U.S. hiring sentiment remains relatively strong for the remainder of 2022, according to the Q4 ManpowerGroup Employment Outlook Survey of 6,050 employers published recently.
Used internationally as a bellwether of economic and labor market trends, the Net Employment Outlook – calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire – now stands at +33%, down slightly (-5%) from Q3.
"Q4 is a critical bellwether for the U.S labor market," said ManpowerGroup Chief Commercial Officer and North America President Becky Frankiewicz. "As we head into the holidays, employers are telling us skilled workers are the top of their wish-list and tailwinds like weaker growth and inflation haven't dampened their demands. The pandemic and subsequent talent shortages have taught companies that hiring and keeping the best talent is critical to success and just-in-time hiring is a challenge in this tight labor market. As the labor pool begins to look more like a labor puddle, we're counselling companies to do three things – look for potential versus simply past performance; reward and celebrate each and every person who dedicates their time and skills to work; and ensure flexibility and balance are an option for the many not the few. From factory floor to finance, every worker deserves the opportunity to work in a way that works for them."
KEY FINDINGS SUMMARY
- As tech for good gains momentum, digital roles continue to drive demand: IT, Technology, Telecoms, Communications & Media reported the strongest outlook (+56%), followed by Banking/Finance/Real Estate (+42%). The weakest hiring intentions were found in the Other Industry category (+20%).
- Employers in the Northeast and Midwest are least optimistic in hiring intentions compared to last quarter (-9%); yet Net Employment Outlooks are positive for both regions.
- Large organizations of 250+ employees report the strongest hiring intentions (+41%).
U.S. Hiring Plans by Industry Sectors
- Employers in all 11 U.S. industry sectors expect to grow their staff during the next three months: IT, Technology, Telecoms, Communications & Media (+56%); Banking, Finance, Insurance & Real Estate (+42%); Construction (+36%); Manufacturing (+35%); Other Services (+33%); Wholesale & Retail Trade (+30%); Restaurants & Hotels (+29%); Not-for-Profit (+26%); Education, Health, Social Work & Government (+25%); Primary Production (+24%); and Other Industries (+20%).
To view the complete results for the ManpowerGroup Employment Outlook Survey, visit: manpowergroupusa.com/meos.
The next survey will be released in January 2023 and will report hiring expectations for the first quarter. With MEOS beginning in 1962, this year's results mark the 60th consecutive year of the survey.