The ManpowerGroup Employment Outlook Survey for Q4 2024 indicates a steady global hiring intention with a Net Employment Outlook (NEO) of 25%. This reflects a 3% increase from the previous quarter but a -5% decline compared to Q4 2023. Despite economic uncertainties, there are signs of quarter-over-quarter improvement in hiring plans.
- Global Hiring Overview
- Current Outlook: The global NEO stands at 25%, marking a 3% increase from Q3 2024 but a -5% decline year-over-year.
- Economic Impact: Economic uncertainties continue to influence hiring plans, although the global labor market shows relative stability with low unemployment and layoff activity.
- Regional Highlights
- North America:
- Outlook: 32%, up 5% from Q3 2024 but down -3% from Q4 2023.
- Top States: The U.S. reports the strongest hiring intentions (34%) with a notable focus on the IT sector.
- Asia Pacific (APAC):
- Outlook: 27%, an increase from Q3 but down -5% year-over-year.
- Top Countries: India (37%), Singapore (29%), and China (27%) report the strongest Outlooks, with Singapore leading in the Financials & Real Estate sector (64%).
- Central & South America:
- Outlook: 23%, up 1% from Q3 but down -8% year-over-year.
- Top Countries: Costa Rica (36%), Brazil (32%), and Guatemala (30%) show the strongest hiring intentions.
- Europe, the Middle East, and Africa (EMEA):
- Outlook: 21%, showing a -3% decline from last year but a +2% improvement from Q3 2024.
- Top Countries: South Africa and Switzerland (32%) report the strongest hiring plans, while Israel (8%) and the Czech Republic (11%) have the weakest Outlooks.
- North America:
- Sector-Specific Insights
- IT Sector: Continues to drive demand for tech talent, with strong Outlooks reported globally.
- Financials & Real Estate: Notable strength in Singapore, reflecting high hiring intentions.
- Healthcare & Life Sciences: Belgium reports the strongest Outlook globally (62%).
- Energy & Utilities: South Africa leads with a strong Outlook (55%).
- Organizational Size Impact
- Larger Organizations: Companies with 250-999 employees show the highest hiring Outlook at 32%.
- Small Companies: Organizations with fewer than ten employees report the weakest Outlook at 13%.
The Q4 2024 Employment Outlook reflects a cautious but steady global hiring trend. Regional and sector-specific variations highlight where job creation is most robust and where employers remain cautious. The ongoing focus on digital and tech sectors, combined with regional disparities, underscores the evolving landscape of global employment.
