Global Hiring Intentions Hold Steady from Q2, Drop Year-over-Year

Core Insights - Global hiring intentions remain strong for Q3 2024, with a Net Employment Outlook (NEO) of 22%, although this reflects a 6% decline compared to Q3 2023 [17][25][26] - Employers are increasingly cautious due to ongoing economic uncertainties, focusing on hiring for core skills and leveraging AI for efficiency [2][25] Regional Hiring Outlook - North America reports the strongest hiring intentions at 27%, despite an 8% decline year-over-year [19][26] - Asia Pacific follows with a 23% outlook, down 4% from the previous quarter and 8% year-over-year [27] - Europe, the Middle East, and Africa (EMEA) show the lowest hiring outlook at 18%, with a 3% decline compared to last year but a 2% increase from Q2 2024 [28] Sector-Specific Insights - The IT sector leads with a 29% hiring intention, followed closely by Financials & Real Estate and Health Care & Life Sciences at 27% [26] - Employers in Costa Rica (35%), Switzerland (34%), Guatemala (32%), and Mexico (32%) report the strongest hiring plans, while Argentina and Romania show the weakest at 3% [26] AI and Workforce Trends - Nearly half (48%) of companies have adopted AI technologies, marking a 13% increase from the previous year [26] - More than half (55%) of employers expect to increase headcount due to AI and machine learning in the next two years [25][26] - Senior leaders exhibit the highest optimism regarding AI's impact on business performance, while frontline workers show the least [26]