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ManpowerGroup Employment Outlook Survey Reveals: The Conservative Hiring Pace is Forecast to Continue in Mainland China for Q2 2021, Reporting a Seasonally Adjusted Net Employment Outlook of +5%

2021-03-09

·        With jobgains expected in all six industry sectors during the next three months, thestrongest labor markets are anticipated for the Mining & Constructionsector (+7%) and the Finance, Insurance & Real Estate sector (+6%).

·        Regionally,the strongest hiring activity is anticipated in three regions with Outlooks of+6% - the South, Guangzhou and Shenzhen.

·        Large employers forecast the strongest labor market with an Outlook of+17%.

·        Globally, employers in 31 of the 43 countries and territories surveyedexpect to grow payrolls during the April to June period, including five of theseven Asia Pacific countries and territories.

SHANGHAI (MARCH 9, 2021) – The Second Quarter 2021 EmploymentOutlook Survey released by ManpowerGroup, the leading global workforcesolutions company, reveals employers in Mainland China expect some hiringopportunities during the second quarter of 2021, reporting a seasonallyadjusted1 Net Employment Outlook2 (NEO) of +5%. Hiringplans are unchanged in comparison with the previous quarter and remainrelatively stable when compared with 2Q 2020.

The report also highlights confidence in a labor market rebound. Accordingto the data results,4% of employers in Mainland China stated they expect theircompany to return to pre-pandemic hiring levels in the end of 2021, while 45%of employers say no change to hiring levels since COVID-19. Regarding ways ofworking over the next 6-12 months, the preference is for employees to return tothe office, with 58% of employers indicating staff would be in-office most ofthe time, 27% stating they would offer a hybrid mix of remote and workplace.

With the global roll-out of COVID-19 vaccines in full effect, employerswere also asked how their organization will likely respond in the same survey.18% of employers in Mainland China surveyed feel their staff should bevaccinated, while most employers (37%) have no plans to introduce a fixedvaccination policy and leaving it to their workers to decide. Meanwhile, 14%intend to encourage vaccination by highlighting the benefits or offeringincentives, while 2% will mandate vaccination for some roles only.

“Hiringprospects remain relatively stable both quarter-over-quarter and year-over-yearas a result of the multiple uncertainties from changing epidemicsituations and the external environment,” ManpowerGroupGreater China said. “More optimistically, China continued to widen its openingup, further attract foreign investment and improve the business environment andservices for the development of different kinds of enterprises."

The ManpowerGroup Employment Outlook Survey for the secondquarter 2021 was conducted by interviewing a representative sample of 4,222 employersin China, with 7% expecting to increase staffing levels, 2% forecasting adecrease and 66% anticipating no change. Once the data is adjusted to allow forseasonal variation, the Net Employment Outlook stands at +5%.

Strongest hiring outlook is reportedin the Mining & Construction sector

Workforce gains are forecast for all six Chinese industrysectors during the forthcoming quarter. When compared with 1Q 2021, hiringplans strengthen in one sector, while remaining unchanged or relatively stablein the other five. In a year-over-year comparison, Outlooks weaken in five ofthe six sectors.

The strongest sector labor market is anticipated in theMining & Construction sector, where the Outlook of +7% is the strongestreported in two years. Hiring intentions improve by 3 percentage points whencompared with the previous quarter and remain relatively stable year-over-year.Finance, Insurance & Real Estate sector employers anticipate a fair hiringpace with an Outlook of +6% for the second consecutive quarter. However, theOutlook declines by 2 percentage points when compared with this time one yearago.

图片-行业.png

Source: ManpowerGroupEmployment Outlook Survey

“Withthe implementation of a series of policies to stabilize investment and promotegrowth, especially the hot start of new infrastructure investment projects suchas 5G base station, big data center and industrial Internet, it drives thedevelopment of the construction industry and also brings more employmentopportunities. According to the China Securities Regulatory Commission, Chinawill deepen capital market reforms and opening-up and continue its efforts toavoid risks in 2021.These will contribute to the stable development of thefinancial sector. ” ManpowerGroup Greater China said.

The South, Guangzhou and Shenzhen employers report thestrongest hiring prospects among nine regions and cities3

图片-城市.png 

Source: ManpowerGroupEmployment Outlook Survey

An increase in payrolls is expected for all nine of China’sregions during the April to June period. Hiring sentiment remains relativelystable or unchanged in eight regions when compared with the previous quarter,while declining in one. In a comparison with the second quarter of 2020,Outlooks weaken in seven regions. The strongest hiring activity is anticipatedin three regions with Outlooks of +6% - the South, Guangzhou and Shenzhen. Inthe first of these, employers in the South report no change over the previousquarter, but hiring plans are 2 percentage points weaker in comparison with 2Q2020.

The OutlineDevelopment Plan for the Guangdong-Hong Kong-Macao Greater Bay Area statesthat a world class Greater Bay Area will be built by 2035. The Greater Bay Area willhelp mainland cities to attract more Hong Kong China, and other world's topfinancial and technological talents to work and live in the region.”ManpowerGroup Greater China said, “To be sure, this will boost the South'seconomic development and expand employment opportunities."

Steady hiring intentions are reported by Large-sizeemployers4

Employersexpect to grow payrolls in three of the four organization size categoriesduring 2Q 2021, with Large employers (+17%) reporting the strongest hiringplans. However, Micro employers (-3%) expect to trim payrolls.

