Q2 Employment Outlook

UK Employment Outlook for Q2 2024 The ManpowerGroup Employment Outlook Survey is the longest running, most extensive, forward-looking employment survey in the world, used as a key economic indicator by both the Bank of England and UK Government.UK small businesses are playing offense, showing the biggest appetite for business expansion, and creating new roles. Bigger organisations are taking a more defensive stance by backfilling vacancies and being more cautious about headcount.ManpowerGroup UK is advising employers to place a greater emphasis on skills-based hiring, workplace culture and employee value positions to attract and retain the best talent going into the next quarter.

Changes over time

UK hiring Outlooks have weakened by -4% since the previous quarter but are up +1% when compared to the same period last year.

Hiring expectations for April through June by region The North West has a keen appetite to hire going into Q2 of 2024, with 30% of employers planning to recruit ten or more staff – slightly above the national figure of 29%.London’s labour market remains resilient, with one in five businesses planning to recruit 50 or more staff in the next quarter, driven by Transport, Logistics & Automotive, Finance & Real Estate, IT and Industrials & Materials.Scotland reports a lower hiring intent than the rest of the UK, but encouragingly, a third of all organisations in Scotland report planning to hire for anticipated growth in Q2.

UK Employment Outlooks across key industry sectors

Businesses in the Information Technology (IT) industry reported the strongest Outlook, but declined -1% on Q1 2024 and -16% on Q2 2023.

*Includes: Not for Profit/NGO/Charity/Religious organisation; Other Industry; Other Transport, Logistics and Automobiles Sub-Industry; Educational Institutions; Agriculture and Fishing

Hiring expectations by company size

Small businesses plan to hire the most, with 42% of this number indicating organisational growth as the reason for hiring - more than any other business size.