The labor market for executives remains at good levels. It is still holding up, despite tight supplies, and increasingly fragile growth.
But the trend could reverse. According to the latest barometer from the Association for Executive Employment (Apec), some companies are losing confidence and there is a slight drop in hiring intentions.
About 10% of companies plan to hire at least one manager in the third quarter, down three points from the previous quarter. A slight slowdown began in March, underlines Apec, in a context of uncertainty linked to the war in Ukraine.
A strong job market
Furthermore, 67% of companies remain confident in their third quarter order book, but this confidence drops 7 points. This concern is even more pronounced in small businesses: 51% of VSEs say they have “difficulty” predicting their activity.
However, despite all these uncertainties, the labor market remains strong. Although there are fewer companies considering hiring executives, in general, the volume of vacancies is still very high. Compared to its level before the health crisis, there are almost 20% more offers today than in the second quarter of 2019.
Industry is the sector that has registered the most increase with +32% of vacancies compared to last year, and more than 5,000 vacancies.
Strong recruitment difficulties
But for the companies that are hiring, the hiring difficulties are being felt. They even reach record levels. In the 2nd quarter, 82% of the companies declared having had difficulties in this area, that is, 13 points more than in the first quarter.
This tension should not subside, 84% of companies foresee these same difficulties for the third quarter, a level never before reached. This is 30 points more than in September 2020. Apec warns: this situation represents a real threat to the economic development of companies, Apec is concerned.
Source: BFM TV
