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Hiring optimism is being tempered by the highest levels of global talent shortages in 16 years. Shifting demographics, including shrinking birth rates and the rise in early retirees, means talent is scarcer than ever before, as per ManpowerGroup Employment Outlook Survey. 

Employers report difficulty filling open roles, with the biggest impacts being felt in Taiwan, Portugal, Singapore, China, Hong Kong, and India. Organizations are finding it difficult to get the right candidates with the required skillsets for certain professions. 

Demand for skills is at record highs in many markets and unemployment levels remain high while workforce participation stagnates, as per the survey. 

Therefore employers are anticipating strong demand for talent across these sectors: Digital roles continue to drive most demand: IT & Technology reported the strongest outlook (+68%), followed by Banking, Finance, Insurance and Real Estate (+60%), Other Services (+52%), Restaurants and Hotels (+48%) and Manufacturing (+48%).

When compared to same period last year, increased hiring intent is witnessed in the IT, Tech, Telecoms, Communications and Media, followed by Banking, Finance, Insurance and Real Estate.

Meanwhile, the top 5 sectors finding it hard to get the right candidates for their respective roles are IT & data, sales & marketing, operations & logistocs, manufacturing & production, administration & office support skills, showed the survey, adding that the most difficult roles to fill are in Construction, Manufacturing, Wholesale & Retails Trade, Information Technology, Telecoms, Communications and Media.

Employers are also finding it hard to find soft skills in candidates which are creativity & originality, critical thinking and analysis, reasoning and problem-solving, leadership and social influence skills, and initiative taking skills.

In the recent edition of the ManpowerGroup Employment Outlook Survey of more than 3,000 employers, India indicated the highest outlook in 8 years. 

“A significantly healthy job market is expected in India during the quarter from July to September 2022, with a Net Employment Outlook (NEO) of +51 percentage points. Hiring decision makers anticipated trend leads to an increase by +13 percentage points compared to the last quarter and grow by 46 points when compared with predictions from Q3 2021," the survey added.

 

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