Hiring Outlooks Strengthen In Q3 - Talent Shortages Reach Highest Levels In 15 Years
MILWAUKEE, June 8, 2021 /PRNewswire/ -- Hiring optimism has returned to levels not seen since the start of the pandemic with employers in 42 of 43 countries reporting stronger hiring outlooks year-over-year according to the latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey of over 45,000 employers. Yet that optimism is being tempered by the highest levels of global talent shortages in 15 years with 69% of employers reporting difficulty filling vacancies. As childcare challenges, health concerns and unemployment support programs continue, employers report most difficulty filling roles that cannot be done remotely.
Technology-related roles continue to be in high demand and logistics shows no signs of reverting back to pre-crisis levels as the shift to online retail is here to stay. Demand is strengthening within manufacturing, hospitality, entertainment, and travel sectors as industries most impacted by the pandemic start to bring their workers back. European employers are reporting the most difficulty filling open roles with the biggest impacts being felt in France, Romania, and Italy. In the U.S. employers report their most optimistic hiring intentions in more than 20 years, driven by Hospitality & Leisure as states open up. Businesses in China, India and South Africa are struggling least to find skilled workers.
"As vaccine roll-outs gain momentum and lockdown restrictions ease we see hiring optimism coupled with supply constraints in many markets," said Jonas Prising, ManpowerGroup Chairman and CEO. "This recovery is unlike any we have seen before and the pace of hiring is picking up far faster than after the last economic downturn. The competition for talent is heating up, and employers are starting to respond to what workers want - better pay, more flexibility and skills development with a commitment to sustainability. While some of these shortages will be eased as health concerns lessen, stimulus ends and schools return, digitization is here to stay and supporting people to reskill and upskill for growth roles remains one of the greatest challenges of our time".
View the complete Q3 2021 ManpowerGroup Employment Survey results:
Global Hiring Plans by Region
AMERICAS: All ten countries report a positive employment outlook for Q3.
- The most positive hiring intentions are reported in the U.S. (+25%), – its strongest outlook in 21 years – followed by Costa Rica (+9%), Guatemala (+9%) and Mexico (9%).
- The weakest outlooks are reported in Panama (+1%), Argentina (+1%) and Peru (+2%).
- In the U.S., the strongest hiring outlooks is anticipated in Leisure & Hospitality where the bullish outlook of +41% is the strongest reported in more than 10 years.
EMEA: Hiring plans strengthen in 22 markets and weaken in two (Czech Republic and Turkey):
- The strongest hiring intentions are reported in Greece (+15%), Ireland (+15%) and Croatia (+14%), with the weakest in South Africa (+1%), the Czech Republic (+4%) and Spain (+4%).
- As lockdown restrictions lift in the UK, the Hotels & Retail sector outlook is the strongest in two years, standing at +8%.
- German employers expect a return to pre-COVID-19 levels of hiring in the upcoming quarter, driven in part by favorable hiring plans in the Finance & Business Services while employers in the Manufacturing sector report their strongest hiring intentions in two years.
APAC: In comparison with the prior quarter, hiring plans strengthen in three countries (China, Hong Kong and Japan) and weaken in three (India, Taiwan and Singapore):
- For the fourth consecutive quarter, the strongest hiring climate in the Asia Pacific region is expected in Taiwan, fueled in part by bright hiring plans for the Construction sector and a brisk hiring pace in the Manufacturing sector, where the Outlook for the coming quarter is the strongest in six years.
- China reports one of its strongest outlooks in six years. Its Finance, Insurance & Real Estate sector outlook of +19% is the strongest reported since 2013.
To view complete results for the ManpowerGroup Employment Outlook Survey, visit: www.manpowergroup.com/meos. The report is the latest in ManpowerGroup's Future for Workers insight series following The Skills Revolution Reboot on the impact of COVID-19 on digitization and skills and The Future for Workers, By Workers.
ABOUT THE SURVEY
The Employment Outlook Survey – conducted in April 2021 – 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. Seasonal adjustments have been applied for countries and territories that have accumulated at least 17 quarters of data, Croatia being the exception. ManpowerGroup intends to add seasonal adjustments to the data for Croatia in the future, as more historical data is compiled.
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 2021 ManpowerGroup was named one of the World's Most Ethical Companies for the 12th year - all confirming our position as the brand of choice for in-demand talent.