Employers' Employment Expectations Announced... Recruitment Decreased by 10 Points

Although the global economy is on a soft landing with temporary signs of recovery as consumption, trade and inflation are expected to normalize this year, resilient inflation is slowing the pace of central banks lowering interest rates. In addition, the tense geopolitical situation with ongoing conflicts in Ukraine and the Middle East also creates uncertainty. The fact that elections will be held in some important countries this year causes employers to prepare themselves for a potentially volatile quarter.

The cautious atmosphere caused by the uncertainty and the stagnation of the labor market bring about a slowdown in recruitment. This resulted in two consecutive quarters of decline in the global employment outlook, with the seasonally adjusted Net Employment Outlook (NEO) falling from 26 to 22 points.

North America (31) maintains the highest employment outlook, followed by Asia Pacific (27). India (36) and the USA (34) stand out with the strongest hiring prospects. In Asia Pacific (27), China (32) faces challenges such as continued slow growth, deflationary pressures, high debt levels and the ongoing downturn in the real estate market. India (36) is shining as a regional star, continuing its strong growth and high investment levels.

IT WAS IN THE SECOND HALF OF Türkiye'S LIST

According to the survey, a positive employment climate is predicted in Turkey in the coming quarter, with a Net Employment Outlook (NEO) of 14 percentage points. However, hiring expectations are down 3 points from last quarter and 2023 points since Q2 10. This was the lowest outlook recorded in Turkey in more than two years. Currently, Turkey is in the second half of the list in terms of employment outlook and is 8 points below the global NEO average.

STRONGEST AND WEAKEST SECTORS

Turkey's most competitive sector is Information Technologies, with an employment outlook of 39%, and expectations increased by 3 points compared to the last quarter and by 18 points compared to a year ago. In fact, Turkey ranked eighth globally with its expectations in the Information Technologies sector, 5 points above the global average of the sector. NEO scores of the sectors are as follows:

• Information Technologies (39)
• Finance and Real Estate (26)
• Industrial Products and Materials (11)
• Consumer Goods and Services (9)
• Transportation & Logistics & Automotive (6)
• Communication Services (6)
• Health and Life Sciences (4)
• Energy and Utilities (-1)
• Other (15)

STRONGEST AND WEAKEST REGIONS
The most competitive region in Turkey was the Aegean Region with 2024 NEOs, which remained stable since the first quarter of 2023 and increased by 4 points since the second quarter of 18. Expectations in this region were at their highest level in the last 9 years. NEO scores of regions:

• Black Sea (13)
• Mediterranean (10)
• Marmara (15)
• Central Anatolia (16)
• Aegean (18)
• Southeastern Anatolia (13)
• Eastern Anatolia (-3)