Employers have increased hiring intentions for the third quarter, according to ManpowerGroup Inc.’s (NYSE: MAN) Employment Outlook Survey.
Of the more than 6,000 employers surveyed in the US for the report, 50% plan to have job openings during the third quarter while 12% expect to reduce their workforce.
Once data is adjusted to allow for seasonal variation, the net employment outlook for the third quarter is 38%. This represents an increase of 9 percentage points year over year and 3 percentage points from the second-quarter outlook.
“As labor demand continues to outpace supply, employers across America are bullish in their hiring intentions,” ManpowerGroup North America president Becky Frankiewicz said. “Despite chaotic market conditions and the challenges of inflation, we are living through one of the strongest job markets in US history. The empowered workforce is here to stay.”
Frankiewicz also noted that to meet their hiring objectives and attract and retain the talent that enables them to grow, employers will need to focus on three key areas: flexibility, employee well-being, and upskilling and reskilling efforts.
Employers in all 11 US industry sectors expect to grow their staff during the next three months:
- IT, technology, telecoms, communications & media: +59%
- Banking, finance, insurance & real estate: +45%
- Construction: +42%
- Manufacturing: +40%
- Wholesale and retail trade: +40%
- Not-for-profit: +39%
- Restaurants and hotels: +35%
- Education, health, social work and government: +33%
- Other services: +32%
- Primary production: +26%
- Other industry: +24%
Promising outlooks are reported for job seekers across all four US regions, particularly in the West with an outlook of 42%, reflecting a 15% year over year increase.
The research also found that employers in the northeast region have the most optimistic hiring intentions (43%). Meanwhile, large organizations of more than 250 employees reported positive hiring intentions, leading the charge in the economic recovery.
When looking at the full global outlook report, employers in 39 of 40 countries report positive net employment outlooks. Mexico posted the strongest hiring prospects with an outlook of +59%, a year-over-year increase of 40%. Canada ranks fourth with an outlook of +43% while the US’ 38% outlook places it at No. 11 on the list.