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Mexico Q2 hiring rate to remain stable, ManpowerGroup survey finds

March 11, 2015

A survey by ManpowerGroup Inc. (NYSE: MAN) found 16% of employers in Mexico plan to increase staff and 4% plan to make reductions, yielding a net employment outlook of 11% on a seasonally adjusted basis. The forecast indicates hiring prospects are relatively stable when compared with the previous quarter, but down by 6 percentage points from one year ago, according to ManpowerGroup.

“The net employment outlook in Mexico remained firm when compared with the previous quarter, however in a year on year comparison the national trend revealed a slowdown as a result of the decline in oil prices, the increase in the exchange rate and the public spending cuts,” said Monica Flores, CEO of ManpowerGroup for LATAM.

Employers in all seven industry sectors expect to grow payrolls in the second quarter, but hiring plans weakened by varying margins in all compared to last year at this time.

The mining and extraction sector, transport and communication sector and the manufacture sector report the most optimistic forecasts, each with a seasonally adjusted net employment outlook of 11%. Construction was the worst industry for hiring at 8%, down five percentage points from the first quarter’s survey and its weakest reported outlook since the fourth quarter of 2012.

ManpowerGroup’s employment outlook survey includes responses from 4,800 Mexican employers.