Manpower hiring survey is another reason to be optimistic about 2018

Manpower hiring survey is another reason to be optimistic about 2018

Andrew Cummings
December 13, 2017

Employers in Florida as a whole expect to hire at a brisk pace during the first quarter, according to the ManpowerGroup Employment Outlook.

"With a low unemployment rate and a strong outlook, the labour market is rapidly approaching the point at which the war for talent will see wages pressure return to the economy", he said. 78% of overall employers surveyed anticipated no employment changes for the period January to March 2018.

Employers in the construction sector are also more optimistic than in the past, forecasting their strongest NEO in almost six years, of +21%, up 6 percentage points on the quarter and by 11 percentage points on the year.

Manufacturers were not far behind with 30 percent planning to take on new staff in the first quarter, a two percent increase from the previous quarter's 28 percent, and a major increase from the 23 seen during the same period past year.

"With seasonal variations removed from the data, York Region's first quarter net employment outlook of 13 per cent is a 20 percentage point increase when compared to the previous quarterly outlook", Kyriacou said.

Meanwhile, hiring plans weaken in three sectors, most notably by 11 ppt for the finance, insurance & real estate sector and by 3 ppt for the manufacturing sector.

The strongest outlooks are in the US, Japan and India. While the NEO for Wholesale & Retail Trade recorded a small quarter-over-quarter increase of two percentage points, the sector Outlook has remained unchanged when compared to Q1 2017.

Year-over-year, employers in five of the six industry sectors report stronger hiring intentions. "With Hong Kong being the second most targeted place in Asia for cyber attacks during the past three years, we are seeing an uptick in awareness in cybersecurity issue among various corporations". Downbeat hiring intentions in sectors such as finance and business services and the public sector have both weighed heavily on the national picture this quarter.

However, mining & construction sector report uncertain hiring plans with an outlook of -1%, the weakest hiring outlook in more than eight years but one that remains relatively stable year-over-year.

This is the most notable year-on-year decline among all sectors included in the survey, Manpower said.

Other reports by iNewsToday