Welcome to the Manpower Employment Outlook Survey (MEOS) for Q1 of 2023.
EXECUTIVE SUMMARY
While cooling this quarter, global demand for talent remains resilient and the race for skills continues, according to the newly released Q1 ManpowerGroup Employment Outlook Survey (NYSE: MAN) of more than 38,000 employers in 41 countries and territories.
“Our report indicates that there are early signs of labor markets softening and hiring intentions moving lower given the economic headwinds we are experiencing,” said ManpowerGroup Chairman & CEO Jonas Prising. “Though employers say they are beginning to dial down their hiring plans in some areas, we still see strong demand for specific skills including IT, logistics, and finance. Amidst a cost-of-living crisis, and a depreciation in real-time wages, companies need to think more than ever about attracting and retaining their workers – that might start with pay, yet our data tells us flexibility, career development, and purpose-driven work is worth up to 5% of salary to many workers. There are lots of levers available for companies to attract and retain the talent they need to stay competitive.”
QUOTE
“When wage growth and skills shortages persist, focusing on attracting and keeping those with in demand skills will continue to be critical for U.S. employers.”
– Becky Frankiewicz, ManpowerGroup, Chief Commercial Officer and North America President
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