It’s a job seeker’s market. Across the U.S., employers plan to increase their headcount in the first quarter of 2020.
U.S. employers expect the hiring pace to remain steady in Q1 2020 though regional and industry forecasts are mixed, according to the latest ManpowerGroup Employment Outlook Survey (MEOS). The survey of more than 11,500 employers show softening in 10 of 13 industries and in two regions of the U.S., while employers in the South and the Midwest expect to hire at the strongest pace in 13 (+22%) and 19 (+21%) years, respectively.
Among the local employers surveyed, 22% plan to hire more employees from January through March. This number is offset by the 5% that plan to reduce payrolls while 72% employers expect to maintain current staff levels and 1% indicate they are not sure of their hiring plans. This yields a net employment outlook of 17%.
Employers in all 13 industries report double-digit hiring intentions with the most optimistic Outlook in Leisure & Hospitality (+30%) – the highest in three years – as consumers dine out and keep spending. Professional & Business Services are also optimistic with a +22% Outlook driven by demand for digital skills. Prospects look healthy for job seekers in Wholesale & Retail Trade (+22%), though the Outlook declined by two percentage points year-over year as brick and mortar retail adapt to increased demand for online offerings. The Durable Goods Manufacturing Outlook (+17%) declined by one percentage point for the second consecutive quarter as employers remain cautiously optimistic in an uncertain global environment.
“Continued concerns over trade uncertainty are leading to some uneven market conditions in the U.S., yet the overall labor market looks resilient heading into the new year,” said Becky Frankiewicz, President of ManpowerGroup North America. “With 7M jobs open for 11 straight months and ongoing positive hiring intentions across all industries, employers need to work harder to match people to the right roles. Companies that want to hire and retain the best talent, should hire for learnability and help people develop new skills for emerging roles. Our economic prosperity depends on helping people adapt their skills so companies can compete in a talentscarce economy.”
To read the full Manpower Employment Outlook Survey for the U.S., go to: manpowergroup.us/MEOS/ or to access the downloadable pdf version of the complete report, click here.
The next Manpower Employment Outlook Survey will be released on March 10, 2020 to report hiring expectations for Quarter 2 2020. Sign up here to receive email notification when the survey is available each quarter.
Source: manpowergroup.us/MEOS/
