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Hiring intentions are improving after employers in 22 labour markets across the world have reported stable recruitment plans for the fourth quarter, the latest Manpower Employment Outlook Survey shows today.
But the pace of hiring is expected to weaken in 26 markets when compared to a year ago. In the emerging markets of China, Brazil and India, employers in nearly all industry sectors expect to slow the pace of hiring from this time last year.
“There is so much uncertainty in the global labor market now and that is undermining employer hiring confidence. If these uncertainties – the debt crisis in Europe, rumblings of a slowdown in China, the U.S. presidential election and healthcare costs coming in that can't be calculated – keep stacking up, we will see the global labor market's slow, steady hiring mode shift to a pause,” said Jeffrey A. Joerres, Chairman and CEO of ManpowerGroup.
The research shows that employers are most confident about adding to their headcount in the next three months in Taiwan, India, Panama, Brazil, Turkey and Peru.
However in Europe hiring intentions were among the weakest, including countries such as Greece, Italy, Finland, Ireland, Spain, Slovakia, Netherlands, Czech Republic and Poland.
Overall across the Europe, Middle East and Africa (EMEA) region, fourth-quarter hiring expectations are positive in 13 of 24 countries with employment outlooks improving or remaining stable from the last quarter.
“Despite the continued challenges in the eurozone, the French, German and UK labor markets exhibit some resiliency compared to three months ago and that's a positive sign,” said Mr Joerres.
“On the other hand, our data reveals a regional weakening trend across the manufacturing sector with hiring set to slow from 12 months ago in 17 of 24 countries. This projected slowdown is most evident in Poland where twice as many employers are expecting layoffs from three months ago. Meanwhile, the upbeat forecast for Turkey is being bolstered by notably improved hiring intentions in the Pharmaceutical sector.”