Q3 HIRING OUTLOOKS STRENGTHEN IN MOST MARKETS
TALENT SHORTAGES REACH HIGHEST LEVELS IN 16 YEARS
- Year-over-year, hiring outlooks improve in 36 of 40 markets and in 28 since last quarter
- Strongest hiring prospects are reported in Mexico (+59%), Brazil (+54%), and India (+51%); the weakest in Greece (-1%), Taiwan (+3%), and Japan (+4%)
- Global talent shortages are at an all-time high, with 75% of employers reporting difficultly in filling roles – a six percent increase compared to this time last year
- The most difficult roles to fill are in Education, Health, Social Work, Government, Information Technology, Telecoms, Communications and Media, Banking, Finance, Insurance and Real Estate
MILWAUKEE, May 19, 2022 /PRNewswire/ -- Hiring optimism has returned to levels not seen since the start of the pandemic with employers in 36 of 40 countries reporting stronger hiring outlooks year-over-year according to the latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey of more than 40,000 employers. Yet that optimism is being tempered by the highest levels of global talent shortages in 16 years with 75% of employers reporting difficulty filling vacancies, a 6% increase compared to this time last year. Employers report technology and data skills (29%), are the most difficult to find, followed by skilled workers in sales and marketing (22%), operations and logistics (21%).
Asia-Pacific employers are reporting the most difficulty filling open roles, with the biggest impacts being felt in Taiwan (88%), Singapore (84%), China (83%), Hong Kong (83%), India (83%), and Australia (81%). In the U.S., employers report their most optimistic hiring intentions in more than 21 years, driven by IT, Tech, Telecoms, Communications and Media (+59%), Banking, Finance, Insurance and Real Estate (+45%), and Construction (+42%). Businesses in the Czech Republic (49%), Slovakia (56%), and Colombia (61%) are struggling the least to find skilled workers.
- A Global Net Employment Outlook of +33% is anticipated for Q3; an 18% increase from this time last year and a 4% increase from the previous quarter
- Strongest hiring prospects are reported in Mexico (+59%), Brazil (+54%), India (+51%), Canada (+43%), and Colombia (+43%); weakest reported in Greece (-1%), Taiwan (+3%), and Japan (+4%)
- Employers report difficulty filling open roles, with the biggest impacts being felt in Taiwan, Portugal, Singapore, China, Hong Kong, and India.
- In the U.S., technology skills are the most in demand, with 31% of employers reporting difficulty in filling roles. Additionally, 28% report difficulty in finding soft skills such as accountability and self-discipline, as companies hire more remote workers
"While it's encouraging to see employers have the intention to hire workers, it's been increasingly difficult for them to find the talent they need," said Jonas Prising, ManpowerGroup Chairman and CEO. "On top of the skills gap challenge, employers are dealing with wage inflation and competition for workers, as many are switching industries altogether to better suit their lifestyle. On the ground, we continue to see talent shortages created by the pandemic, the Ukraine conflict starting to impact the supply chain and creating greater uncertainty in the economic outlook. The need for organizations like ours to focus on reskilling and creating talent at scale has never been more important."
View the complete Q3 2022 ManpowerGroup Employment Survey results:
Global Hiring Plans by Region
North America: The U.S. (+38%) and Canada (+43%) report strong hiring levels for Q3 2022.
- Employers in Canada report an increase in outlook compared to last quarter (+6%), the U.S. also shows a slight increase for the second quarter (+3%).
- Hiring managers in both countries expect hiring to be significantly stronger compared to intentions year over year, +24% in Canada and +9% in the U.S.
- In the U.S., employers in IT, Tech, Telecoms, Communications and Media (+59%), and Banking, Finance, Insurance and Real Estate (+45%) report the strongest outlooks while those in Primary Production (+26%) report the weakest.
Central and South America: All 8 countries report a positive employment outlook for Q3.
- Hiring intentions improved in seven countries when compared to Q2 2022, weakening in one and, when compared to this time last year, improved in all 8 countries.
- Mexico (+59%) reports the strongest hiring intention, followed by Brazil (+54%) and Colombia (+43%). The weakest prospects in the region are reported in Argentina (+21%), Peru (+32%), and Guatemala (+39%).
EMEA: Employers report positive hiring intentions in 22 out of 23 countries during the next three months.
- Hiring intentions improve in 21 countries when compared with Q3 2021 and improve in 15 when compared to Q2 2022.
- The strongest hiring intentions are in Ireland (+42%), South Africa (+38%), and Portugal (+37%), and the weakest in Greece (-1%), Poland (11%), and both Romania and Slovakia (+12%).
- In five U.K. industry sectors, employers report an increase in hiring intentions, and similarly, in nine of France's industry sectors, employers report an increase.
APAC: In comparison to the previous quarter, hiring plans strengthened in four countries, and weakened in three countries.
- Strongest outlooks are in India (+51%), Singapore (+40%), and Australia (+38%), and the most cautious plans are reported in Taiwan (+3%) and Japan (+4%).
- Hong Kong (+11%) reports increased hiring intentions, improving 8% compared to Q2 2022, and 10% on the previous year.
- China expects hiring intentions to decrease in eight industry sectors, with Banking, Finance, Insurance and Real Estate (+4%) reporting the only increase.
To view complete results for the ManpowerGroup Employment Outlook Survey, visit: https://go.manpowergroup.com/meos. The next survey will be released in September 2022 and will report hiring expectations for the fourth quarter.
ABOUT THE SURVEY
The ManpowerGroup Employment Outlook Survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis and Talent Solutions – creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2022 ManpowerGroup was named one of the World's Most Ethical Companies for the 13th year – all confirming our position as the brand of choice for in-demand talent.