According to the Manpower Employment Outlook Survey released today, fourth-quarter hiring expectations are mostly positive, but with varying degrees of optimism across the 27 countries and territories surveyed. Employers in seven countries are reporting their most optimistic hiring plans since the survey began in these countries: Japan, Germany, India, Sweden, Australia, Costa Rica and Peru. On the other hand, Chinese employers expect a hiring slowdown in the next three months. Meanwhile, the results for the U.S. are similar to those reported in the third quarter -- steady job prospects for the next three months, but slightly softer hiring expectations compared to last year at this time. All reports are based on seasonally adjusted data, where available.
The strongest fourth-quarter hiring prospects reported globally were in Peru, India, Singapore, Costa Rica, Argentina, Japan, Australia, New Zealand, South Africa and Hong Kong. Italian employers again reported the least robust hiring plans globally. Employers in 11 countries and territories are reporting improved hiring plans compared to the third quarter, while job prospects are expected to improve in 14 countries on a year-over-year basis. The quarterly survey by Manpower Inc. is the world's most extensive forward-looking employment survey, with interviews of nearly 52,000 employers worldwide.
"The softening reported across Asia Pacific in the third quarter appears to be short lived in some countries, such as India and Japan, where employers expect to accelerate hiring in the next three months. However, in China, the hiring pace is expected to slow slightly. European labor markets are expected to remain positive, with German and Norwegian employers continuing to express notable optimism about adding to their payrolls," said Jeffrey A. Joerres, Chairman & CEO of Manpower Inc. "Adjusted data for the U.S. reveals the same steady hiring patterns seen over the past two quarters. The U.S. labor market is, again, affected by companies of all sizes being selective about their talent requirements."
Elsewhere in the Americas, employers in Peru, Costa Rica and Argentina are most optimistic about hiring in the next three months. Mexican employers continue to report strong hiring expectations, while the pace of hiring in Canada and the U.S. is expected to remain stable from the third quarter to the fourth, but be slightly slower compared to the fourth quarter of 2006.
"Mexican employers in the Construction sector anticipate strong hiring in the upcoming quarter, while their northern neighbors in this sector are less optimistic and expect to offer fewer jobs compared to this time last year," said Joerres. "The extremely positive results in Costa Rica and Peru continue to be bolstered, in part, by the Agriculture and Fishing sectors, where seasonality is driving demand for employees."
Of the countries surveyed in Europe, employers in Norway, Sweden, Spain and Germany are most optimistic about adding to their workforces. Hiring expectations in all of these countries increased moderately compared to the fourth quarter of 2006. In contrast, hiring optimism among Irish employers fell considerably from one year ago.
"We are seeing an uptick in year-over-year hiring plans by manufacturing employers among the majority of countries we survey in Europe. This is the case in Germany, where manufacturers reported the strongest fourth-quarter hiring projections and the overall labor market strength looks set to continue," said Joerres. "In contrast to the third quarter, year-over-year hiring intentions among transportation employers in this region fell in 10 of 13 countries as employers appear to be slowly putting the brakes on hiring."
Employers across the eight countries and territories surveyed across the Asia Pacific region are reporting varying degrees of positive hiring expectations. Employer optimism increased from the third quarter and one year ago in four of eight countries and territories surveyed. The strongest hiring plans were reported in India, Singapore, Japan and Australia, while employers in Taiwan and China reported the weakest hiring outlooks in the region.
"Indian employers are reporting their most optimistic hiring forecast since the survey began in this country, as employers in the Services sector anticipate boosting payrolls to handle holiday season demand from US and UK clients," said Joerres. "Similarly, Japanese employers are also reporting record hiring optimism -- particularly those in the Services and Finance/Insurance/Real Estate sectors -- where demand for talent is outstripping supply. We see the reverse in China, where employers across all industry sectors and regions are telling us that they will slow the pace of hiring from both the third quarter and last year."
The next Manpower Employment Outlook Survey will be released on the 11th of December 2007 to report hiring expectations for the first quarter of 2008. 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
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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