Global hiring intentions expected to hold steady in fourth quarter

Global hiring intentions are expected to hold steady in Q4 2024, even though the outlook for the quarter ahead was weaker than the corresponding quarter of last year, according to ManpowerGroup’s Employment Outlook Survey. The poll of more than 40,000 employers in 42 countries showed the global hiring outlook for Q4 2024 was slightly higher at 25%, compared to 22% in Q3 2024. But ManpowerGroup said year-on-year it fell 5%, according to the internationally used net employment outlook (NEO) metric, which showed that over 40% of employers polled expect an increase in hiring plans, while 16% anticipate a reduction. “The global labor market is holding steady as we move into the fourth quarter, with relatively low unemployment and layoff activity in many countries,” observed Jonas Prising, chief executive of ManpowerGroup. The strongest hiring plans were reported by employers in India (37%), Costa Rica (36%) and the United States (34%). The weakest outlooks came from Argentina (4%) and Israel (8%). The survey also found that increasing work-life balance is a top priority for employers, particularly in Asia-Pacific, as they focus on improving worker retention.