*Net Employment Outlook results range from +100% to –100%
Executive
Summary
In the latest edition of the
ManpowerGroup Employment
Outlook Survey, 40,374 employers
from 42 countries were asked
about their third quarter hiring
intentions, AI adoption journey, and
challenges faced along the way.
22% Global Net Employment Outlook:
Calculated by subtracting employers planning reductions vs.
those planning to hire.* Unchanged since the previous quarter
but weakening when compared to the same time last year by -6%.
More than half (55%) of employers expect to increase
headcount due to AI and ML over the next two years and nearly one in
four believe there will be no impact.
Highest Global Hiring Demand:
Information
Technology (IT)
Finance and
Real Estate
Nearly half of companies (48%) said they
have already adopted AI, an increase of 13% year-over-year, though
employers reveal that AI optimism varies by seniority.
Healthcare and
Life Sciences
Q3 Employment Outlooks
Q3 2024 | 5
Global Employment
Outlook for Q3 2024
Used internationally as a bellwether of labor
market trends, the Net Employment Outlook
(NEO) — calculated by subtracting the
percentage of employers who anticipate
reductions to staffing levels from those
who plan to hire — continues at 22%.
Global Net
Employment
Outlook
22%
of employers anticipate
an increase in hiring
anticipate a decrease
report no change
are unsure
42%
20%
35%
3%
Q3 Employment Outlooks
Q3 2024 | 7
Hiring Expectations for July through September by Country
Seasonally Adjusted
Net Employment
Outlooks (NEO)
35% Costa Rica
Strongest NEO
22% Global
Average NEO
3%
Argentina and Romania
Weakest NEO
Switzerland 34%
Guatemala 32%
Mexico 32%
South Africa 31%
India 30%
U.S. 30%
China 28%
The Netherlands 28%
Brazil 27%
Belgium 25%
Peru 25%
France 24%
Canada 23%
Costa Rica 35%
Germany 23%
Ireland 23%
Finland 22%
Norway 22%
Austria 20%
Colombia 20%
Singapore
20%
U.K. 20%
Panama 19%
Portugal 18%
Taiwan 18%
Türkiye 17%
Italy 16%
Australia 15%
Spain 15%
Hungary 14%
Poland 14%
Sweden 13%
Japan 12%
Greece 10%
Puerto Rico 8%
Hong Kong 8%
Czech Republic 8%
Chile* 7%
Israel 4%
Argentina
3%
Romania
3%
Slovakia 15%
*Chile joined the program in Q2 2024. There is currently no historical data, and the data has not been seasonally adjusted.
Q3 Employment Outlooks
Q3 2024 | 8
Year-Over-Year Changes by Country
Austria +6%
Italy +6%
Slovakia +5%
Taiwan +3%
Belgium +2%
France +2%
Poland +2%
Hungary +1%
Argentina +0%
Finland -1%
Japan -1%
Guatemala -3%
Ireland -3%
Switzerland +7%
Mexico -4%
Norway -4%
Spain -5%
U.S. -5%
Brazil
-6%
Colombia -6%
India -6%
Germany -6%
Global Average
-6%
Greece -6%
Sweden -6%
Türkiye -6%
Canada -7%
South Africa -3%
Costa Rica -8%
Czech Republic -8%
Portugal -9%
U.K. -9%
The Netherlands -11%
Israel -12%
Romania -13%
Panama -14%
Singapore -14%
Peru -16%
Australia -22%
Hong Kong -25%
Puerto Rico -27%
China -7%
Seasonally Adjusted
Changes to NEO
Since Q3 2023
+7%Switzerland
Most Strengthened Outlook
-27% Puerto Rico
Most Weakened Outlook
-6% Global
Global Average
*Chile joined the program in Q2 2024. There is currently no historical data, and the data has not been seasonally adjusted.
Q3 Employment Outlooks
Q3 2024 | 9
Most Significant Outlook
Improvements for Q3
Employers in 9 countries
report a stronger hiring
Outlook compared with
the same period last year,
weakening in 31, and
remaining unchanged in 1.
