Employment expectations for the second quarter of the year — from April to June — remain “moderate” according to a private survey conducted by the consultancy firm ManpowerGroup. The finance, construction and technology sectors are the ones that lead the hiring intentions according to the Argentine businessmen consulted.
All in all, Net Employment Expectation (ENE) for the second quarter of 2022 is 12%, which means an increase of 5 percentage points compared to the last quarter of 2021. However, despite the improvement, they are the lowest in the region. The value of the ENE is obtained by taking the percentage of employers who expect to increase their workforce and subtract the percentage of those who project a decline during the next quarter.
The regions with the strongest recruitment expectations are Cuyo and NOA, both with 19%. The AMBA reports the weakest intentions, with 10%. The banking, finance, insurance and real estate sector leads the sample's intentions, with 23%.
Regarding the methodology of the survey, Manpower highlighted that the fieldwork was carried out between January 6 and 26, in the middle of the third wave of coronavirus by the Ómicron variant, and, in addition, the industries surveyed were updated: growing sectors such as IT, technology, telecommunications, communications and media such as as well as non - profit organizations and restaurants and hotels.
“The results reveal that 35% of the employers surveyed plan to increase their staffing levels, 22% decrease them, 38% do not expect to make changes and the remaining 5% do not know if they will make them during the period surveyed,” they explained.
“We observed that 35% of employers surveyed plan to increase their payroll in the second quarter of the year, while in the last survey of 2021 8% intended to do so,” said Luis Guastini, Managing Director of ManpowerGroup Argentina.
“Although these results show optimism in several sectors, it is observed that employment expectations in Argentina are still moderate, compared to the rest of the countries where we carry out this survey. They are moderate for several reasons, including the time when the survey was conducted, in the middle of the third wave, and because of a drag of a hard-hit economy,” he added.
The manager also stressed that there is a significant voluntary turnover of staff in the labour market. “It is a global phenomenon that also occurs in Argentina, people who are looking for a change in their work. Expectations about job search priorities, such as remote work or flexible hours, changed,” Guastini said.
“In Argentina, moreover, inflation is producing many decouples. A change of company represents an improvement in wages when they are updated for inflation. During the pandemic, many companies also became more digitized and this requires looking for talent outside the company,” he added.
In the six regions of the country surveyed by the consultancy, employers expect to increase their payrolls during the second quarter of 2022. The regions of Cuyo and Northwest Argentina (NOA) lead this trend, with an ENE of 19%, followed by Patagonia, with 17% and by Northeastern Argentina (NEA), with 14%. The AMBA has the weakest hiring expectations, with 10%.
Compared to the last quarter of 2021, hiring intentions are increasing in all six regions. Patagonia leads this trend with an improvement of 17 percentage points, followed by Cuyo, with an increase of 13 percentage points and the NEA, with 12 percentage points.
In the Americas, employers in the ten countries surveyed expect increases in their recruitment expectations for the second quarter of the year, driven mainly by the new activities incorporated into the study. In turn, compared to the last quarter of 2021, employment prospects increase in seven of the ten countries surveyed. Brazil leads this trend (with 40%), followed by Colombia (38%), Mexico (38%) and Canada (37%). On the contrary, Argentina is the country with the weakest expectations in the region (12%), followed by Peru (24%) and Costa Rica (29%).
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