The multinational specialist in human capital, ManpowerGroup Chile, today presents the results of its Employment Expectations Survey for the third quarter of 2024. In Chile, the Net Employment Index (NEO) stands at a modest 7%, reflecting a cautious among the country’s employers.
The NEO is calculated by subtracting the percentage of employers planning to reduce their workforce from the percentage of those planning to increase their workforce. This indicator is a global barometer of labor market trends.
From July to September 2024, 35% of employers in Chile expect to increase their workforce, while 28% anticipate cuts. The remaining 35% do not foresee changes, and 2% are uncertain. ANDThis 7% of NEO places Chile among the countries with the lowest hiring expectations in the region and globally.
Jorge Gamero, General Manager of ManpowerGroup Chile, comments that “the analyzes of our Hiring Expectations Index for the third quarter of 2024 show a slight slowdown in the hiring intentions of employers in Chile. This can be attributed to several economic, financial and business factors. However, it is important to consider that the third quarter of each year is usually a slower period in terms of hiring due to the winter season and the after-effect of the high season, marked by events such as Mother’s Day (considered a second Christmas at a commercial level), Cyber Day and Father’s Day. “Many organizations are planning their hiring before this quarter, while monitoring the evolution of the general situation both in the country and globally.”
Gamero adds: “It is important to highlight that, although employers are being more cautious when hiring personnel, the index remains positive, prioritizing the increase in their workforce for the following months.”
Among the sectors that show the greatest optimism in Chile, Transportation, Logistics and Automotive stand out, followed by Energy and Public Services, and Information Technologies. These sectors are driving demand for personnel, in contrast to other sectors such as Industry and Materials, and Finance and Real Estate, which present more moderate prospects.
At the regional level, hiring expectations in Latin America present significant variability. Costa Rica, Guatemala and Mexico lead hiring intentions, while Chile is located at a medium-low point with an NEO of 7%. Globally, the average NEO is 22%, unchanged from the previous quarter, but down 6% compared to the same period last year.
A relevant piece of information from the survey is that more than half (55%) of global employers expect artificial intelligence and machine learning to increase their workforce in the next two years, while almost one in four believe they will not. there will be significant impact.
The ManpowerGroup Employment Outlook Survey is the most comprehensive and forward-looking survey of its kind, used internationally as a key indicator of labor market trends. For the third quarter 2024 report, 40,374 employers from 42 countries and territories were interviewed between January 2 and 31, 2024. Responses are collected through digital interviews, allowing for detailed analysis by sectors and regions.
The survey uses a single question: “How do you expect total employment in your locality to change in the three months to the end of September 2024 compared to the current quarter?” This standardized methodology ensures that the results are internationally comparable.