Switzerland
+7%
Austria
+6%
Italy
+6%
Quarter-Over-Quarter Improvements
Year-Over-Year Improvements
Italy
+7%
Portugal
+7%
Slovakia
+5%
Brazil
+9%
Q3 Employment Outlooks
Q3 2024 | 11
Global Employment Outlooks Across Key Industry Sectors
Businesses in the Information Technology (IT) industry reported the strongest Outlook for the seventh
consecutive quarter but declined 5% versus Q2 2024.
29%
27%
27%
24%
21%
21%
16%
11%
9%
Consumer
Goods and
Services
*Includes: Government or Public Service; Not for Profit/NGO/Charity/Religious organization; Other Industry; Other Transport, Logistics and Automobiles Sub-Industry; Educational Institutions; Agriculture and Fishing
Information
Technology
Financials and
Real Estate
Healthcare
and Life
Sciences
Industrials and
Materials
Energy and
Utilities
Communication
Services
Transport,
Logistics and
Automotive
Other*/None
of the Above
Q3 Employment Outlooks
Q3 2024 | 12
Employment Outlooks Across
Europe, the Middle East, and Africa
Hiring expectations remain the lowest in Europe, the Middle
East, and Africa (18%), but strengthened by +2% since Q2 2024
and weakened -3% year-over-year.
Outlooks vary across the region with employers most keen to hire in
Switzerland (34%), South Africa (31%), and The Netherlands (28%).
Weakest Outlooks are in Romania (3%) and Israel (4%).
The strongest hiring intentions globally for the Energy & Utilities
(66%) industry vertical are reported by employers in Switzerland,
Transport and Logistics & Automotive (50%) and Industrials &
Materials (47%) in Ireland.
Strongest Hiring Intentions
Weakest Hiring Intentions
Switzerland
34%
South Africa
31%
The Netherlands
28%
Romania
3%
Israel
4%
Q3 Employment Outlooks
Q3 2024 | 13
Strongest Hiring Intentions
Weakest Hiring Intentions
India
30%
China
28%
Hong Kong
8%
Japan
12%
Employment Outlooks
Across The Asia-Pacific
Hiring managers across the Asia-Pacific
countries anticipate the second strongest regional
Outlook (23%), a decline from both the previous quarter
(-4%) and when compared to the same time last year (-8%).
India (30%) and China (28%) continue to report the strongest
Outlooks in the region.
The most cautious Outlooks were reported by employers in
Hong Kong (8%) and Japan (12%).
Q3 Employment Outlooks
Q3 2024 | 14
Employment Outlooks
Across the Americas
Employers from all 12 countries surveyed across
North, Central, and South America reported positive
employment Outlooks for Q3, though hiring intentions have
decreased in 4 countries quarter-over-quarter and in 10
compared to this time last year.
Employers in Costa Rica (35%), Guatemala (32%), and Mexico
(32%) reported the strongest hiring intentions across the regions for
Q3.
The strongest Outlooks globally for both the Consumer Goods &
Services (54%) industry verticals are reported by employers in
Guatemala, Communication Services (44%) in Mexico, Financials &
Real Estate (54%) and Healthcare & Life Sciences (46%) in Costa
Rica, and Information Technology (50%) in the U.S.
Strongest Hiring Intentions
*Chile joined the program in Q2 2024. There is currently no historical data, and the data has not been
seasonally adjusted.
Argentina
3%
Chile*
7%
Costa Rica
35%
Guatemala
32%
Weakest Hiring Intentions
Mexico
32%
Workforce Trends
Q3 2024 | 16
Navigating AI Adoption
Nearly half (48%) of companies said they have already adopted AI, including generative conversational AI. This is a
13% increase when compared to employers’ responses one year ago (35%).
14%
17%
17%
18%
24%
29%
31%
30%
21%
22%
21%
21%
Generative Conversational AI
Machine Learning (ML)
Virtual Reality
Artificial Intelligence (AI)
Next 12 monthsEarly adopter Current adopter
Next 12 monthsEarly adopter Current adopter
Next 12 monthsEarly adopter Current adopter
Next 12 monthsEarly adopter Current adopter
Workforce Trends
Q3 2024 | 17
Employers reveal that AI optimism varies by seniority. With a 12-point-gap
between senior leadership and frontline workers, leaders can seize the opportunity
to clearly communicate the positive influence that AI will bring to their workload.
