Signs Point To No Or Slow Growth In Global Job Markets In 2013

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Spring 2012: More Jobs For College Grads?

Who's In Demand? Job market improving for some college grads.

Who’s In Demand? Job market improving for some college grads.

Employers expect to hire 13% more new college graduates from the class of 2013 than they did from the class of 2012, according to National Association of Colleges and Employers’ (NACE) Job Outlook 2013 survey, released in September 2012.

Employers in pharmaceutical manufacturing, computer and electronics manufacturing, retail, finance, insurance, real estate, management consulting and professional services anticipate double-digit increases in hiring, according to NACE.

The percentage of employers with firm plans in place for spring recruiting is also on the upswing, NACE says.

This year, 37.6% of survey participants indicated firm plans to recruit in spring 2013, while 34.4% of employers that participated in the Job Outlook 2012 survey indicated firm plans to recruit in spring 2012.

Temporary staffing company ManpowerGroup’s fourth-quarter 2012 Manpower Employment Outlook Survey released in September 2012 predicts that job seekers should encounter varying degrees of positive hiring activity across 31 of 42 countries and territories.

Employers in 22 markets reporting improved or stable hiring compared to the third quarter. However, the pace of hiring is expected to weaken in 26 markets compared to one year ago. Interestingly, in the emerging markets of China, Brazil and India, employers in nearly all industries expect to slow the pace of hiring from this time last year—most notably in India.

In the world’s seven largest economies, hiring forecasts remain positive yet conservative in all countries except Italy where the outlook is negative, according the Manpower survey.

“There is so much uncertainty in the global labor market now and that is undermining employer hiring confidence. If these uncertainties—the debt crisis in Europe, rumblings of a slowdown in China, the U.S. presidential election and healthcare costs coming in that can’t be calculated—keep stacking up, we will see the global labor market’s slow, steady hiring mode shift to a pause,” said Jeffrey A. Joerres, chairman and CEO of ManpowerGroup.

“We’re seeing the beginning of that in the data for India with employers not shedding staff, but downshifting hiring considerably until they see more positive signals. In the U.S., employers remain confident enough to maintain the same steady hiring pace seen over the past year.”

ManpowerGroup’s global research indicates employers are most confident about adding employees during the next three months in Taiwan, India, Panama, Brazil, Turkey and Peru.

Employers in Greece, Italy, Finland, Ireland, Spain, Slovakia, Netherlands, Czech Republic and Poland report the weakest and only negative hiring intentions worldwide.

Both World Bank and the International Labour Organization have been predicting that that industry worldwide will need to create more than 600 million new jobs in the next 15 years to keep up with growth in the employment market.

“And if you look at the demographics and what is coming ahead, over 15 years, a total of 600 million additional jobs will have to be created,” said Martin Rama, director of the World Bank’s World Development Report, said during a 1 October 2012 press briefing in Washington, D.C.

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