U.S. Labor Market Shows No Sign of Cooling Down in Q4: Average Annual Hiring Outlook for 2018 the Strongest in a Decade
- Employers report +19% Employment Outlook in Q4 2018 capping off ten years of positive hiring intentions
MILWAUKEE, Sept. 11, 2018 /PRNewswire/ -- Employers across the U.S. plan to add staff in the next three months with a Net Employment Outlook of +19%, according to the latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey. The survey of more than 11,500 U.S. employers reports the strongest average annual Outlook on record in the last decade with +19% anticipating growth.
All 13 industry sectors forecast optimistic hiring plans. The Outlook for Leisure & Hospitality is +28% - the strongest industry for 28 consecutive quarters as consumer confidence grows. Optimistic hiring intentions in Professional & Business Services (+25%) and Transportation & Utilities (+24%) reflect continued economic expansion and growth of online retail that's increasing the demand for drivers.
Hiring prospects in the South (+20%) are the strongest in 10 years driven by an uptick in Durable Goods Manufacturing (+18%). Employers in the Midwest region anticipate sustained hiring for the third consecutive quarter (+19%).
"August marked the 95th month in a row for job growth in the U.S. and we anticipate we'll hit 99 months by the end of the year as the Q4 Outlook has more good news for American jobseekers and businesses," said Becky Frankiewicz, President of ManpowerGroup North America. "The labor market is getting back to pre-recession levels where the most optimistic Outlooks were reported in manufacturing, retail and professional services. It's a similar scenario today with a big difference - manufacturing is more advanced, retail has gone online, and employers in professional roles need a new combination of digital and soft skills. These are not the low-skilled jobs of the past, they are highly skilled technical roles of the future. In this competitive labor market, there is no better time for employers to help people upskill and develop in their careers. Creating a culture of learnability so that people are equipped and open to adapt is not just an operational imperative, it must be a strategic priority to build America's workforce for today and tomorrow."
View complete Q4 2018 survey results for the U.S: ManpowerGroup.US/MEOS.
Region | Q4 2018 | Quarter-over-Quarter Variation | Year-over-Year Variation |
West | 20% | +3% | +2% |
Midwest | 18% | -1% | +2% |
South | 20% | +1% | +2% |
Northeast | 18% | +2% | 0% |
U.S. Hiring Plans by Regions, Industry Sectors and Metro Areas/States
- Nationwide, employers in all 13 industry sectors expect to add staff in Q4 2018. The strongest Outlooks are reported in Leisure & Hospitality (+28%), Professional & Business Services (+25%), Transportation & Utilities (+24%), Wholesale & Retail Trade (+22%), Mining (+22%), Durable Goods Manufacturing (+19%), Construction (+18%), and Non-Durable Goods Manufacturing (+17%).
- Employers in all four regions in the U.S. report a positive hiring Outlook for Q4 2018: South (+20%), West (+20%), Midwest (+18%), and Northeast (+18%). Hiring prospects in the South and West are the strongest in more than ten years. Employers in the Midwest report relatively stable hiring intentions, up two percentage points year-over-year.
- Employers in New Mexico (+28%), North Carolina (+28%), Kansas (+27%), South Carolina (+25%) and Arizona (+24%) report the strongest Employment Outlooks. Of the 100 largest metropolitan statistical areas, the strongest job prospects are expected in Charlotte, N.C. (+31%); Raleigh, N.C. (+29%); San Jose, Calif. (+29%); Albuquerque, N.M. (+28%); Greenville, S.C. (+28%); and Winston-Salem, NC (+28%).
Complete results for the ManpowerGroup Employment Outlook Survey are available for download at https://manpowergroup.us/MEOS. The Q1 2019 survey will be released Dec. 11, 2018.
*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®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for 70 years. In 2018, ManpowerGroup was named one of the World's Most Ethical Companies for the ninth year and one of Fortune's Most Admired Companies for the sixteenth year, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/us-labor-market-shows-no-sign-of-cooling-down-in-q4-average-annual-hiring-outlook-for-2018-the-strongest-in-a-decade-300710049.html
SOURCE ManpowerGroup
