The U.S. Q1 2023 Employment Outlook Survey Explained
Our quarterly employment outlook survey is out and despite the talent shortage, inflation and a hefty number of new jobs hitting the U.S. economy during November 2022, we’re pleased to report that major companies are forging ahead with their hiring plans. A full 45% of respondents to the latest ManpowerGroup Employment Outlook Survey reported the intention to hire new employees in the first quarter of 2023. This is only three points lower than last quarter.
Our quarterly Employment Outlook Survey measures employers’ intentions to increase or decrease the number of employees in their payrolls in the January-March time period. Now in its 61st year, it’s the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator.
The Net Employment Outlook (NEO) for the U.S. stands at +29%, falling four points from last quarter’s outlook. The NEO realizes the difference between the percentage of employers planning to increase staff in the quarter minus the percentage expected to decrease staff.
The biggest news may be in the Information Technology sector, where the U.S. leads the world with a net employment outlook of +52%. Our second strongest sector is Financials and Real Estate with a net outlook of +34%.
The Outlook is lower, however, in all U.S. regions compared to last year at this time, and down in three out of four regions compared to last quarter.
Globally, the Net Employment Outlook for the U.S. is six points above the world average. We are tied for 10th place in the world, with the most optimistic hiring reported by employers in India (+54%) and Costa Rica (+51%).
Our quarterly Employment Outlook Survey is out and despite inflationary pressures, the talk of recession and the...
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