Q3 U.S. Optimism Reigns as Hiring Intentions Improve Over Last Quarter and Last Year

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May 19, 2022, 00:01 ET

Employers in the U.S. report a Net Employment Outlook of 38% for July through September.
IT employers continue to anticipate the most optimistic hiring pace (59%), followed by Banking/Finance/Insurance & Real Estate (45%)
Promising Outlooks are reported for job seekers across all four U.S. regions, most notably in the West with an Outlook of 42%, up 15% from this time last year.

MILWAUKEE, May 19, 2022 /PRNewswire/ -- As businesses deal with inflationary and supply chain pressures, half (50%) of 6,000+ U.S. employers plan to have job openings during the third quarter according to the latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey*. Only 12% expect a decrease in their workforce, down two percentage points from last quarter. Once seasonal variation is removed, the U.S. Net Employment Outlook (NEO) for Q3 is 38%, strengthening by 9 percentage points from Q3 2021 and 3 percentage points since the previous quarter.

KEY FINDINGS SUMMARY

As tech for good gains momentum, digital roles continue to drive demand: IT, Technology, Telecoms, Communications & Media reported the strongest outlook (+59%), followed by Finance/Real Estate (+45%). The weakest hiring intentions were found in the Other Industry category (+24%).
Employers in the Northeast (43%) are most optimistic to grow their staff this coming quarter, followed by the West (42%) region.
Large organizations of 250+ employees report bullish hiring intentions (49%), leading the charge in the economic recovery.

"As labor demand continues to outpace supply, employers across America are bullish in their hiring intentions," said Becky Frankiewicz, President, ManpowerGroup North America. "Despite chaotic market conditions and the challenges of inflation, we are living through one of the strongest job markets in U.S. history. The empowered workforce is here to stay. To meet their hiring objectives and attract and retain the talent that enables them to grow, employers will need to focus on three key areas: flexibility, employee wellbeing, and upskilling and reskilling efforts."

View the complete Q3 2022 U.S. survey results: manpowergroupusa.com/meos

Region	Q3 2022	Quarter-over- Quarter	Year-over-Year Variation
Midwest	+36%	+3%	+7%
Northeast	+43%	+7%	+13%
South	+35%	+1%	+6%
West	+42%	0%	+15%

U.S. Hiring Plans by Industry Sectors

Employers in all 11 U.S. industry sectors expect to grow their staff during the next three months: IT, Technology, Telecoms, Communications & Media (+59%); Banking, Finance, Insurance & Real Estate (+45%); Construction (+42%), Manufacturing (+40%); Wholesale & Retail Trade (+40%); ; Not-for-Profit (+39%); Restaurants & Hotels (+35%); Education, Health, Social Work & Government (+33%); Other Services (+32%); Primary Production (+26%); and Other Industry (+24%).
To view complete results for the ManpowerGroup Employment Outlook Survey, visit: manpowergroupusa.com/meos. The next survey will be released in September 2022 and will report hiring expectations for the fourth quarter. With MEOS beginning in 1962, this year's results mark the 60th consecutive year of the survey.

ABOUT THE SURVEY
The ManpowerGroup Employment Outlook Survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. 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.

ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis and Talent Solutions – creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2022 ManpowerGroup was named one of the World's Most Ethical Companies for the 13th year – all confirming our position as the brand of choice for in-demand talent.

SOURCE ManpowerGroup