Employers in Germany, Europe's largest economy, are planning to accelerate hiring in the second quarter, indicating a continuance in the recovery of this key labor market. Meanwhile, job prospects in India and the U.S. are expected to ease in the next three months, according to the Manpower Employment Outlook Survey released today by Manpower Inc. (NYSE: MAN). The survey by Manpower is the world's most extensive forward-looking employment survey, with interviews of nearly 50,000 employers worldwide each quarter.
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"German employers across all industry sectors are telling us they'll increase hiring, but the demand for employees is expected to be particularly high in the Utilities and Business Services sectors," said Jeffrey A. Joerres, Chairman & CEO of Manpower Inc. "U.S. employers appear to be absorbing the hiring that was done in the previous quarters and are now adopting a sabbatical approach to hiring for the second quarter, with nearly six in 10 expecting no changes to their headcount. Indian employers share this pensive hiring sentiment, as they are assessing their needs while they are busy finalizing their 2007 business plans and budgets."
Overall employment expectations in the global labor market are mixed for the second quarter, with employers in 14 countries and territories expecting to increase the pace of hiring from both the first quarter of 2007 and one year ago. The Manpower survey showed the most optimistic hiring expectations worldwide for the second quarter are in Singapore, Peru, Argentina, South Africa, India, Australia, New Zealand and Japan. Employers in Australia, Germany, Italy, Japan, Mexico, Netherlands, Singapore, South Africa and Switzerland reported their most optimistic hiring plans since the survey began in these countries.
Of the countries surveyed in the Europe, Middle East and Africa (EMEA) region, job prospects are strongest in South Africa, Ireland, Switzerland, Norway and the UK, while French employers reported the weakest, but still positive, hiring expectations in the region. In addition to the improvement reported for Germany, Italian employers also reported a notable boost in hiring plans from last year at this time.
"The near-term outlook for jobseekers in Europe is steady and we continue to see strength across the region in the Finance and Business Services sector, as well as the Transport, Storage and Communication sector," said Joerres. "The improved second-quarter hiring outlook in the Italian labor market is being led by employers in the Public and Social Services sector."
Employer hiring projections for the eight countries and territories included in the survey across the Asia Pacific region are mixed, with weaker (but still positive) job markets ahead for Taiwan, India and Hong Kong compared to last year at this time. On the other hand, seasonally adjusted data reveals demand for employees is heating up in Singapore and Australia.
"Employers across all industry sectors in Singapore are expecting to ratchet up the hiring pace from last year. But the reality is that the people are just not available in the labor market today, and this is something that employers will continue to struggle with," said Joerres. "The Australian market faces similar challenges, as the demand for talent is high, particularly in the Mining and Construction sector."
Of the six countries surveyed in the Americas, employers in Peru and Argentina are the most optimistic about adding to their workforces. The hiring pace is expected to be slightly weaker from one year ago in Canada and the U.S., while employers in Mexico have the strongest hiring expectations since the survey began in the third quarter of 2002.
"The seasonally adjusted data shows that the Mexican labor market is expected to continue the positive upward trend that began in 2004, with the strongest job prospects coming from the Construction and Services sectors," said Joerres. "Conversely, and not surprisingly, in the U.S. there is considerably less optimism in the Construction sector compared to this time last year and employers in the Durable Goods Manufacturing sector are anticipating the slowest hiring pace in three years."
The next Manpower Employment Outlook Survey will be released on the 12th of June 2007 to report hiring expectations for the third quarter. 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://investor.manpower.com/investors/alerts.cfm .
Note to Editors
All comments are based on seasonally adjusted data where available. The region reported in the past as "Europe" has been changed to "Europe, Middle East and Africa (EMEA)" to include results from South Africa, which joined the survey program in the 4th quarter of 2006.
Full survey results for each of the 27 countries and territories included in this quarter's survey, plus regional and global comparisons, can be found in the Manpower Press Room at http://www.manpower.com/meos . In addition, all tables and graphs from the full report are available to be downloaded for use in publication or broadcast from the Manpower Web site at http://www.manpower.com/library .
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 most extensive 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 nearly 50,000 public and private employers worldwide and is considered a highly respected economic indicator.
The Manpower Employment Outlook Survey is currently available for 27 countries and territories: Argentina, Australia, Austria, Belgium, Canada, China, Costa Rica, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Peru, Singapore, Spain, South Africa, 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, China, India, Switzerland and Taiwan were added in 2005, and Argentina, Peru, Costa Rica and South Africa joined in 2006. For more information, visit the Manpower Inc. Web site at http://www.manpower.com/ and enter the Research Center.
About Manpower Inc.
Manpower Inc. (NYSE: MAN) is a world leader in the employment services industry; creating and delivering services that enable its clients to win in the changing world of work. The $18 billion company offers employers a range of services for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; outplacement; outsourcing and consulting. Manpower's worldwide network of 4,400 offices in 73 countries and territories enables the company to meet the needs of its 400,000 clients 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 across their total workforce, enabling clients to concentrate on their core business activities. Manpower Inc. operates under five brands: Manpower, Manpower Professional, Elan, Jefferson Wells and Right Management. More information on Manpower Inc. is available at http://www.manpower.com/ .
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