U.S. Q3 Employment Outlook Hits 10 Year Low Though Early Signs of Optimism Emerge
Employers in the U.S. report significant declines in hiring intentions for Q3 according to the ManpowerGroup Employment Outlook Survey of more than 7,700 U.S. employers conducted in April and May*. Hiring plans in Wholesale and Retail Trade and Construction show steepest declines from the previous quarter reflecting the impact of Safer at Home / Shelter in Force orders across the country. In contrast, employers in Education and Health Services (+13%) and Transportation and Utilities (+4%) report the most positive outlooks as frontline workers continue to be in high demand both through and after the pandemic peak.
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Employers were also asked when they expect hiring to return to pre-COVID-19 levels. An optimistic 60% said before the end of 2020, with many expecting a return before the end of summer. Employers in Education, Construction and Government expect the shortest COVID-19 hiring impact while those in the Professional sector including law firms, accountants and consultants are most uncertain.
“The past weeks and months have seen the labor market transform overnight, with many industries halting hiring instantly, while others including healthcare, ecommerce and logistics saw immediate growth.” Said Becky Frankiewicz, President of ManpowerGroup North America. “These numbers reveal the depth of the impact this crisis has had on hiring intentions across our country, yet we are beginning to see very early signs for cautious optimism. As states open up essential roles remain in demand, as well as tech skills including software & app developers, and even new roles like temperature checkers and contact tracers. It is encouraging to see so many employers predict a return to pre-pandemic hiring though we must remember any signs of recovery are fragile. Now is the time for everyone to join together to rebuild confidence and create opportunities for everyone as America gets safely back to work”.
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