Global hiring intentions are holding stable for now, according to ManpowerGroup’s (NYSE: MAN) Employment Outlook Survey for the second quarter.

The report’s survey of 40,000 employers across 41 countries found that 40% anticipate an increase in hiring in the second quarter, while 15% cited a decrease for a net employment outlook of 25%. That net employment outlook is unchanged from the first quarter report and the fourth quarter 2024 report.

“We are pleased to see hiring outlooks holding steady for three consecutive quarters now — the longest period of stability we have seen since before the pandemic,” ManpowerGroup Chair and CEO Jonas Prising said in a press release.

Employers are holding onto the skilled workers they have and hiring cautiously for new talent, Prising said.

Countries reporting the strongest net employment outlooks were India, 43%; the US, 34%; and Mexico, 33%.

The weakest net employment outlooks were in Argentina, 0%; Romania, 6%; and Greece, 7%.

Looking at the report by regions, Asia Pacific posted the strongest net employment outlook at 30%, up three percentage points from the first quarter. The Americas ranked second at 29% with hiring unchanged from the first quarter.

Europe and the Middle East posted the lowest hiring intentions by region at 20%, though they are up one percentage point since the first quarter. Among European countries, those with the highest net employment outlooks were the UK, 31%; the Netherlands, 27%; and Norway, 27%.

“The glimmers of hope in today’s Manpower employment outlook are there but faint,” Neil Carberry, chief executive of the UK’s Recruitment and Employment Confederation, said in a statement about ManpowerGroup’s numbers.

“Recent anecdotes from our recruiters about a stabilising job market and latent demand for hiring that hasn’t yet launched can be seen in this data,” Carberry said. “But it’s clear that firms remain very cautious, awaiting the full impact of the Autumn Budget changes and concerned about the costs of the Employment Rights Bill.”

The report’s survey took place in January.