Our quarterly Employment Outlook Survey, which measures employers’ intentions to increase or decrease the number of employees in their payrolls in the January-March time period, is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. Once the data is adjusted to allow for seasonal variation, the Net Employment Outlook for the coming quarter stands at +41%. This is a 5% decline since last quarter, but a 26% increase from 12 months ago.
Hiring prospects decreased in all four U.S. regions when compared with the fourth quarter of 2021, but were substantially above first quarter, 2021. The strongest hiring climate is expected in the Pacific region, with a net employment outlook of 49%.
The brightest forecast was predicted for IT, Technology, Telecoms, Communications and Media, with a net employment outlook of 60%. The Wholesale & Retail Trade and Other industry sectors experienced declines since last quarter, but remained at 15% and 24% above one year ago, respectively.
Globally, the countries with the strongest hiring outlooks for early 2022 were Peru, with 51% of respondents intending to hire, followed by India (49%), and tied for third were The Netherlands, Ireland and Brazil (47%).
Additional questions posed this quarter were COVID-19-related. Overall, 27% of respondents said they would require proof of full vaccination for all employees, 28% said they would urge but not mandate vaccination, and others reported various policies. Only 13% said they had no plans to introduce a vaccination policy. (Note that the survey was conducted before the national mandate was announced.
Whether you are decreasing or increasing your workforce or shifting your work models, we can help. Our research, market intelligence and workforce trends analysis can inform your talent strategy for today and tomorrow.