图片-规模.png

Source:ManpowerGroup Employment Outlook Survey

Globally,strongest hiring intentions reported in Taiwan China

ManpowerGroupinterviewed 42,135 employers across 43 countries and territories to forecastlabor market activity* in Quarter 2 2021. Interviewing was carried out duringthe exceptional circumstances of the COVID-19 outbreak. The survey findings forthe April to June 2021 period are likely to reflect the impact of the globalhealth emergency, and the ongoing economic disruption in some countries.

Basedon seasonally adjusted analysis*, employers in 31 of the 43 countries andterritories surveyed expect to add to payrolls in the next three months, whileemployers expect to trim payrolls in 10 countries and territories (flat hiringprospects are reported in two). The strongest hiring prospects for the nextthree months are reported in Taiwan China (+24%), the U.S. (+18%), Australia(+17%), and Singapore (+17%). The weakest hiring intentions are reported inPanama (-8%), the UK (-5%), and South Africa (-5%).

Hiringprospects improve in 24 of the 43 countries and territories in comparison withthe prior quarter, while declining in 16 (no change is reported in threecountries and territories).In a year-over-year comparison, hiring plansstrengthen in seven countries and territories, but weaken in 32 (with employersin four reporting no change).

*Commentaryis based on seasonally adjusted data where available. Data is not seasonallyadjusted for Croatia or Portugal.

In addition, results for all 43 countries and territoriescan be viewed in the new interactive ManpowerGroup Employment Outlook SurveyExplorer tool. Thenext ManpowerGroup Employment Outlook Survey will be released on 8th June 2021 and will detailexpected labor market activity for the third quarter of 2021.

Note to Editor

1. Seasonally adjusted data is a statistical process thatallows us to present the survey data without the effect of fluctuations thatnormally occur through the course of the year, as a result of seasonal eventssuch as changes in weather, public holidays, etc. Removal of the seasonaleffect gives us the ability to observe the current labor market trends moremeaningfully. All industry sector data reported above is seasonally adjusted.Regional and city data has not been adjusted to account for seasonal variation.

2. The Net Employment Outlook is derived by taking thepercentage of employers anticipating an increase in hiring activity less thepercentage of employers who expect to reduce their workforces.

3. Since Q1 2012, the previous 16 cities surveyed inmainland China are collected into 9 regions and cities. The five cities includeBeijing, Shanghai, Guangzhou, Shenzhen, and Chengdu. The four regions includeNorth, South, East and Central & West. The North region includes Beijing,Tianjin, Dalian and Chengdu, while the South region includes Guangzhou,Shenzhen, Xiamen and Changsha. The East region includes Shanghai, Nanjing,Suzhou and Hangzhou; and the Central & West region includes Chengdu,Chongqing, Xi’an and Wuhan.

4. Since Q1 2015, ManpowerGroup Employment Outlook Surveyshows the organization sizes data. Participating employers are categorized intoone of four organization sizes: Micro businesses have less than 10 employees;Small businesses have 10-49 employees; Medium businesses have 50-249 employees;and Large businesses have 250 or more employees.

Full survey results for each of the 43 countries andterritories included in this quarter’s survey, plus regional and globalcomparisons, can be found at http://www.manpowergroup.com/meos. In addition, all tables and graphs from the full reportare available to be downloaded for use in publication or broadcast from theManpowerGroup Web site at http://www.manpowergroup.com/press/meos_landing.cfm

About theSurvey

The global leader in innovative workforce solutions,ManpowerGroup releases the ManpowerGroup Employment Outlook Survey quarterly tomeasure employers’ intentions to increase or decrease the number of employeesin their workforce during the next quarter. It is the longest running, mostextensive, forward-looking employment survey in the world, polling almost 42,000employers in 43 countries and territories. The survey serves as a bellwether oflabor market trends and activities and is regularly used to inform the Bank ofEngland’s Inflation Reports, as well as a regular data source for the EuropeanCommission, informing its EU Employment Situation and Social Outlook report theMonthly Monitor. ManpowerGroup’s independent survey data is also sourced byfinancial analysts and economists around the world to help determine wherelabor markets are headed.

AboutManpowerGroup Greater China

ManpowerGroup Greater China Limited(Stock Code: 2180.HK) started its business in Hong Kong and Taiwan in 1997.Since that time, it has accelerated its market expansion and now providesservices to its clients in over 160 cities in the Greater China markets andoperates in more than 20 offices. ManpowerGroup Inc. (NYSE: MAN), our largestshareholder, is a world leader in workforce solutions and services -- with along operating history of more than 70 years.

Empowered by theworld-wide reputation and global perspectives of ManpowerGroup Inc.,ManpowerGroup Greater China has rooted its operations in local markets acrossGreater China for over 20 years. In 2015, ManpowerGroup Greater China Limitedand CITICPE established a strategic joint venture headquartered in Shanghai, topenetrate and accelerate business in Greater China. Through our service networkof over 160 cities, we offer comprehensive and full range workforce solutionsto more than 20,000 companies in the Greater China Region. On July 10th, 2019,ManpowerGroup Greater China listed on the Hong Kong Stock Exchange.

ManpowerGroup GreaterChina Limited commits to unleashing the power of the human potential forprogress. We are well recognized by clients and associations through ourcontemporary offerings of flexible staffing, head-hunting, recruitment processoutsourcing, talent management and training, and other integrated servicesolutions. As a testament to our commitment, we have received such honorablerecognitions as “Asia-Pacific Human Resources Service Leading Enterprise”.

For more information about the report, please visit: https://www.manpowergrc.com/en/about_research/

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