Hiring intentions have plateaued as employers hold off on growth plans. Photo / Martin Sykes
Hiring intentions as measured by Manpower's quarterly employment outlook survey have plateaued as employers hold off on growth plans.
The national survey of 640 employers shows hiring intentions for the three months to December have stalled due to new waves of financial uncertainty circling worldwide.
Employers planning to increase or
decrease headcount have remained the same at 22 per cent and 7 per cent respectively between July and September, while the seasonally adjusted net employment outlook decreased to +16 per cent from +17 per cent.
Manpower New Zealand general manager Chris Riley said employers were playing the waiting game.
"We're hearing varying reports on the state of the world business climate, with some predicting a global 'double dip' recession and others holding out hope for continued recovery. These sorts of conditions can make employers more cautious."
He said there was often a slight drop off in hiring leading up to Christmas, but it appeared to be minimal this year.
"This is a good sign and points to some resilience in the jobs market."
The manufacturing sector had the biggest decline in hiring pace, with seasonally adjusted net employment outlook down to +12 per cent, compared to +22 per cent in the last quarter.
Finance, insurance and real estate was up to +25 per cent from +20 per cent, and transport and utilities was up to +25 per cent from +11 per cent.
"The employment market is always going to be varied across industry sectors and we're now seeing evidence of a two-speed labour market, with some industries returning to pre-recession levels faster than others," Riley said.
"However, in reaching those levels, many industries are experiencing some turbulence as employers try to gauge the recovery. Sectors like finance, insurance and real estate and the services sector generally have seen high fluctuations in hiring expectations over the past year."
Mining and construction seasonally adjusted outlook was +17 per cent, public administration was +8 per cent, and wholesale and retail trade was +15.
- NZPA
