Manpower Group Mexico’s Employment Expectations Survey indicates that the net employment outlook, which is measured by the percentage of companies planning to hire personnel minus those that are planning to reduce their workforce, is at 23% in 1Q23. The group announced a 6% decrease from 4Q22 to 1Q23 and a 14% year-to-year fall.
The company’s survey, which reports on trends on the economic and labor market, shows that organizations in the IT sector have the highest expectations with a 35% net employment outlook. The Finance and Real Estate industry also presents an optimistic 28%, followed by energy and public services at 26%. North America registers the highest net employment outlook for 2Q23, at 31%. In South and Central America, expectations stand at 28%. By country, Panama reports the highest net employment outlook at 39%, followed by Costa Rica with 35% and Canada with 34%, explained Manpower Group via a press release.
Manpower found that large organizations, which typically consist of more than 250 employees, have more than double the hiring optimism than micro-organizations. Micro-organizations (those with under 10 employees) report a 13% net employment outlook, while large organizations report 29% globally.
In Mexico, over 1,000 employers nationwide report lower hiring intentions than in 4Q22, due to seasonal adjustments. Hiring intentions dropped by 21% on a year-to-year basis and 12% from 4Q22 to 1Q23. Manpower’s survey for Mexico indicates that 46% of employers planned to hire new personnel, while 18% expected to reduce their staff. The survey also indicated that 33% of employers do not plan to change their staff and 3% responded that they have no plans yet.
In Mexico, the mining industry has been one of the largest job providers for the economy, with the Mexican Institute of Social Security (IMSS) registering 406,179 workers in 2022. The mining industry had 354,702 people registered in 2016, which shows the industry’s remarkable growth, as reported by MBN.