Manpower employment outlook survey Q1 2017

ENCOURAGING HIRING PLANS REPORTED BY SLOVAK EMPLOYERS FOR 1Q 2017

Bratislava, 13th December – ManpowerGroup Slovakia today releases results of the ManpowerGroup Employment Outlook Survey for the first quarter of 2017. Slovakian employers report encouraging signs for job seekers for the January-March time frame. With 13% of employers forecasting an increase in staffing levels, 6% anticipating a decrease and 77% expecting no change, the Net Employment Outlook is +7%. Once the data is adjusted to allow for seasonal variation, the Outlook stands at +9%. Hiring intentions remain relatively stable when compared with the previous quarter but decline by 3 percentage points year-over-year. “Unemployment in the Slovak Republic continues to decline under 10 %. This is very good news for people looking for a job, but companies increasingly complain that they can not find enough suitable candidates. In-demand profiles increasingly specifying only specialized skills in IT, engineering or skill trades, but companies also report a lack of candidates for non-qualified jobs in manufacturing and logistics. According to the ManpowerGroup Employment Outlook Survey for the first quarter of 2017, 28 % of large companies with over 250 employees plan to increase the number of vacancies. Especially we are seeing the most inquiries from our clients in automotive related sectors like mechanical engineering, electrical engineering and logistics,” said Jaroslava Rezlerová, Managing Director of ManpowerGroup Czech and Slovak Republic.

Industry sector comparisons

Employers in eight of the 10 industry sectors forecast an increase in staffing levels during the coming quarter. The strongest labor market is anticipated by Manufacturing sector employers who report a Net Employment Outlook of +20% and in Finance, Insurance, Real Estate & Business Services sector, where the Outlook stands at +18%, while employers in the Wholesale & Retail Trade sector and the Transport, Storage & Communication sector report Outlooks of +14% and +13%, respectively. However, Public & Social sector employers forecast an uncertain hiring climate with an Outlook of -1%, while Mining & Quarrying sector employers report a flat Outlook of 0%.Quarter-over-quarter, hiring prospects improve in six of the 10 industry sectors. The most noteworthy increase of 6 percentage points is reported in the Manufacturing sector. Outlooks weaken in four sectors, most notably by 8 percentage points in the Public & Social sector. Year-over-year, employers in six of the 10 industry sectors report weaker hiring intentions. The Outlook declines by 7 percentage points in the Public & Social sector, while Mining & Quarrying sector employers report a decrease of 6 percentage points. However, hiring prospects improve in three sectors, most notably by 6 percentage points for the Finance, Insurance, Real Estate & Business Services sector.

Regional comparisons

Workforce gains are forecast in all four regions during 1Q 2017. The strongest labor market is anticipated by Bratislava employers who report a Net Employment Outlook of +15%. Elsewhere, employers in Eastern and Western Slovakia report cautiously optimistic Outlooks of +8%, while the Outlook for the Central region stands at +7%. Quarter-over-quarter, employers in Central Slovakia report a slight improvement of 2 percentage points, while Outlooks remain relatively stable in both Eastern and Western regions. Bratislava employers report no change when compared with 4Q 2016. Hiring prospects weaken in Eastern and Western Slovakia when compared with 1Q 2016, declining by 5 and 3 percentage points, respectively. Meanwhile, hiring plans are unchanged in both Bratislava and Central Slovakia.

Organization-Size Comparisons

Staffing levels are forecast to grow in all four organization size categories during the coming quarter. Large employers with 250 or more employees report the most optimistic Net Employment Outlook of +26%. Medium employers with 50-249 employees anticipate steady job gains with an Outlook of +11% while Outlooks stand at +4% for Micro employers (less than 10 employees) and at +2% for Small-size employers (10-49 employees), respectively. Quarter-over-quarter, the Outlook for Medium employers is 3 percentage points stronger, while Large employers report an increase of 2 percentage points. However, Small employers report a slight decline of 2 percentage points. Micro employers report relatively stable hiring plans. When compared with 1Q 2016, hiring intentions decline by 6 and 2 percentage points for Small- and Micro-size employers, respectively. Meanwhile, the Outlook for Medium employers remains relatively stable and Large employers report no change.

Global overview

Elsewhere, job seekers should see varying degrees of positive hiring activity across 40 of 43 countries and territories during the January-March time frame. Hiring plans strengthen in 19 of 43 countries and territories when compared with the previous quarter and weaken in 17. Outlooks improve in 20 countries and territories year-over-year but decline in 18. First-quarter hiring confidence is strongest in Taiwan, India, Japan, Hungary and Slovenia while the weakest hiring prospects are reported in Brazil, Switzerland and Italy. The next ManpowerGroup Employment Outlook Survey reporting on results for the second quarter of 2017 will be published on 14th March 2017. ManpowerGroup has also released its ManpowerGroup Employment Outlook Survey Explorer tool, a new interactive way to examine and compare its data. The tool can be viewed at http://www.manpowergroupsolutions.com/DataExplorer/

About the Survey

The global leader in innovative workforce solutions, ManpowerGroup releases the ManpowerGroup Employment Outlook Survey quarterly to measure employers’ intentions to increase or decrease the number of employees in their workforce during the next quarter. It is the longest running, most extensive, forward-looking employment survey in the world, polling nearly 59,000 employers in 43 countries and territories. The survey serves as a bellwether of labor market trends and activities and is regularly used to inform the Bank of England’s Inflation Reports, as well as a regular data source for the European Commission, informing its EU Employment Situation and Social Outlook report the Monthly Monitor. ManpowerGroup’s independent survey data is also sourced by financial analysts and economists around the world to help determine where labor markets are headed. The ManpowerGroup Employment Outlook Survey is currently available for 43 countries and territories: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, China, Colombia, Costa Rica, Czech Republic, Finland, France, Germany, Greece, Guatemala, Hong Kong, Hungary, India, Ireland, Israel, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Panama, Peru, Poland, Romania, Singapore, Slovakia, Spain, South Africa, Sweden, Switzerland, Taiwan, Turkey, the United Kingdom and the United States. The survey began in the United States and Canada in 1962. Slovakia launched the Manpower Employment Outlook Survey in the fourth quarter of 2011. Slovakia is one of 43 countries and territories participating in the quarterly measurement of employer hiring intentions. The survey for Quarter 1 2017 was conducted by interviewing a representative sample of 750 employers in the Slovak Republic and asking the same question: “How do you anticipate total employment at your location to change in the three months to the end of March 2017 as compared to the current quarter?”

About ManpowerGroup™

ManpowerGroup® (NYSE: MAN) is the world’s workforce expert, creating innovative workforce solutions for nearly 70 years. As workforce experts, we connect more than 600,000 people to meaningful work across a wide range of skills and industries every day. Through our ManpowerGroup family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – we help more than 400,000 clients in 80 countries and territories address their critical talent needs, providing comprehensive solutions to resource, manage and develop talent. In 2016, ManpowerGroup was named one of the World’s Most Ethical Companies for the sixth consecutive year and one of Fortune’s Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup makes powering the world of work humanly possible: www.manpowergroup.com.

About ManpowerGroup Slovakia

Through a network of six offices, we provide staff for around 500 clients. With employment opportunities in the public and private sector, on both a permanent and temporary basis, we make it easy for people to find employment and for companies to find staff with the skills they need. Solutions include permanent and temporary positions, holiday, maternity or sick coverage, through to large workforce transformation and outsourcing contracts.

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