The Manpower Employment Outlook Survey (MEOS) for the Q4 2014 is based on responses from 2,102 UK employers and asks whether they intend to increase or reduce the size of their workforce in the coming quarter. Our quarterly survey shows that the jobs market might be cooling down, UK employers have reported an employment outlook of +6% for the coming quarter, down from +8% in Q3. Visit our website for the full report http://manpowergroup.co.uk/meos or join the conversation on Twitter #MEOSUK

1. 09 September 2014
Q4 2014 Manpower Employment Outlook Survey

2. Manpower
Manpower Employment Outlook Survey – Q4 2014
Employment Outlook Survey Q4 2014 Summary
• The national Net Employment Outlook (NEO) has dropped two points to +6,
from +8 last quarter
• This is the largest quarterly fall we have seen since late 2011
• Finance and Business Services and Utilities are joint top of the table on +11
• Construction fell a further point to -2 to end the year in negative territory
• Small businesses showed a sharp fall in hiring intentions, from +16 to +8
• Unadjusted data shows hiring intentions in the public sector on -5 (a
significant drop from +8 last quarter). This compares to +7 among employers
in the private sector.

3. MEOS: Since Q1 2008
Outlook has fallen more sharply than at any time over the past three years
Manpower
Manpower Employment Outlook Survey – Q4 2014
National NEO
2008 2009 2010 2011 2012 2013 2 0 14
9
6
5
-1
-3
-6
-5
-1
1 1 1 1
2 2
3
1
0
2 2
3
6 6
5
6
5
7
8
6
10
8
6
4
2
0
-2
-4
-6
-8
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

4. QoQ change
National 4Q '14 3Q '13 -2
Micro
Small
Medium
Manpower
Manpower Employment Outlook Survey – Q4 2014
Size of company breakdown
• Companies of all sizes have positive hiring intentions
• Large and medium businesses remain very positive on +17 and +16
• Small businesses’ hiring intentions fell by eight points
17
17
16
2
8
17
16
8
3
6
Large
+1
-8
-1
n/c

5. Manpower
Manpower Employment Outlook Survey – Q4 2014
Sector breakdown
-1
6
4
6
12
12
5
6
12
8
-2
3
3
4
8
8
9
11
11
6
4Q '14 3Q '14
QoQ change
-2
-1
-1
+3
+3
-4
-2
-1
-3
-1
National
Finance & Business Services
Utilities
Manufacturing
Transport, Storage & Comms
Mining & Quarrying
Wholesale, Retail, etc.
Public & Social
Agriculture, Forestry & Fishing
Construction

6. Manpower
Manpower Employment Outlook Survey – Q4 2014
Public/private sector breakdown*
• Private sector hiring intentions are on +7, two points down on the quarter.
• Public sector intentions dropped sharply to -5 from +8.
• Not-for-profits dipped to +2 from +14.
14
8
9
8
2
-5
7
6
4Q '14
3Q '14
QoQ change
-2
-2
-13
-12
*Data not seasonally adjusted
National
Private
Public
Not for Profit

7. Manpower
Manpower Employment Outlook Survey – Q4 2014
Regions and nations breakdown
16
4
4
-4
9
10
6
7
10
1
8
12
12
9
8
-4
1
2
3
4
6
7
9
10
12
6
4Q '14
3Q '14
QoQ change
National
West Midlands
East Midlands
Yorkshire & Humberside
London
South East
North West
North East
East
Scotland
Northern Ireland
Wales
South West
-2
+3
n/c
+2
+8
-3
-1
-2
-6
-6
+6
-3
-20

8. Manpower
Manpower Employment Outlook Survey – Q4 2014
UK employment intentions
+3
+4
+2
+6
+8
+1
+12
+12
-4 +7
+4
+9
+13