SHANGHAI 12th March 2024 - ManpowerGroup Greater China has launched the Q2 2024Employment Outlook Survey (hereinafter referred to as "MEOS") toforecast companies’ hiring intentions during the period from April to June 2024.

Stable EmploymentOutlook in Mainland China for Q2 2024

In Q2 2024, Chinese organizations anticipate a strong staffing climatewith a Net Employment Outlook (NEO) of 32 percentage points. Although theexpectations worsen by 1 point compared to last quarter, they strengthen by 3points since Q2 2023. Mainland China ranks third globally for its employmentoutlook, 10 points above the global average. Shanghai and NortheasternProvinces recorded the highest NEO at +45%, followed by Guangzhou at +40%.

Q2 2024Employment Outlook of 12 Regions and Cities

Net Employment Outlook (seasonally adjusted %)

ManpowerGroup expressed that thegovernment’s implementation of multiple policies at the onset of the new year,coupled with the revival of domestic consumption and the surge in overseasdemand, have collectively propelled the economy towards a path of consistentgrowth and sustained a comparatively stable employment landscape.

Energy & Utilities Industry: Brightest Outlook forHiring

The most competitive sector is Energy &Utilities with an employment outlook of 37%, even though expectations inthe sector decreased by 2 points since last quarter and 1 point since thisquarter last year, followed closely by the Consumer Goods and Services industry(+36%).

Q2 2024 Employment Outlook of 9 Sectors

Net EmploymentOutlook (seasonally adjusted %)

ManpowerGroup stated that China experienced a remarkable upswing inenergy investment in 2023, with the new energy investment surpassing ayear-on-year growth rate of 34%. This underscores China’s pivotal role in theglobal clean energy domain, consequently propelling employment opportunitieswithin the industry.

5000+ Employees with the Most Positive RecruitmentExpectations

Chinese employers in large enterprises with5000+ employees are the most optimistic with a NEO of +45%, as expectationsrose by 1 point since the previous quarter and 11 points since this quarterlast year.

Q2 2024 Employment Outlook forOrganizations of Six Sizes

Net EmploymentOutlook (seasonally adjusted %)

ManpowerGroup conveyed that there hasbeen a proactive surge in innovation research and development investment, aswell as a deepening of intelligent transformation and digitalization, amonglarge-scale enterprises in recent years. Concurrently, the implementation ofoverseas strategies has proven to be instrumental. Collectively, these measureshave effectively catalyzed the expansion of employment demand.

Gender Equity Progress for Over Half ofRoles

More than half (56%) of Chineseemployers say they are on track to reach their gender equity targets. Top-levelmanagement and STEM (Science, Technology, Engineering and Mathematics) rolesare the most likely to lag in the number of women candidates — presenting thegreatest opportunity for employers to make a significant impact on theirworkforce.

The Proportion of Employers MakingProgress in Increasing the Number of Women Employees in Various Positions.

When it comes to retaining and securingdiverse talent, creating an inclusive organizational culture and flexibleworking policies have proven to be the most effective approach, with 43% ofChinese companies saying that flexible working has helped them to retain talentand expand their candidate pool to be more diverse.

Most Effective Measures for Retaining and Securing Diverse Talent

Employers in all 40 countries and regionsexpect to increase headcount

ManpowerGroupconducted a comprehensive survey on hiring intentions in 42 countries and regions.After seasonal adjustment, the NEO for the Asia Pacific region has maintainedrelative stability at +27%. Similarly, the Americas also continues todemonstrate positive employment prospects, with North America reporting a NEOof +31% and Central and South America at +19%. However, Europe, the MiddleEast, and Africa remain the lowest among the global regions, with a NEO of +15%.

Q2 2024 Employment Outlook for 41Countries and Territories

Net EmploymentOutlook (seasonally adjusted %)

To view complete results for theManpowerGroup Employment Outlook Survey, please visit //4547tiyu.com/MEOS/. With MEOS beginning in 1962, thisyear’s results mark the 61st consecutive year of the survey.

NOTES TO READERS

The methodologyused to collect the data for the Employment Outlook has been digitized from theQ1 2022 report. Respondents in prior quarters were contacted via telephone anddata is now being collected online. Respondents are members of double opt-inonline panels and are incentivized to complete the survey. In line withstandard findings of online surveys, more people are now taking a position –selecting that their workforce will either increase or decrease vs. no change.Because the Net Employment Outlook is based only on the people saying increaseor decrease, the result of this higher level of engagement means themethodology shift may contribute to a higher Outlook. With a sample of 1,000 there is a margin of error of +/-3%. The question asked and the respondentprofile remains unchanged. The size of the organization and sector arestandardized across all countries to allow international comparisons.

ABOUT THE SURVEY

The surveydata was collected in January 2024.TheEmployment Outlook Survey is the most comprehensive, forward-looking employmentsurvey of its kind, used globally as a key economic indicator. The NetEmployment Outlook is derived by taking the percentage of employersanticipating an increase in hiring activity and subtracting from this thepercentage of employers expecting a decrease in hiring activity.

ABOUT MANPOWERGROUP GREATER CHINA

ManpowerGroupGreater China Limited (Stock Code: 2180.HK) started its business in Hong Kongand Taiwan in 1997. Since that time, it has accelerated its market expansionand now provides services to its clients in over 270 cities in the GreaterChina markets and operates in more than 20 offices. ManpowerGroup Inc. (NYSE:MAN), our largest shareholder, is a world leader in workforce solutions andservices-- with a long operating history of more than 75 years.

Empowered by the world-wide reputation and global perspectives ofManpowerGroup Inc., ManpowerGroup Greater China has rooted its operations inlocal markets across Greater China for over 20 years. In 2015, ManpowerGroupGreater China Limited and CITICPE established a strategic joint ventureheadquartered in Shanghai, to penetrate and accelerate business in GreaterChina. Through our service network of over 240 cities, we offer comprehensiveand full range workforce solutions to more than 20,000 companies in the GreaterChina Region.