Our quarterly Employment Outlook Survey is out and despite inflationary pressures, the talk of recession and the ongoing talent shortage, we’re pleased to report that major companies are forging ahead with their hiring plans. A full 48% of respondents to the latest ManpowerGroup Employment Outlook Survey reported the intention to hire new employees in the fourth quarter of ‘22. This is only two percentage points lower than last quarter. Only 15% expect to lay off workers.
Our quarterly Employment Outlook Survey measures employers’ intentions to increase or decrease the number of employees in their payrolls in the October-January time period. It’s the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. Once the data is adjusted to allow for seasonal variation, the Net Employment Outlook for the coming quarter stands at +33%, still strong, but a 5 point decline from last quarter.
Viewing the data by region, workforce decreases are anticipated in all four U.S. regions when compared with one year ago. The West region fared best year-over-year with an expected decrease of -11%, while the South showed the smallest quarter-to-quarter decline at -3%.
Growth is expected across all 11 industry sectors, with IT, Technology, Telecoms, Communications and Media once again reporting the strongest outlook of +56%.
Globally, the United States tied for 11th place in hiring intentions for the fourth quarter. The leaders this time included India and Costa Rica.
As always, whether you are decreasing or increasing your workforce or shifting your work models, we can help. Our research, market intelligence and workforce trends analysis can inform your talent strategy for today and tomorrow.
Access the latest employment outlook research to help you make the smartest decisions for your organization.
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