Contrary to the Government’s expectations, a private study analyzing 42 countries stated that Argentina has the weakest employment expectations in the world for the remainder of 2024.
TO contrary to what the Government expects, There would be no recovery in hiring expectations by companies. Net Employment Expectation (NEE) for the last quarter of 2024 increased by 4%, representing a decrease of 1 percentage point in the quarterly comparison. This is the lowest forecast globally.
The data belongs to Manpower Group and reveals that 33% of employers surveyed plan to increase their staffing levels, 31% will reduce them, 32% do not expect to make changes and the remaining 4% do not know if they will make them.
“The recovery in hiring expectations remains a challenge in Argentina, which is once again ranked last in the region. While some sectors, such as Energy and Utilities, are more optimistic, other industries continue to face difficulties in increasing their payrolls,” he said. Luis GuastiniCEO and President of ManpowerGroup Argentina and Director of Talent Solutions for Latin America.
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Stagnation in employment expectations at regional level
The survey also reveals that There is a stagnation in the intentions of companies to incorporate staff. Argentina’s net employment expectation is the lowest in the world. In perspective, the global average is 25% and the country where the indicator grew the most is India with 37%, followed by Costa Rica (+36%), the USA (+34%) and Brazil (+32%). Meanwhile, Chile, Hong Kong and Israel precede Argentina among the countries with the lowest expectations, with 8%.
In which sectors could employment be incorporated?
The Energy and Public Services sector leads the sample’s intentions, with an ENE of +19%, followed by Finance and Real Estate (+11%) and Industries and Materials (+11%). The region with the strongest hiring expectations is Northeast Argentina with an ENE of +11%, while the Cuyo region reports the weakest intentions, with an ENE of -5%.
Fieldwork was conducted between July 1 and 31, month in which the International Monetary Fund (IMF) warned that the Argentine economy will fall more this year than expected.
On an interannual basis, expectations are increasing in four of the nine economic activities. The most significant increase is observed in Finance and Real Estate with 19 percentage points.
In the breakdown by region, in only two of the six surveyed, employers expect to increase their payrolls during the last quarter of 2024. The Northeast of Argentina (NEA) leads this trend, with an ENE of +11%, followed by the AMBA with +5%; while the Cuyo and Patagonia regions show the weakest hiring expectations, registering an ENE of -5% and -3% respectively.
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Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
