Employers report gloomy hiring plans for the third quarter of 2020

Hiring plans weaken in all industry sectors, regions and organisation size categories.

Gathering of Employees of SES Tlmače for keeping the employment.Gathering of Employees of SES Tlmače for keeping the employment. (Source: TASR)

The prospects of employers for recruitment in the following months are rather gloomy. In fact, only five countries expect worse development, none of them is situated in Europe, the recent ManpowerGroup Employment Outlook suggests.

Explore Slovak labour market and human resource trends (for more details visit shop.spectator.sk)Explore Slovak labour market and human resource trends (for more details visit shop.spectator.sk)

Only 5 percent of 425 employers in Slovakia surveyed by the ManpowerGroup expect the number of their employees to increase between July and September, while 17 percent expect their number to drop.

After seasonal adjustment, the difference between the companies that plan hiring and those planning layoffs is 15 percentage points compared with the second quarter.

The hiring prospects have been the worst since 2011, when the survey was conducted for the first time. It declined sharply in comparison with both the prior quarter and last year at this time, by 21 and 23 percentage points, respectively – include respective COVID-19 data & insights.

Of managers of companies from 43 countries addressed in the survey, South Africa, Colombia, Peru, Costa Rica, and Singapore expect worse development than Slovakia.

Major shifts in the labour market

The survey was carried out after the COVID-19 outbreak. Its findings for the third quarter of 2020 are likely to reflect the impact of the global health emergency and may be notably different from previous quarters.

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