Some 44% of employers around the globe plan to increase hiring in Q4

The labor market had a rough start in 2023. Personally, we blame Mercury retrograde.

Regardless of whether the planets or a market correction have been to blame for the surge in layoffs, a new report from staffing firm ManpowerGroup examining the global employment outlook found that 44% of employers plan to increase hiring in the final quarter of 2023. Just 14% expect to decrease hiring, and 38% don’t foresee a change.

The survey’s respondents appear to be right on trend: Goldman Sachs recently predicted that the US has a 15% chance of entering a recession in the next year, down from 35% in March, according to CNN.

Despite the seemingly strong Q4 outlook, 77% of businesses said recruiters were struggling to find talent with the right skills for their jobs, up from 54% in 2019. While respondents appeared just as likely to recruit permanent workers as temporary employees to fill the gaps (42%), they’re getting more creative about who they’re considering for jobs. For example, 34% said they’re turning to older workers seeking career changes, while 26% reported considering long-term unemployed candidates, and 23% will look at applicants who don’t meet all the technical requirements for the roles.

We hear Mercury sneaks back into retrograde by mid-December, so we could be in for a rough year-end. ;)