UK EN Q1 2023 MEOS Report

MEOS | 2023 Q1

UK Employers to Keep Hiring in Q1 Despite Economic Uncertainty

Organisations in the IT industry report the most optimistic Outlook (+34%); followed by Industrials & Materials (+25%), and Transport, Logistics &...

Executive Summary

Used internationally as a bellwether of economic and labour market trends, the Net Employment Outlook – calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire – now stands at +19%, down (-5%) from Q4 and (-15%) than this time last year.

Organisations in the IT industry report the most optimistic Outlook (+34%); followed by Industrials & Materials (+25%), and Transport, Logistics & Automotive (+24%).

The brightest hiring intentions for next quarter are in the North East (+27%), the East (+26%) and Wales (+25%), with the weakest Outlook in the East Midlands (+6%) and Yorkshire & Humberside (+4%).

Large organisations (250+ employees) are the most likely to hire (+25%) compared to micro employers (less than 10) with an Outlook of +9%.