Although Argentina had already had a post-pandemic employment reboundthat effect seemed to be fading before here than in the rest of the region. But a new study by the Human Resources consultancy, ManpowerGroup, shows that the rebound effect should not be considered dead, since although the hiring expectations are still low compared to the region, grew five points since the last evaluation.
The Net Employment Expectations or ENE is a measure that this talent multinational obtains by subtracting the percentage of companies that will hire staff in a certain quarter, the percentage of those that plan to reduce the payroll. In this case, for the second quarter of 2023 an increase of 16 points is expected in these projections, five more than in the first quarter and four points above the previous year.
“Despite the fact that the second quarter of the year will continue to be marked by an adverse macroeconomic context, as well as by the uncertainties of an election year, a slight rebound in contracting expectations is expected, driven mainly by the Communication Services sector, and Energy and Public Services“reflected Luis Guastini, General Director of ManpowerGroup Argentina.
“In electoral years there is greater caution on the part of the business community, related to how the economy is going to behave. In this sense, the results of the survey indicate that, in the short term, businessmen they are not waiting for movements in microeconomics that affect their economic activity, but rather the opposite: they need more staff to cover the demand they have,” Guastini told iProfessional.
Hiring expectations, second quarter
The work was carried out during January in 41 countries. Globally, the average hiring expectations for the April-June period is 23 points. In all countries there are positive intentions to continue generating employment.
Evolution of employment expectations in Argentina (Source: ManpowerGroup)
In Argentina, the results reveal that the 37% of surveyed employers They plan to increase their endowments of personnel, 19% plan to reduce them next quarter, 39% do not expect to make changes and the remaining 5% do not know. These data, seasonally adjusted, show a ONE the 16% for the analyzed period.
The sector of Communication services leads the most solid intentions in the sample, with an ENE of 36%, followed by Energy and Public Services (27%) and Transport, Logistics and Automotive (21%).
“The results of the Communication Services sector may be influenced by progress in the approval of frequency bands for the deployment of systems 5G and companies are preparing for the spectrum auction that will take place between March and April of this year”, analyzed Guastini.
Regarding the Energy and Public Services sector, he considered that the result is mainly pulled by gas pipelines and millionaire investment to facilitate the export of gas from Vaca Muerta to Brazil and Chile“which brings with it new opportunities for professional development in the region.”
Employment expectations in the different sectors of the economy (Source: ManpowerGroup)
Likewise, in 6 of the nine sectors analyzed, projections to increase personnel grew year by year: in Energy and Public Services 27 points, in Consumer Goods and Services, as the most outstanding.
The same occurs when analyzing by region: except for the NOA, which has zero expectations, all regions are upespecially Patagonia (32%), the Pampean region (22%) and the AMBA (20%).
Employment Outlook by Region (Source: ManpowerGroup)
Likewise, the potential generation of employment is quite evenly distributed according to the size of the company. Both those with more than 250 employees, and those with between 10 and 49, have 20% ENE; while microenterprises with less than a dozen employees showed 17% and medium-sized ones 12%.
Argentina aligns worldwide
Finally, in the regional comparison for the next quarter it is denoted that, although the ENE in Argentina showed an important rise of 5 points, it still has a long way to go to match the rebound in employment in the region: Brazil this quarter exhibits an ENE of 21 points, Peru one of 23 and Mexico of 29.
Second Quarter 2023 Employment Outlook (Source: ManpowerGroup)
Furthermore, the countries that lead the expectations in this survey are the Caribbean: Panama (41), Costa Rica (38) and Guatemala (38).
The results for Argentina are closer to some powers such as Spain (10), Japan (10) or Taiwan (9).
