Our quarterly employment outlook survey is out and despite the talent shortage, inflation and an historically low U.S. unemployment rate, we’re pleased to report that major companies are forging ahead with their hiring plans. A full 46% of respondents to the latest ManpowerGroup Employment Outlook Survey reported the intention to hire new employees in the second quarter of 2023. This is one percentage point higher than last quarter.
Our quarterly Employment Outlook Survey measures employers’ intentions to increase or decrease the number of employees on their payrolls in the April-June time period. Now in its 61st year, it’s the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator.
The Net Employment Outlook (NEO) for the U.S. stands at +30%, one point higher than Q1. The NEO realizes the difference between the percentage of employers planning to increase staff in the quarter minus the percentage expected to decrease staff or make no changes.
For the seventh straight quarter, the strongest hiring expectations are in the Information Technology sector, where 45% of employers plan to add to staff. The sector with the largest increase since the previous quarter is Transport, Logistics & Automotive with a change of +24 percentage points.
This map shows regional differences as compared to last quarter. All regions have lower expectations than last year at this time.
Globally, the Net Employment Outlook for the U.S. ranks 7th in the world; seven points above the world average. The strongest hiring plans for the second quarter of 2023 are predicted in Central American countries Panama (+41), Costa Rica (+38) and Guatemala (+38).
Finally, this quarter’s report included questions regarding the difficulty of finding skilled talent. Overall, 75% of U.S. employers reported having “some” or “a lot of” difficulty finding the talent they need.
The full report breaks down the talent shortage by industry, top soft skills needed by industry, and more. Access the Q2 2023 ManpowerGroup Employment Outlook Survey to help you make the smartest decisions for your organization.