Hartford Region Leads Connecticut Employers’ Anticipated Growth in the 4th Quarter
CT By The Numbers reports ManpowerGroup Employment Outlook Survey shows the Hartford Metro Statistical Area (MSA) had a +14% positive employment outlook. They found that overall, employers in the U.S. report improved hiring plans for Q4 following the ten year low reported in Q3 according to the data from more than 8,700 U.S. employers.
Nationwide, employers report an employment outlook of +14%, recovering 11 percentage points from Q3, yet down 6 percentage points year-over-year. Businesses now anticipate slower hiring levels than initially expected. In April 60% expected hiring levels to return by January 2021, now down to just 25%, 11% expect hiring to return by July 2021, 5% expect longer and 21% remain uncertain. In addition, 20% of businesses plan to offer more opportunities for employees to develop new skills as the crisis accelerates demand for increasingly specific skills.
For Quarter 4 2020, 97 of the 100 largest MSAs in the United States report positive Net Employment Outlooks, including two in Connecticut – Hartford, and Bridgeport.
“Compared to Q3 2020 when the Net Employment Outlook was -3 percent, Connecticut employers have reported a stronger hiring pace,” said Betty Gooding of Manpower.
The most positive outlooks nationwide for the three months ahead are reported in Leisure and Hospitality (+22%), Transportation and Utilities (+19%), and Wholesale and Retail Trade (+18%) as lockdowns lift, and consumer spending improves.
Hartford-West Hartford-East Hartford, CT
MSA employers plan to hire at an upbeat pace in Q3 2020 with an Employment Outlook of 14%. Among employers surveyed, 16% plan to hire more employees from October through December. This number is offset by the 2% that plan to reduce payrolls while 78% of employers expect to maintain current staff levels and 4% indicate they are not sure of their hiring plans. This yields a Net Employment Outlook (NEO) of 14%.