CITY JOB PROSPECTS HELP
KEEP UK EMPLOYER HIRING CONFIDENCE BUOYANT
Manpower Employment Outlook Survey Q3 2004
Employers in the financial services sector are
reporting their highest third-quarter hiring intentions since 1998,
helping UK job prospects achieve a Net Employment Outlook of +14%,
says the latest Manpower Employment Outlook Survey. However, a shortage
of skills in some sectors means many employers are constantly trying
to fill long-term vacancies.
Hazel Detsiny, director at Manpower, comments: “There’s
widespread confidence across UK business sectors. The news from
the Finance and Business Services sector – based primarily
in London and the South East – is encouraging. We believe
some of this intention to hire is influenced by a perceived need
to employ additional staff to cope with stricter controls and legislation
within this industry. However, there is also increased economic
confidence and business growth.”
The Manpower Employment Outlook Survey measures employer hiring
intentions for the quarter ahead: July to September 2004. 2,500
UK employers were surveyed in the UK and over 35,000 employers in
19 countries and territories globally. The Net Employment Outlook¹
for the UK in Q2 is +14%. When seasonal variations are taken into
account, the Outlook is +12%.²
At the same time, employers are still reporting that it is hard
to find staff with the right qualifications. Further research conducted
by Manpower indicates that 21% of UK employers are faced with skill
shortages. Detsiny believes the recent enlargement of the EU could
provide a wider labour pool for UK employers, which could contribute
towards tackling the skills gap:
“Contrary to much speculation, the recent expansion of the
EU hasn’t yet resulted in a flood of migrant labour. However,
there is an opportunity for employers to tap into new pools of labour
from new member states. Our research also shows that one in five
employers would consider employing someone from the accession states
to help fill this need. In the short-term, however, lack of skills
in many sectors is likely to persist.”
Across the UK, eight of the nine industry sectors surveyed by Manpower
are planning to take on staff next quarter. Employers in the Transport
and Communications; Finance and Business Services; Construction;
and Manufacturing sectors all reported figures above the national
average. However, the Hotel and Retail sector – often seen
as a good indicator of consumer confidence – has declined
by 6 percentage points over the last quarter to +10%.
Employers in eleven of the twelve regions surveyed intend to take
on more staff for the quarter ahead. Employers in East Anglia are
the most optimistic. Conversely, employers in the West Midlands
and the North West are the least optimistic: both regions reported
year-on-year and quarter-on-quarter declines.
Of the 11 European countries surveyed, as in quarter three, all
except Germany (-4%) reported positive hiring intentions. The strongest
outlooks in Europe are reported in Ireland (+18%),Sweden (+16%),
Spain (+14%), and the UK (+14%). (Note: Avoid ranking)
Looking at the results from a global level, 18 of the 19 countries
surveyed by Manpower anticipate positive Net Employment Outlooks
for the three months ahead. New Zealand (+30%) and Canada (+25%)
report the most buoyant forecasts. Employers in 16 of the 19 countries
expect more hiring compared to this time last year.
ENDS
NOTES TO EDITORS
¹A ‘Net Employment Outlook’ is calculated by subtracting
those employers who plan to reduce staffing levels from those who
plan to hire staff. A positive result indicates that more employers
plan to increase rather than decrease staffing levels; a negative
result reflects the opposite. [% increase (21%) - % decrease (5%)
= 16%]
²Seasonally adjusted figures are those that have been modified
to take into account variations in figures that can occur due to
the seasons, i.e. Spring, Summer, Autumn and Winter.
For international comparisons and visual library with graphs, visit
www.manpower.com
About the Manpower Employment Outlook
Survey
Manpower is a leading recruiter of permanent, temporary and contract
workforces, employing around 100,000 people in the UK each year.
The Manpower Employment Outlook Survey, [formerly Manpower’s
Quarterly Survey of Employment Prospects] is conducted quarterly
to measure employers’ hiring intentions for the forthcoming
quarter. Unique in its predictive nature, the Survey is widely used
in Government and industry, including The Bank of England’s
Monetary Policy Committee as evidence of labour market activity.
The Survey has been running for more than 40 years and is based
on 2,500 interviews with public and private employers in the UK
and 35,000 interviews collectively across 18 countries worldwide.
See www.manpower.com
for global reports.
About Manpower
Manpower is the UK’s leading workforce management company,
specialising in permanent and temporary recruitment, HR services,
managed services, outsourcing and HR consultancy.
Manpower has been established in the UK since 1956 and today
works with organisations in both the public and private sector.
Manpower’s UK-wide network of 300 offices allows the company
to meet the needs of local and national customers. This includes
numerous small and medium sized enterprises, as well as larger
organisations such as BMW, BT, Heinz, Hertfordshire County Council,
IBM, National Blood Service, New Deal South Wales, Royal Mail
and Xerox.
The focus of Manpower’s work is on raising productivity
through improved quality, efficiency and cost-reduction, enabling
customers to concentrate on their core business.
Manpower has a highly skilled workforce of 100,000 temporary employees
who stay loyal to the company (and its customers) thanks to best
in class employment benefits. These include a contract of employment
and a free e-learning tool offering staff over 1,000 courses in
a diverse range of subjects, keeping Manpower’s workforce
up to date with today’s ever-changing working environment.
See www.manpower.co.uk
For further information, please contact the Manpower Press Office
on 020 8870 2214. Or you can e-mail us by selecting Press
Office from the Contact
Us page.
