The Manpower Employment Outlook Survey released today found that employers in 22 of 23 countries and territories surveyed expect positive hiring activity during the third quarter of 2005. The survey also revealed that employers in the lagging German labor market are optimistic about hiring for the first time since the survey began in the country in 2003. U.S. employers expect continued strong labor market trends. Meanwhile, hiring activity in Japan is set to slow from the second quarter.
Indian and Swiss employers were surveyed for the first time this quarter, with employers in India reporting the most optimistic expectations of the 23 countries in the program. In contrast, employers in Switzerland reported the weakest hiring expectations. The quarterly report from Manpower Inc. (NYSE: MAN) is the most extensive, forward-looking employment survey in the world, gathering data from more than 45,000 employers across the globe each quarter.
"Employers in India are the most optimistic about adding to their payrolls in the upcoming quarter. These strong hiring intentions are largely fueled by the vigorous hiring occurring in the Services sector," said Jeffrey A. Joerres, chairman and CEO of Manpower Inc. "Refreshingly, the labor market in Germany has begun to improve as most German employers say they're finally going to be hiring again in the third quarter. In fact, employer optimism in seven of nine German industry sectors is at an all-time survey high. Only time will tell if this increased hiring activity is sustainable."
Meanwhile, the labor markets surveyed across Asia Pacific are expected to soften, following the peak second-quarter hiring period experienced in many countries.
"The hiring pace across Asia Pacific is expected to slow down somewhat from last quarter, most notably in the Finance/Insurance/Real Estate and Wholesale & Retail Trade sectors. Japanese and Chinese employers are telling us they'll be adding staff at a considerably slower pace in the coming months, which is typical of their normal annual hiring patterns," said Joerres.
The only country in Asia Pacific to post improved employment prospects from last quarter is Hong Kong, where employers are just slightly more optimistic. Employers in Australia and Japan indicated that they will add more staff compared to third quarter of 2004. Labor market activity is expected to be weakest in Singapore.
In the Americas, the labor markets are expected to remain steady from the second quarter's solid hiring pace, based on seasonally adjusted data. Hiring in Canada and Mexico is expected to improve slightly from last year at this time, while hiring in the U.S. should continue at the same solid pace seen over the last six quarters.
"Adjusted U.S. data shows the strongest demand in the Construction and Wholesale & Retail Trade sectors," said Joerres. "Canadian job seekers in the Mining and Wholesale & Retail Trade sectors should have the best chances of finding employment. Our data from Mexico reveals that employers in all industry sectors plan to expand their workforces compared to the third quarter of 2004."
Based on seasonally adjusted data, the survey also revealed that employers in only nine of the 23 countries are anticipating improved hiring conditions compared to last year at this time. Nearly one third of the employers surveyed -- mainly European -- are reporting stronger hiring intentions compared to the second quarter.
"Compared to last year, hiring intentions in Europe are mixed," said Joerres. "Hiring prospects are again the strongest in Ireland and Norway. Notably, Finance/Insurance/Real Estate employers in eight of 12 European countries are reporting improved outlooks on both a quarter-over-quarter and year-over-year basis."
Elsewhere in Europe, employers in the UK, Sweden and Spain indicated favorable employment prospects. Employers in Switzerland, the Netherlands, Italy, France and Germany report the weakest hiring expectations for the upcoming quarter.
The next Manpower Employment Outlook Survey will be released on the 13th of September 2005 to report hiring expectations for the fourth quarter of 2005.
The Manpower Employment Outlook Survey is available free of charge to the public through their local Manpower representative in participating countries. To receive e-mail notification when the survey is available each quarter, interested individuals are invited to complete an online subscription form at http://www.manpower.com/prsubscription .
About the Survey
The Manpower Employment Outlook Survey is conducted quarterly to measure employers' intentions to increase or decrease the number of employees in their workforce during the next quarter. It is the only forward-looking survey of its kind, unparalleled in its size, scope, longevity and area of focus. The Survey has been running for more than 40 years and is one of the most trusted surveys of employment activity in the world. The Manpower Employment Outlook Survey is based on interviews with more than 45,000 public and private employers worldwide and is considered a highly respected economic indicator.
The Manpower Employment Outlook Survey is currently available for 23 countries and territories: Australia, Austria, Belgium, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Singapore, Spain, Sweden, Switzerland, Taiwan, the United Kingdom and the United States. The program began in the United States and Canada in 1962, and the United Kingdom was added in 1966. Mexico and Ireland launched the survey in 2002, and 13 additional countries were added to the program in 2003. New Zealand joined the program in 2004 and China, India, Switzerland and Taiwan were added in 2005. For more information, visit the Manpower Inc. Web site at http://www.manpower.com/ and enter the Press Room.
About Manpower
Manpower Inc. (NYSE: MAN) is a world leader in the employment services industry, offering customers a continuum of services to meet their needs throughout the employment and business cycle. The company specializes in permanent, temporary and contract recruitment; employee assessment; training; career transition; organizational consulting services; and professional financial services. Manpower's worldwide network of 4,300 offices in 68 countries and territories enables the company to meet the needs of its 400,000 customers per year, including small and medium size enterprises in all industry sectors, as well as the world's largest multinational corporations. The focus of Manpower's work is on raising productivity through improved quality, efficiency and cost-reduction, enabling customers to concentrate on their core business activities. In addition to the Manpower brand, the company operates under the brand names of Right Management Consultants, Jefferson Wells, Elan and Brook Street. More information on Manpower Inc. is available at http://www.manpower.com/ .
SOURCE: Manpower Inc.
CONTACT: Bruce Bock of Manpower Inc., +1-414-906-6193,
bruce.bock@manpower.com
Web site: http://www.manpower.com/
