We have a pretty good idea by now of what businesses across the U.S. are planning when it comes to hiring, finances and compensation in 2013 — but what does growth look like for economies around the world?
CareerBuilder’s first-ever annual job forecast of the 10 largest world economies answers this question for us and reveals that while some countries, like Brazil and India, are confident about the year ahead (more than two-thirds of employers in these markets planning to add full-time, permanent headcount in 2013), others, like Italy, appear to be more guarded (more employers expect to decrease staff than those who expect to hire). The survey, conducted by Harris Interactive©, included more than 6,000 hiring managers in countries with the largest gross domestic product.
Current financial standings across the world
BRIC’s ambitious hiring plans for 2013
Emerging economies are the most aggressive in terms of hiring plans for this year, despite a slowing in economic expansion, and Brazil, China, India and Russia are at the top of the list:
- Brazil: Brazil houses the largest percentage of employers adding headcount (71 percent), in part influenced by plans to host the upcoming World Cup and Summer Olympics and in part by a better-performing manufacturing sector.
- China and India: Although impacted by weakened trade and market demand, China’s and India’s GDP have grown at a rate that far outstrips the rest of the world’s major economies. More than half of employers in China and two-thirds in India plan to hire in 2013.
- Russia: Russia has hit record low unemployment and still benefits from metals and energy exports despite a fall off in demand in China and Europe. There is also a more aggressive push for high tech investments. Nearly half of Russian employers plan to add jobs.
Europe cautious amid recession
As European nations continue to battle another recession, many of them have plans to downsize or otherwise cut costs in 2013:
- Italy: 33 percent of Italian employers expect to downsize staffs, the highest of the top 10 economies.
- France: Hiring activity in France is expected to be flat, with nearly one in four employers planning to add or decrease headcount.
- UK.: While 30 percent of U.K. employers plan to hire, 21 percent are anticipating a decline for a net increase of only 9 percent adding jobs.
- Germany: Germany, which has been somewhat insulated from the crisis but not immune, is more optimistic with nearly three in 10 employers planning to hire and 15 percent expecting a decline.
U.S. starting to see daylight
Concerns over the fiscal cliff at the time of the survey may have resulted in more conservative predictions, but hiring activity has been on a gradual upward trajectory. Twenty-six percent of U.S. employers will add new jobs this year.
Japan getting back on its feet
Rounding out the top economies, Japan continues to work to rebuild business investment and consumer spending after a devastating tsunami in 2011. While 22 percent of employers in Japan plan to increase staff, 19 percent expect to downsize.
Regarding the large range of growth prospects and hiring plans in these 10 economies, CareerBuilder CEO Matt Ferguson notes: “The job outlook presents varying degrees of growth and deceleration as governments and businesses strive to rebuild and expand and deal with large deficits. Hiring activity in the BRIC countries (Brazil, Russia, India and China) is projected to be significantly higher than other markets, while recruitment in Europe remains sluggish as leaders struggle to resolve a debt crisis that has global implications.”
Top jobs for the New Year
Across major markets, employers are most likely to hire for positions closely tied to revenue and innovation.
Hiring in the following areas emerged as major areas of hiring across the board:
- Customer service
- Information technology
Get the full CareerBuilder global job forecast, including the top market areas for hiring broken down by individual economies, percentage of employers who plan to hire in each region, and more.