Diverging Sentiments Emerge on AI
Impact to Work
57%
Factory floor
and frontline
workers
68%
Office
workers
67%
Middle
managers and
supervisors
69%
Senior
leadership
Factory floor and
frontline workers are
least optimistic about AI
Workforce Trends
Q3 2024 | 18
AI Optimism
Varies by Seniority
and Region
Most of the workforce (65%) at all
seniority levels believe AI will have a
positive impact on the future of work.
However, the level of optimism varies
based on the region and seniority of the
employees. While office professionals in
the South and Central Americas are the
most optimistic (76%) about the positive
impact of AI, less frontline workers (54%)
in Europe share this view.
Middle managers and supervisors
Office workers
Factory floor and frontline workers
Senior leadership
66%
67%
59%
68%
Middle managers and supervisors
Office workers
Factory floor and frontline workers
Senior leadership
74%
76%
66%
73%
Middle managers and supervisors
Office workers
Factory floor and frontline workers
Senior leadership
65%
66%
54%
67%
Middle managers and supervisors
Office workers
Factory floor and frontline workers
Senior leadership
68%
68%
56%
69%
North
America
South and
Central America
EMEA
Asia-
Pacific
66%
67%
59%
68%
74%
76%
66%
73%
65%
66%
54%
67%
68%
68%
56%
69%
Workforce Trends
Q3 2024 | 19
Employers Reveal that Nearly
All Organizations Encounter AI
Adoption Challenges
Most common ones relating to cost, privacy, and lack
of AI skills.
31%
33%
High cost of
investment
Concerns about
privacy &
regulations
Workers don’t
have the skills to
use AI effectively
31%
33%
31%
31%
26%
26%
24%
22%
22%
18%
4%
High cost of investment
Concerns about
privacy & regulations
Workers don’t have the
skills to use AI effectively
Lack of appropriate
AI tools & platforms
Workers are resistant to change
Implementing AI effectively
is too complex
Our organization’s data is not
structured enough to use AI
Identifying relevant use cases
Leaders are resistant to change
None of the above
Workforce Trends
Q3 2024 | 20
78%
Information
Technology
78%
Financials and
Real Estate
72%
70%
70%
64%
63%
62%
61%
59%
Overall business performance
Required employee training
Onboarding process
Recruiting process
Employee engagement
ESG initiative performance
Upskilling & reskilling
of existing employees
Diversity, Equity, Inclusion, &
Belonging (DEIB) initiatives
Employers Begin Identifying
Future Impacts From AI
When asked to predict the future impact of AI and
ML at their organization, employers globally found
consensus across industries and regions that
these tools will have a positive impact on
business performance, especially in the IT and
Financials and Real Estate industries. They were
nearly equally optimistic about the effect on
upskilling, reskilling, and training employees.
Workforce Trends
Q3 2024 | 21
Increase
headcount
No impact to
headcount
Decrease
headcount
Global Average 55% 24% 18%
Communication Services 59% 23% 16%
Consumer Goods & Services 52% 25% 20%
Energy & Utilities 63% 22% 14%
Financials & Real Estate 57% 21% 19%
Healthcare & Life Sciences 51% 26% 18%
Industrials & Materials 55% 24% 17%
Information Technology 60% 22% 17%
Transport, Logistics & Automotive
58% 22% 17%
Projected Impact
of AI and ML on
Headcount by
Industry
Over half of companies expect to
increase headcount due to AI and
ML over the next two years.
Nearly one in four believe there will
be no impact and less than one in
five anticipate staffing decreases.
Workforce Trends
Q3 2024 | 22
Engaging the Next
Generation of Workers
Employee engagement and motivation,
expectations around work-life balance, and
career advancement are the top three
challenges employers are facing with newer
workers (less than 10 years in the workforce).
