When it comes to countrywise hiring expectations for April through June 2024, the highest is for India, with 36 per cent, followed by the US at 34 per cent, China at 32 per cent and Costa Rica at 32 per cent. About 41 per cent of employers, worldwide, expect hiring to increase, while 19 per cent anticipate a decrease. While 37 per cent report no change, three per cent are not sure about hiring, says the latest edition of the Manpower Group global employment outlook report for 2024.
The hiring expectations for the Netherlands stands at 32 per cent, for South Africa at 29 per cent, for Switzerland at 29 per cent, for Mexico at 27 per cent, for Singapore at 24 per cent, for Finland at 23 per cent, for the UK at 23 per cent, Belgium at 22 per cent and Canada at 22 per cent.
Japan exhibits a hiring expectation of 11 per cent, while Australia’s is 19 per cent. Israel’s hiring expectation is understanding -1 per cent, while Romania’s is -2 per cent.
The survey covered 40,385 employers from 42 countries and asked them about their second-quarter hiring intentions.
Net Employment Outlook (NEO) is calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire. The percentage now stands at 22 per cent.
While the oulook remains steady in all regions, 31 per cent employers in North America reported the strongest hiring intentions, followed by 27 per cent in the Asia-Pacific, 19 per cent in South and Central Americas , and 15 per cent in Europe, the Middle East and Africa.
Employers in 12 countries admit to a stronger hiring outlook compared with the same period last year. India’s hiring outlook has improved by six per cent for April-June year-on-year. For Hungary, there has been a five per cent improvement, while for Belgium and the US there has been a four per cent improvement each.
In terms of hiring expectations by company size, it is 13 per cent for those with less that than 10 employees, 16 per cent for a workforce of less 10 to 49 employees, 23 per cent for 50-249 employees, 27 per cent for 250 to 999 employees, and 23 per cent for companies with over 5,000 employees.
In terms of industries, the global employment outlook is the strongest for the information technology (IT) space for the sixth consecutive quarter. However, it was one per cent less than the first quarter of 2024.
The employment outlook is 34 per cent for IT, 29 per cent for financials and real estate, 26 per cent for healthcare and life sciences, 21 per cent for industrials and materials, 18 per cent for consumer goods and services, 18 per cent for energy and utilities, 16 per cent for communication services and 16 per cent for transport, logistics and automotive industries.
Europe, the Middle East and Africa exhibited the lowest hiring expectations at 15 per cent, which is four per cent less than it was in the same period last year, and six per cent less than the first quarter of 2024.