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Patagonia lowers its expectations of hiring people to work

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Patagonia lowers its expectations of hiring people to work

ManpowerGroup presented the results of the Employment Outlook Survey corresponding to the third quarter of 2023, which reveal that 28% of surveyed employers plan to increase their staffing, 25% decrease them, 40% do not expect to make changes and the remaining 7% do not know if they will make them during the period surveyed .

The value of the ENE is obtained by taking the percentage of employers that expect to increase their workforce and subtracting the percentage of those that project a decrease during the next quarter.

“We note that, for the third quarter of the year, the Argentine business community responded with greater caution than in previous quarters. We attribute this mainly to the macroeconomic context that the country went through during the survey period, with high inflation rates and exchange rate instability”, reflects Luis Guastini, General Director of ManpowerGroup Argentina.

And adds: “There are sectors like Industries and Materials; Transport, Logistics and Automotive; and Consumer Goods and Services, which, although they remain cautious, are more optimistic than the rest”.

Industry Comparisons


In seven of the nine economic activities surveyed, employers expect to increase their payrolls during the third quarter of 2023.
The Industries and Materials sector leads this trend, with an ENE of +13%, followed by Transport, Logistics and Automotive with +9% and Consumer Goods and Services with +8%. While those who report the weakest hiring expectations are Finance and Real Estate with an ENE of -9%, followed by Information Technology that reflects an ENE of -5%.

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Compared to the second quarter of 2023, hiring expectations weaken in eight of the nine industrial sectors surveyed. The greatest decrease is reported by the Communication Services sector, revealing a decrease of 33 percentage points. Then there is Energy and Public Services, which marks a drop of 27 points, followed by Finance and Real Estate, which reveals a decrease of 25 points. On the contrary, the Industries and Materials sector remains the same as in the last quarter surveyed.

With respect to the same period of the previous year, hiring intentions weaken in eight of the nine industrial sectors. Finance and Real Estate shows the greatest variation, with a drop of 41 percentage points, followed by Information Technology, with a decline of 23 points, and Communication Services, with 22 points.

regional comparisons

In four of the six regions of the country surveyed, employers expect to increase their payrolls during the third quarter of 2023. The NOA leads this trend, with an ENE of +15%, followed by the Argentine Northeast (NEA), with an ENE of +9 %, while Patagonia shows the weakest hiring expectations, revealing an ENE of -5%.

Compared to the period surveyed previously, the Survey results indicate that hiring intentions are increasing in two of the six regions. The NOA leads this trend with an increase of 15 percentage points, followed by the NEA, with an improvement of 2 points. While Patagonia and the Pampean region show a decrease of 36 and 23 percentage points respectively.

In the year-on-year comparison, expectations decrease in five of the six regions. The greatest decline is found in the Cuyo region with 29 percentage points, followed by Patagonia with 19 points. On the contrary, the only increase observed in hiring intentions corresponds to the NEA with 6 percentage points.

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