Q1 2023 ManpowerGroup Employment Outlook Survey

In the latest edition of the ManpowerGroup Employment Outlook Survey of nearly 39,000 employers, 12 of the 41 countries and territories report higher intentions than the previous quarter. Employers around the world are still expecting to hire more workers in the first quarter of 2023, reporting a seasonally adjusted, Net Employment Outlook of +23%. Hiring intentions decrease both year-over-year and quarter-over-quarter by -14% and -6%, respectively.

Executive summary:

•Used internationally as a bellwether of economic and labor market trends, the Net Employment Outlook ​– calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire – now stands at +23%, down (-6%) from Q4 and (-14%) than this time last year.​

•Organizations in the IT industry report the most optimistic Outlook (+35%); followed by Financials & Real Estate (28%), and Energy & Utilities (+26%).​

•The brightest hiring intentions for next quarter are in North America (+31%) and South and Central Americas (+28%), with the greatest expectations in Panama (+39%), Costa Rica (+35%) and Canada

(34%).​

•Large organizations (250+ employees) are more than twice as optimistic as micro (less than 10 employees) to hire in the coming quarter with Outlooks of 29% and 13%, respectively.

While the impact of a potential recession and rising inflation dampen the hiring Outlook quarter-over-quarter and year-over-year, employers continue to look for new talent, reporting a solid Net Employment Outlook of +23% for Q1.

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