34%
32%
32%
31%
30%
28%
27%
23%
23%
4%
Employee engagement & motivation
Work-life balance expectations
Career advancement expectations
Compensation expectations
Workplace technology expectations
(e.g., generative AI)
Recruiting & retention
Lacking skills to perform their role
Different communication preferences
than more experienced workers
Need for manager supervision
Our organization has no challenges with
those newer to the workforce
Employee
engagement and
motivation is the
top challenge
employers face
with new workers
Workforce Trends
Q3 2024 | 23
76%
75%
73%
73%
73%
73%
72%
71%
70%
68%
67%
Improving technology tools
Emphasis on overall well-being
Flexibility in work hours
Increased compensation &
financial stability
Increased transparency around internal
career development options
Increased focus on purpose & values
Improved onboarding experience
Formal leadership coaching
& mentoring programs
Flexibility in remote work options
Increased investment on
sustainability initiatives
Increased investment on Diversity, Equity,
Inclusion, & Belonging (DEIB) initiatives
Employers globally have found that
improving technology tools and
emphasizing well-being are the top
two drivers in boosting engagement and
productivity of their newer workforce.
Improving Tech
Tools Points to
Promising Results
82%
in Central and
South America
Improving
technology
tools
Outlooks by Industry Vertical
Q3 2024 | 25
A majority (73%) of Communication Services
organizations report difficulty finding the
skilled talent they need.*
The global NEO for the Communications
Services industry is 11%. This figure decreased
5% from the previous quarter and 11% when
compared to the same period last year.
* The 2024 Global Talent Shortage, ManpowerGroup
Communication
Services
Reported
Talent Shortage
73%
Global Net
Employment Outlook
11%
Outlooks by Industry Vertical
Q3 2024 | 26
A majority (76%) of Consumer Goods and
Services employers report difficulty finding the
skilled talent they need.*
The global NEO for Consumer Goods and
Services employers is 21%. This figure
increased 3% from the previous quarter and
is down 3% year-over-year.
* The 2024 Global Talent Shortage, ManpowerGroup
Consumer Goods
and Services
Reported
Talent Shortage
76%
Global Net
Employment Outlook
21%
Outlooks by Industry Vertical
Q3 2024 | 27
A majority (71%) of Energy and Utilities
employers report difficulty finding the skilled
talent they need.*
The global NEO for Energy and Utilities
employers is 9%. This figure decreased 9%
from the previous quarter and 25% when
compared to the same period last year.
* The 2024 Global Talent Shortage, ManpowerGroup
Energy and Utilities
Reported
Talent Shortage
71%
Global Net
Employment Outlook
9%
Outlooks by Industry Vertical
Q3 2024 | 28
A majority (72%) of Financials and Real Estate
employers report difficulty finding the skilled
talent they need.*
The global NEO for Financials and Real Estate
employers is 27%. This figure decreased 2%
from the previous quarter and 4% when
compared to the same period last year.
* The 2024 Global Talent Shortage, ManpowerGroup
Financials and
Real Estate
Reported
Talent Shortage
72%
Global Net
Employment Outlook
27%
Outlooks by Industry Vertical
Q3 2024 | 29
A majority (77%) of Healthcare and Life
Sciences employers report difficulty
finding the skilled talent they need.*
The global NEO for Healthcare and Life
Science employers is 27%. This figure
increased 1% from the previous quarter
and remains unchanged year-over-year.
* The 2024 Global Talent Shortage, ManpowerGroup
Healthcare
and Life Sciences
Reported
Talent Shortage
77%
Global Net
Employment Outlook
27%
Outlooks by Industry Vertical
Q3 2024 | 30
A majority (75%) of Industrials and Materials
employers report difficulty finding the skilled
talent they need.*
The global NEO for Industrials and Materials
employers is 24%. This figure increased 2%
from the previous quarter and is down 4%
when compared to the same period last year.
* The 2024 Global Talent Shortage, ManpowerGroup
Industrials and
Materials
Reported
Talent Shortage
75%
Global Net
Employment Outlook
24%
Outlooks by Industry Vertical
Q3 2024 | 31
A majority (76%) of IT employers report
difficulty finding the skilled talent they need.*
The global NEO for IT employers is 29%.
This figure decreased 5% from the previous
quarter and 10% when compared to the
same period last year.
