The latest survey from the ManpowerGroup Employment Outlook Survey predicts that 27 per cent of employers plan to hire in the upcoming months, while zero per cent anticipate cutbacks. ManpowerGroup interviewed over 59,000 employers globally and found that the job markets are upbeat in Taiwan, Japan, Hungary, and the USA, while Italy, the Czech Republic, and Switzerland presented weak outlooks.
Meanwhile, the hiring scene is looking up in other countries, too. Half of the employers in the region expect to keep staffing levels as they are, while the final six per cent surveyed are now unsure of their plans. A considerable decline of 14 percentage points is reported in the North, while Outlooks are 5 and 3 percentage points weaker in the South and the West, respectively. Despite the overall positive NEO in Australia, hiring expectations are below average for the Asia Pacific region where the strongest outlooks are reported in Taiwan (+26%), Japan (+24%) and India (+22%).
"With several variations removed from the data, Belleville's second quarter net employment outlook of four per cent is a two percentage point decrease when compared to the previous quarterly Outlook", said McAllister. The weakest hiring plans are reported in Mining, Government Information and Nondurable Goods Manufacturing. However, employers in the East report an improvement of 8 percentage points. Despite the easing in the employment outlook across these key sectors, all remain in positive territory.
Erica Melarangeli of Manpower's Stoney Creek office says the outlook for Hamilton shows an increase of 12 percentage points when compared with the outlook reported during the same time previous year, indicating an optimistic hiring pace for the upcoming months. The strongest labour market is anticipated by Wholesale & Retail Trade sector employers with a Net Employment Outlook of +21%. When compared with 1Q 2018, hiring prospects are five percentage points stronger in Gauteng, and improve by two percentage points in KwaZulu-Natal. The softer outlook by small organisations may reflect concern around increasing headcount at a time when there is a growing debate about the need to increase wages across the economy.
The report says that Finance, Insurance, and Real Estate sector have the strongest outlook (+32 percent), citing the New Southbound Policy and the foothold Taiwanese banks have made in Southeast Asian countries as a major reason for the sector's strong hiring outlook. "While this may take some time to flow through the economy, there are clearly positive signs".
On the flip side, 3 percent of Winston-Salem area employers surveyed expect to eliminate jobs, up from 1 percent in the first quarter and 2 percent a year ago. Seasonal adjustment is then applied to the data.