Report projects little change in hiring going into Q2 2018
- Employers are projecting little increase in hiring from Q1 2018 to Q2, according to a new ManpowerGroup report. Data from the staffing corporation shows that among 11,500 U.S. employers surveyed, only 23% expect to increase hiring by in Q2, while 73% expect to maintain current staff levels. The latter number is up slightly from 71% in Q1.
- Employers in all four regions of the U.S. expect a positive hiring outlook in Q2, according to the report. Midwest employers anticipate the strongest labor market, with a hiring outlook of +20% in Q2, and employers in the West come in second, with an outlook of +19%. Hiring by employers in the South (+18%) and the North (+17%) are expected to be relatively stable in Q2 compared to Q1 levels.
- Employers in all 13 industry sectors expect hiring increases. The leisure and hospitality industry anticipates the biggest increase (+28%), followed by professional and business services, wholesale & retail trade, durable goods manufacturing, transportation and utilities, and construction.
The U.S. Bureau of Labor Statistics (BLS) just released its monthly jobs report for February, showing a gain of 313,000 jobs. Although the construction industry claimed most of the BLS' observed growth, employers in that industry aren't projecting the greatest amount of staffing additions next quarter, according to ManpowerGroup data.
The increase in jobs from 200,000 in January to 313,000 in February is significant. If the unemployment rate drops to 3.5% during the year, as some economists predict, and skills shortages persist, employers might need to take bolder actions in hiring, such as raising wages and offering more generous incentives, such as customized voluntary benefits and paid leave.