The Manpower Employment Outlook Survey released today revealed that third-quarter hiring is expected to be positive in all of the 27 countries and territories surveyed, with employers in Germany and Norway reporting their most optimistic hiring plans since the survey began in these countries in 2003, based on seasonally adjusted data. Meanwhile, the Asia Pacific labor market is expected to cool from three months ago, with the exception of India, where employer demand has bounced back after a dip reported in the second quarter. In the U.S., job prospects are expected to hold firm in the next three months, but are softer compared to last year at this time.
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The strongest third-quarter hiring prospects reported globally were in Singapore, Peru, India, Argentina, New Zealand, Australia, Norway, Costa Rica, Japan and Hong Kong. Meanwhile, employers in Italy reported the least optimistic hiring plans. Employers in 15 countries and territories are reporting weaker hiring plans compared to the second quarter; however, year-over-year those in 14 countries are reporting improved job prospects. The quarterly survey by Manpower is the world's most extensive forward-looking employment survey, with interviews of nearly 52,000 employers worldwide.
"Hiring activity is generally healthy across all 27 of the countries and territories we survey, with Germany continuing to be the biggest story as the labor market continues its steady improvement. We are seeing a softer hiring pattern across Asia Pacific going into the third quarter, with the exception of India where employment prospects are set to improve," said Jeffrey A. Joerres, Chairman & CEO of Manpower Inc. "In the U.S., employers are expecting to maintain their current hiring pace, continuing their measured approach to adding staff only when needed," Joerres added.
Elsewhere in the Europe, Middle East and Africa (EMEA) region, job prospects are strongest in Norway, South Africa, the UK, Germany, Sweden and Switzerland, while Italian employers reported the weakest, but still positive, hiring expectations in the region. Irish employers expect to slow hiring considerably from the second quarter and last year, however, employers in eight European countries say they expect to increase the hiring pace from one year ago.
"Steady demand in the Transportation and Communications sector is helping drive continued momentum in the German labor market and throughout Europe, and Manufacturing employers in the region expect to boost hiring from one year ago," said Joerres. "This is particularly evident in the Norwegian labor market where these two sectors are contributing to the strongest employment outlook for Norway since the survey began here four years ago."
Of the six countries surveyed in the Americas, employers in Peru and Argentina are again the most optimistic about adding to their workforces, with Peruvian employers expecting a considerable increase in hiring compared to third quarter of 2006. The hiring pace is expected to be slightly weaker from one year ago in Canada, Costa Rica and the U.S.
"The good news in the U.S., Canada and Mexico is that job prospects should hold steady in the next three months, based on seasonally adjusted data. Mexican employers in the Agriculture, Wholesale & Retail and Manufacturing sectors are reporting record levels of optimism, but their U.S. counterparts are less enthusiastic about adding staff at this time," said Joerres.
Employer hiring projections for the eight countries and territories surveyed across the Asia Pacific region are weaker when compared to the second quarter (but still positive), with the exception of India. The strongest outlooks were reported in Singapore, India, New Zealand and Australia. Employers in Taiwan expect to offer the fewest employment opportunities.
"The data shows that finding and keeping talent in Singapore remains a challenge for employers, as they struggle to hire skilled staff to keep up with demand. In contrast, Japanese employers in the Finance, Insurance and Real Estate sector anticipate the biggest slowdown after the active second quarter, when the bulk of the year's hiring takes place in Japan," said Joerres. "It should be no surprise that the strongest hiring expectations for India are found in the Services sector, where 49 percent of employers are telling us they will increase their payrolls in the third quarter."
The next Manpower Employment Outlook Survey will be released on the 11th of September 2007 to report hiring expectations for the fourth 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 52,000 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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