The Herman Trend Alert|
February 16, 2011
Worldwide Hiring Expectations Look Good
Within the last two weeks two respected organizations have released reports that confirm our forecast: employers will be hiring more people in the coming year.
Manpower’s quarterly Employment Outlook Survey for the first three months of 2011 shows that United States employers report the most optimistic hiring intentions in a while. US employers surveyed by Manpower, anticipate an increase of 14 percent in staff levels in Quarter 1 2011.
Globally, Brazilian employers’ had a continued robust net employment outlook of 36 percent increase. Only hiring expectations in India, China, and Taiwan with increases of 42, 40, and 37 percent respectively exceed Brazil's. In Colombia, the net employment outlook was an increase of 10 percent.
This global survey reflects recovery in the world’s largest economies. Employers surveyed enjoyed five straight quarters of employment growth---a positive overall hiring Outlook since the start of 2010 (data seasonally adjusted).
The survey found widespread stability among employers worldwide. Employers in seven of the 13 industry sectors surveyed expect to remain relatively stable compared to Quarter 4 2010. Services and Financial/Insurance Sectors led others in hiring expectations, though there were regional differences. However, the lack of robust demand for products and services is creating an ongoing level of uncertainty, especially in Europe.
According to a recent survey by the National Association for Business Economists (NABE), US businesses' hiring intentions are at their highest level since 1998. Respondents also said the outlook for the economy had "improved significantly".
Some 42 percent of respondents in the NABE study indicated their firms will increase employment in the next half year, up from 29 percent in the same time a year ago. Current employment conditions were also at a 12-year high, with over a third of respondents reporting larger workforces compared to only 13 percent a year ago.
Almost two-thirds of those surveyed forecast 2 to 3 percent growth in the US economy this year, and one in five respondents predicted 3 to 4 percent growth.
The most significant problem facing employers everywhere will be their inability to recruit qualified people with the skills, abilities, and experience they will need. These shortages are only the beginning.
Find full Manpower reports at www.manpower.com/press/meos.cfm.
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