Q1 2019 Hiring Intentions Point to Continued Global Labor Market Growth Led by U.S. and Asia
Global hiring intentions have strengthened in 16 countries, remain constant in five and slowed in 23 year-over-year, according to the survey of more than 60,000 employers across 44 countries and territories.
"We're seeing continued demand for skilled talent across the globe, as companies stay focused on business growth, especially in tight labor markets like the U.S.," said
Global Hiring Plans by Region
EMEA: Employers report positive Outlooks in all 26 countries surveyed in the EMEA region. Employers in
- Accustomed to uncertainty,
UKemployers remain optimistic for Q1 2019 reporting stable hiring plans when compared to the previous quarter (+6%). Employers in the Construction sector continue to report the most optimism (+9%) leading to concerns over talent shortages as Brexit negotiations continue.
- The Spanish labor market is set to soften in Q1 2019 as employers report an Outlook of +3%, a slight decline from the previous quarter. However, optimism is reported by employers in the Wholesale & Retail trade sector who expect the strongest hiring climate in 11 years (+10%).
- Manufacturing employers are reporting some of the most optimistic headcount increases for Q1 2019 in
Hungary, Romania, Slovakiaand Poland, driven by growth in the automotive industry.
- U.S. hiring pace is expected to hit a 12-year high in the new year as unemployment hits a 50-year low and the labor market continues to tighten. At +20%, employers are reporting a 16-point improvement compared to Q1 2010.
Canadais seeing its strongest performing market since Q2 2008. More than half of the sectors show improvements with Transportation & Public Utilitiesand Manufacturing of Durables the best performers. Brazilleads the way in Latin America, with the strongest hiring intentions in four years, +8%, improving two percentage points year-on-year. The Agriculture, Fishing and Mining sector report the strongest Outlook year-over-year.
- Argentinian employers report the weakest hiring intentions since the survey began 12 years ago (-4%) as key industries such as Manufacturing and Transportation & Utilities contract.
- The Japanese economy continues to expand, and employers anticipate the strongest hiring pace in over 15 years (+27%). The Transport & Utilities sector leads this expansion with a bullish Outlook of +44%, improving +12 and +10 percentage points from Q4 2018 and Q1 2018 respectively.
- Chinese employers remain confident, reporting an Outlook of +10% for Q1 2019, and the Manufacturing Outlook remains unchanged (+8%). Largely unaffected by the 2008 financial crisis,
China'seconomy has diversified over the last decade, indicative of the country's efforts to expand its production and export-led economy to a consumer one.
To view complete results for the
*The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.
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