Despite inflation and recession concerns, U.S. employers are planning to hire, according to ManpowerGroup’s 2023 Q1 Employment Outlook Survey. The tech and finance & real estate sectors have the strongest outlook, while the communication services, goods & services, and transport, logistics, & automotive sectors have the weakest — though still positive — outlooks.
Overall, the Net Employment Outlook, which is calculated by subtracting the percentage of employers who anticipate reductions in staffing levels from those planning to hire, is 29%. This is down 4% from last quarter and 12% from last year. Employers in the Northeast are planning to hire at the highest rate, and large organizations are more likely to hire than smaller ones.
“This labor market continues to defy expectations with employers planning to add to their workforces across all key sectors for Q1,” said Becky Frankiewicz, ManpowerGroup Chief Commercial Officer and North America President. “Those with tech skills will find themselves in particularly strong demand. The data does indicate some hiring slow-down in logistics and transport, yet we’re seeing employers being very intentional in where they pause hiring. Many remember the challenges they faced to bring workers back post-pandemic and are keen to hold onto the talent they have. 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.”