MILWAUKEE, Sept. 8, 2020 /PRNewswire/ — The impact of the COVID-19 health, economic and social crisis continues to weigh heavily on the global labor market yet early signs of recovery are beginning to emerge according to the latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey of over 38,000 employers in 43 countries conducted in July 2020.
- Hiring intentions improve since last quarter in 37 of 43 countries though 41 decline year-over-year. Taiwan, the U.S., Turkey and Japan report the strongest Outlooks while Panama, Costa Rica, South Africa and Colombia report the weakest.
- Employers believe labor market recovery will take longer than first anticipated: When asked in April 54% expected a return before April 2021, now down to 31%. 13% believe hiring will not return until after July 2021 and 18% believe there will be no return to normal (vs.13% when asked in April)
- Not all furloughed workers