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The latest release of the ManpowerGroup Employment Outlook Survey reveals that the seasonally adjusted net hiring outlook for the initial quarter of the year in Puerto Rico stands at 12%, indicating a drop of one percentage point compared to the preceding quarter.
Per the survey results, 44% of businesses indicated they have achieved gender parity, while 58% reported progress in closing the wage gap, according to Melissa Rivera Roena, the general manager of ManpowerGroup Puerto Rico.
“Since last year, we have seen a consistent downward trend in hiring, which can be linked to the remarkable peaks of 2023. What we observe now is a state of stabilization,” noted Rivera Roena. “It is vital to emphasize that the majority of employers surveyed do not plan to alter their workforce or increase it during this quarter. Furthermore, there is an increasing awareness concerning gender equity issues.”
Rivera Roena shared that 38% of respondents indicated they do not intend to make any modifications to their workforce, while 35% plan to hire more employees, and 23% are looking to decrease staff. Four percent remain uncertain regarding their projections for January to March of the current year.
The strongest hiring prospects were noted in the San Juan metropolitan area (28%), followed by the southern (18%) and eastern (17%) regions. In comparison, the central region (-22%), the northern (-5%), and the western (-3%) areas exhibited the least optimistic hiring forecasts.
The economic sectors with the most promising hiring projections are information technology (43%), transportation & logistics and automotive (25%), manufacturing (24%), and health sciences (16%). In contrast, the sectors with the least favorable hiring intentions include finance and real estate (12%), consumer goods and services (6%), telecommunications services (-8%), energy (-30%), and other industries (15%).
Regarding company size, both the largest firms (over 5,000 employees) and the smallest ones (fewer than 10 employees) show the most optimistic hiring forecasts. Companies with 50-249 employees express a hiring intention of 20%, those with 10-49 employees at 18%, and those with 250-999 employees at 10%. The firms with the least positive hiring intentions are those employing 1,000-4,999 workers, reporting -24%.
The survey, which was conducted for the first quarter in Puerto Rico, included responses from 500 employers. When compared to the first quarter of 2023, Puerto Rico saw a hiring expectation of -21%.
Alberto Alesi, the general director of ManpowerGroup for Mexico, the Caribbean, and Central America, highlighted that any changes or tweaks in economic and labor public policy within the United States and Puerto Rico could affect employers’ hiring decisions both this quarter and in the upcoming months.
On a global scale, hiring expectations were highest in India (40%), the United States (34%), and Mexico (32%). Countries with the least favorable hiring intentions included Argentina (-1%), Hong Kong (6%), and Israel (8%).
Regarding gender parity, Rivera Roena remarked that when inquired about their advancement, 44% of companies indicated they have fully achieved gender equity, up from 36% the previous year. Furthermore, 33% believe they are very close to attaining it, 13% see it as reasonable but still distant, and 7% feel they are significantly far from this goal.
As per the survey findings, nearly 60% of organizations (58%) believe they are progressing in bridging the wage gap between genders.
