Globally, employers expect modest hiring to continue for Q4 with hiring relatively flat year-over-year, according to the latest ManpowerGroup Employment Outlook Survey of nearly 39,000 employers in 41 countries.

The research is based on survey responses fielded between 3 July and 31 July, 2023. The Net Employment Outlook (NEO) for Q4 is +30%, up 1% from Q4 2022, and a 2% increase from last quarter.

The NEO is calculated by subtracting the percentage of employers who anticipate reductions in staffing levels from those who plan to hire.

Employers across all 41 countries report net positive hiring intentions with Outlooks ranging from +11% to 41% for the fourth quarter.

ManpowerGroup Chairman and CEO Jonas Prising said, “The data for Q4 reveals employers continue to plan measured hiring despite economic uncertainties.

“Globally, employers are beginning to moderate their hiring post-pandemic with many focused-on recruiting and retaining the business-critical skills they need to drive growth,” Prising said. “Those who emphasise upskilling, reskilling, flexibility, and culture will be most competitive in still-tight labour markets. As transformation accelerates - from generative AI to the green transition - investing in people remains key for companies to build resilience and agility moving forward.”

Overall, the strongest hiring intentions were found in Costa Rica (+41%), Brazil (+38%), and Switzerland (+38%); with employers in Argentina (+11%), the Czechia (+11%), and Japan (+11%) reporting the least optimistic Outlooks.

Businesses in the IT industry continue to report the brightest Outlook (39%), followed by Financials & Real Estate (33%), Communication Services (31%), Health Care & Life Sciences (31%), and Energy & Utilities (31%).

Global hiring plans by region

Employers in 24 countries report a stronger hiring outlook compared with the same period last year, weakening in 16, and remaining unchanged in one.

The greatest annual improvements since Q4 2022 are reported in Greece, Hungary, Switzerland, and Taiwan.

The EMEA region reported an improved Outlook (+25%), moderately increasing since last quarter (+3%) and the previous year (5%).

The strongest Outlooks were found in Switzerland (+38% NEO; +18% YoY), The Netherlands (+35% NEO; +7% YoY), Portugal (+35% NEO; +8% YoY), and South Africa (+35% NEO; +5% YoY).

The weakest Outlooks are in Czechia (+11% NEO; -1% YoY), Hungary (+13% NEO; +18% YoY), and Slovakia (+15% NEO; +5% QoQ; +7% YoY).

Hiring managers across the APAC region anticipate strong hiring intentions (+32%), remaining relatively stable when compared to the previous quarter (+1%), but weakening year-over-year (-8%).

India (+37% NEO;-17% YoY) and Singapore (+36% NEO; +0% YoY) reported the strongest outlooks. The most cautious outlooks were reported in Japan (+11% NEO; -2% QoQ; +1% YoY).

In North America, employers are the most optimistic for Q4 with unchanged outlooks since Q3 (+35%).

Employers in the US (+36% NEO; +1%, +3% YoY) and Puerto Rico (+36% NEO; +4% YoY) reported increases in their outlooks compared to last quarter and the same time last year.

Employers in Canada (+27%) reported decreased a decreased outlook YoY (-4%). 

In Central and South America: regional outlooks stand at +31%, slightly increasing since last quarter (+2%) yet decreasing when compared to this time last year (-4%). Hiring managers in Costa Rica again report the strongest intentions (+41% NEO; -10% YoY).

Across key sectors, the global IT sector reported the most positive hiring outlook for the fourth consecutive quarter but weakened -5% vs. Q4 2022.