|
|
|
 Business News | June 2008 
Global Employment Poll Reveals Weaker Job Prospects
 RP News Wires
go to original
| | The survey data reveals that the most optimistic third-quarter hiring plans globally are reported by employers in India, Singapore, Peru, Poland, Costa Rica, Hong Kong, Romania, Argentina, Taiwan, Australia, Mexico and Japan. | | |
Employers in most of the world's major labor markets are less optimistic about hiring in the third quarter, saying they will add fewer employees to their payrolls compared to one year ago, according to the Manpower Employment Outlook Survey of global hiring trends released June 10 by Manpower Inc. The quarterly survey results indicate a relatively stable outlook – mainly in Europe, with about half of the countries included in the survey program expecting to reduce hiring, and the other half planning to continue hiring at a steady pace or increasing headcount in the third quarter.
"It should be no surprise that the global labor market is decidedly more cautious in light of the current economic climate, with employers in most of the countries we survey planning to slow the pace of hiring from this time last year," said Jeffrey A. Joerres, chairman and CEO of Manpower Inc. "Employers in all of the G7 countries are expecting to hire at a slower pace from July through September than they were a year ago, which is concerning, however the quarterly trend shows that these labor markets remain healthy with five of the seven countries holding steady or showing improvement."
"Of the G7 countries, only those employers in the U.S. and Japan are planning to reduce hiring between second and third quarter of this year," Joerres added. "France, Germany, Italy and the United Kingdom are all planning to maintain a steady hiring pace from now through September, while Canadian employers indicate a slight improvement. In the important emerging markets of China and India, employers are planning to increase hiring as they enter the third quarter."
The Manpower Employment Outlook Survey is the most extensive, forward-looking employment survey in the world with interviews of more than 55,000 employers each quarter. The survey data reveals that the most optimistic third-quarter hiring plans globally are reported by employers in India, Singapore, Peru, Poland, Costa Rica, Hong Kong, Romania, Argentina, Taiwan, Australia, Mexico and Japan. On the other hand, employers in Spain, Italy and Ireland are reporting the weakest job prospects in the next three months.
Of the seven countries surveyed in the Americas, employers in Peru, Costa Rica and Argentina are most optimistic about adding staff in the next three months, while those in Canada are the least optimistic. Mexican employers continue to be upbeat about hiring while employer confidence in the U.S. continues to decline.
"The employment picture in the U.S. is slightly weaker than three months ago, with the Construction sector continuing to struggle. However, job seekers should find ample opportunities in the Services sector. Despite the weaker hiring climate there are still specific skills across the country that are in very high demand, such as engineers, machinists and skilled manual trades, where demand is outstripping supply," said Joerres. "The weakness seen north of the border has not appeared to suppress Mexican employers' appetite for workers. For the third consecutive quarter employers in the Transport & Communication sector have the strongest hiring plans with those in the Mining and Extraction sector reporting the strongest job prospects in six years."
As was the case in the second quarter, across the 17 countries surveyed in the Europe, Middle East and Africa (EMEA) region, employers in Poland, Romania, Greece, South Africa and Norway are most optimistic about hiring in the quarter ahead. In contrast, the hiring forecasts from Spanish, Italian and Irish employers are the least optimistic in the region and globally.
"In Poland, hiring optimism is being bolstered by new job opportunities from infrastructure improvements and a stronger currency, which is luring many migrant Poles working abroad back home. This could have an adverse impact on the markets that rely so heavily on this foreign talent to fill critical skills shortages," said Joerres. "Meanwhile, the continued positive outlook in Germany is being fueled by strong demand in the Construction and Finance/Insurance/Real Estate sectors."
In Asia Pacific, the survey data continues to show varying degrees of positive hiring expectations. Employer hiring plans have softened from both the second quarter and one year ago in five of eight countries and territories surveyed. The strongest employer hiring plans were again reported in India and Singapore, while employers in China reported the weakest hiring outlook in the region for the fourth consecutive quarter.
"Some of the softness in the region can be attributed to weaker job prospects in the Transportation & Utilities and Wholesale/Retail Trade sectors, where year-over-year outlooks are weaker in seven of eight countries and territories," said Joerres. "Job prospects in the Services sector have accelerated in India and Hong Kong from three months ago with the outlooks being the most optimistic since the surveys began in these markets. Similarly, the forecast from employers in the Finance/Insurance/Real Estate sector in Taiwan is the strongest in three years. Year-over-year hiring expectations are again weaker across every industry sector surveyed in China, but employer hiring expectations are notably improved from three months ago." |
| |
|
Vallarta Weddings
Tell a Friend
Site Map
Print this Page
Email Us