Global Employer Hiring Outlooks Hold Steady for Q4

North America: Employers are the most optimistic for Q4 with unchanged Outlooks since Q3 (+35%)

• Employers in the U.S. (+36% NEO; +1% Quarter-over-Quarter, +3% Year-over-Year) and Puerto Rico (+36% NEO; +1% QoQ; +4% YoY) reported increases in their Outlooks compared to last quarter and the same time last year.
• Employers in Canada (+27%) reported decreased Outlooks both QoQ (-3%) and YoY (-4%).
• The U.S. reports the strongest Outlook globally for the Financials & Real Estate industry (51%).

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

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

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 strongest intentions (+41% NEO; -2% QoQ; -10% YoY), followed by Brazil (+38% NEO; +5% QoQ; -9% YoY), and Guatemala (+36% NEO; +1 QoQ; -2% YoY).
• The lowest confidence is seen by employers in Argentina (+11% NEO; +6% QoQ; +10% YoY).
• This region has the strongest hiring intentions globally for the following sectors:

• • Health Care & Life Sciences: Costa Rica (68%)
  • Energy & Utilities: Puerto Rico (63%)
  • Information Technology: Puerto Rico (57%)
  • Consumer Goods & Services: Guatemala (48%)

Europe, Middle East, and Africa (EMEA): The 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; +11% QoQ; +18% YoY), The Netherlands (+35% NEO; -4% QoQ; +7% YoY), Portugal (+35% NEO; +8% QoQ; +8% YoY), and South Africa (+35% NEO; +1% QoQ; +5% YoY).
• The weakest Outlooks are in the Czech Republic (+11% NEO; -5% QoQ; -1% YoY), Hungary (+13% NEO; +1% QoQ; +18% YoY), and Slovakia (+15% NEO; +5% QoQ; +7% YoY).
• The strongest hiring intentions globally for the following sectors are found in this region:

• • Communication Services: Switzerland (66%)
  • Industrials & Materials: The Netherlands (45%)
  • Transport, Logistics, and Automotive: Switzerland (62%)

To view the complete results for the fourth quarter 2023 ManpowerGroup Employment Outlook Survey, including regional and country data, visit: https://go.manpowergroup.com/meos. The next survey will be released in December and will report hiring expectations for the first quarter of 2024.

ABOUT THE SURVEY

The ManpowerGroup Employment Outlook Survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.

SURVEY METHODOLOGY

The methodology used to collect the data for the Employment Outlook has been digitized in 41 markets for the Q4 2023 report. Survey responses were collected in July 2023. The question asked and the respondent profile remains unchanged. Size of organization and sector are standardized across all countries and territories to allow international comparisons. The survey participants are not derived from ManpowerGroup's customer base. To protect the integrity of the data, survey respondents remain completely anonymous and confidential.

ABOUT MANPOWERGROUP

ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2023 ManpowerGroup was named one of the World's Most Ethical Companies for the 14th time – all confirming our position as the brand of choice for in-demand talent.

For more information, visit www.manpowergroup.com, or follow us on LinkedIn, X (formerly Twitter), Facebook, and Instagram.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements, including statements regarding labor demand in certain regions, countries and industries and economic uncertainty. Actual events or results may differ materially from those contained in the forward-looking statements due to risks, uncertainties and assumptions. These factors include those found in the Company's reports filed with the SEC, including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2022, which information is incorporated herein by reference. ManpowerGroup disclaims any obligation to update any forward-looking or other statements in this release, except as required by law.

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SOURCE ManpowerGroup