Three EU Countries Report Largest Increase in Hiring Outlook

Three EU Countries Report Largest Increase in Hiring Outlook

The first global ManpowerGroup Employment Outlook Survey for 2024 finds Net Employment Outlooks improve in 27 countries, weaken in 12, and remain unchanged in two when compared to the same time last year.

The survey found that employers in three EU member states reported the largest year over-year increases in hiring outlook, Hungary at +20%, Poland at +18% and the Netherlands at +17%. This compared with the steepest declines reported in Argentina, Peru and Israel.

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.

Globally, employers expect continued, yet moderating hiring in Q1 2024 with a Net Employment Outlook of 26%, up +3% year-over-year, but down -4% from last quarter.

Meanwhile, 75% of employers say they are struggling to find the talent they need, on par with 2022 levels, driving employers to offer solutions such as flexibility and increased wages, while looking at new talent pools.

Employers in the IT sector have the most optimistic hiring outlook, followed by the Financials & Real Estate sector, Communication Services, and Health Care & Life Sciences.

The research is based on data collected from more than 40,000 employers in 41 countries between October 1 to October 31, 2023.

Jonas Prising, ManpowerGroup Chairman and CEO, said, ‘The latest survey reveals that while employer hiring confidence has moderated slightly amid global economic concerns, labour markets remain tight and demand for skilled talent is still strong across multiple sectors. As companies continue to transform their business models, many are holding onto the talent they have, and struggling to find the new talent they need. This data suggests organizations are committed to offering flexible work options, recognizing that this can give them a competitive edge for attracting and retaining workers. As AI adoption gains traction, employers are turning to upskilling their workforce to maximize potential productivity gains.’

Overall, the strongest hiring is anticipated in North America (34%), followed by Asia Pacific (30%), South and Central Americas (28%), and Europe, Middle East, and Africa (23%).

The survey also revealed the top five most in-demand skills are IT & data, engineering, sales & marketing, operations & logistics, and manufacturing & production.

The report can be viewed in full here

Image by Eric Prouzet/Via UnSplash/https://unsplash.com/license

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