Job seekers can expect the strong hiring momentum from 2022 to extend into the first quarter of 2023 amidst continued talent shortage. According to ManpowerGroup’s latest Employment Outlook Survey report, out of 1020 employers surveyed, 48% of employers surveyed in Australia reported intentions to increase their headcount, 14% anticipate a decrease while 36% expect no changes to their numbers. The resulting Net Employment Outlook is +32% after seasonal adjustments, weakening by 6 percentage points from the last quarter and 5 percentage points in comparison to one year ago.
The report finds that the impact of a possible global recession, rising inflation, and higher cost of doing business has begun to play out in labour markets, but the decline is not as steep as the economic forecasts and headlines would suggest.
ManpowerGroup Australia Managing Director, Penny O’Reilly says, “While the latest figures show a slight decrease in the Net Employment Outlook nationally, the market remains very active.
“The fact that almost one in two Australian organisations intend to hire in Q1, suggests business leaders are confident about the year ahead.”
Hiring managers across APAC anticipate strong (+25%) but slowing hiring intentions, weakening since the previous quarter and year by -15% and –11%, respectively.
Singapore (+33%), Australia (+32%), and India (+32%) report the most optimistic Outlooks, most cautious in Japan (+8%) and Taiwan (+11%).
Globally, the strongest hiring intentions in the Financials & Real Estate sector are found in Singapore (+57%).
