Morning rush on the Subte could get a little more crowded given growing optimism and labor demand.
More signs of local and regional optimism on the front page of La Nacion yesterday. A new Manpower Argentina hiring study finds 17% of Argentine companies plan to hire additional employees between now and the end of the year.
The headline, Employment Recovers, Trend Expected to Continue through 2011, was almost as welcome as the recap of yesterday’s albiceleste drubbing of Spain. In addition, a labor demand analysis by the UniversidadTorcuato Di Tella (UTDT) supports the Manpower findings.
After analyzing the job classifieds published by La Nacion and Clarin in August, UTDT found the number of Help Wanted ads rose 2.6% compared to July and 16% compared to July 2009. “The growing demand will translate into more employment in the coming months,” said UTDT’s MartÃn Gonzalez Rozada adding, “We anticipate a jobs recovery across all sectors of employment.”
The local optimism is part of a larger regional trend, as key South American economies continue growing despite the global slowdown. The Manpower study found even greater corporate confidence across the border in Brazil where 37% of companies plan to boost hiring in the final trimester of 2010, 24% in Peru and 17% in Colombia.
At the lower end of the optimism scale were the United States with a modest 4% and Spain with -4%. (Something amusing about Spain and the number “-4″ yesterday.) Looking at Argentina labor demand by sector, the strongest demand lies in construction and mining, services and transportation, while looking at demand by region, 20% of job creation will take place in Capital Federal and Greater Buenos Aires. (Full Story in Spanish)