* The 2024 Global Talent Shortage, ManpowerGroup
Information
Technology (IT)
Reported
Talent Shortage
76%
Global Net
Employment Outlook
29%
Outlooks by Industry Vertical
Q3 2024 | 32
A majority (76%) of Transport, Logistics and
Automotive employers report difficulty finding
the skilled talent they need.*
The global NEO for Transport, Logistics and
Automotive employers is 21%. This figure
increased 5% from the previous quarter and
is down 7% year-over-year.
* The 2024 Global Talent Shortage, ManpowerGroup
Transport, Logistics
and Automotive
Reported
Talent Shortage
76%
Global Net
Employment Outlook
21%
About the Survey
Q3 2024 | 34
Forward-Looking Statements:
This report contains forward-looking statements,
including statements regarding labor demand in
certain regions, countries and industries, economic
uncertainty and the use and impact of AI . Actual
events or results may differ materially from those
contained in the forward-looking statements, due to
risks, uncertainties and assumptions. These factors
include those found in the Company's reports filed
with the U.S. Securities and Exchange Commission
(SEC), including the information under the heading
"Risk Factors" in its Annual Report on Form 10-K for
the year ended December 31, 2023,
whose information is incorporated herein by
reference. ManpowerGroup disclaims any obligation
to update any forward-looking or other statements in
this release, except as required by law.
Unique: It is unparalleled in its size, scope, longevity and area of focus. The Survey is the most extensive, forward-looking employment
survey in the world, asking employers to forecast employment over the next quarter. In contrast, other surveys and studies focus on
retrospective data to report on what occurred in the past.
Independent: The Survey is conducted with a representative sample of employers from throughout the countries and territories in
which it is conducted. The survey participants are not derived from ManpowerGroup’s customer base.
Robust: The Survey is based on interviews with 40,374 public and private employers across 42 countries and territories to measure
anticipated employment trends each quarter. This sample allows for analysis to be performed across specific sectors and regions to provide
more detailed information.
Focused: For more than six decades, the Survey has derived all its information from a single question: “How do you anticipate total
employment at your location to change in the three months to the end of September 2024 as compared to the current quarter?”
Survey Methodology: The methodology used to collect NEO data has been digitized in 42 markets for the Q3 2024 report.
Survey responses were collected from April 1-30, 2024. Both, the question asked and the respondent profile remain unchanged. The size
of the organization and sector are standardized across all countries and territories to allow international comparisons.
About the Survey
The ManpowerGroup Employment Outlook Survey is the most comprehensive, forward-looking employment
survey of its kind, used globally as a key economic indicator. The Net Employment Outlook is derived from the
percentage of employers anticipating an increase in hiring activity and subtracting from it the percentage of employers
expecting a decrease. Running since 1962, various factors underpin its success:
About the Survey
Q3 2024 | 35
Frequently Asked Questions
What does Net Employment Outlook mean?
The Net Employment Outlook (NEO) is derived by taking the percentage of employers
anticipating an increase in hiring activity and subtracting from this the percentage of
employers that expect to see a decrease in employment at their location in the next quarter.
A positive NEO figure means that, on balance, more employers expect to add to their
headcount in the following three months than those who intend to reduce staff.
What does Seasonal Adjustment mean? Why is it used in the
ManpowerGroup Employment Outlook Survey?
Seasonal adjustment is a statistical process that allows the Survey data to be presented
without the impact of hiring fluctuations that normally occur through the course of the year –
typically due to various external factors, such as changes in weather, traditional production
cycles and public holidays. Seasonal adjustment has the effect of flattening peaks and
smoothing troughs in the data to better illustrate underlying employment trends and provide a
more accurate representation of the Survey results.
How are companies selected for
the Survey?
Employers are selected based on the types of companies
and organizations they represent. We want to ensure that our
panel is representative of each participating country’s national
labor market, so each country’s panel is built in proportion to
that country’s overall distribution of industry sectors and
organization sizes.
Who do you interview in each company?
The person we select to interview will be someone with a good
overview of staffing levels and hiring intentions within their
organization. Normally, this will be the head of human resources
(HR) or an HR manager. In smaller organizations, however, that
person may be a general manager or even the CEO.
