ECONOMY

Labor market prospects looking up

Sentiment in the labor market is continuing to improve as employers are optimistic that hirings will increase and income losses will be reduced within 2015, according to a survey conducted by Manpower and published on Tuesday.

Expectations for the second quarter of the year show the most optimistic forecast by employers in the last six years (since the last quarter of 2008). Forecasts show that 21 percent of employers anticipate an increase in employees, 7 percent expect a reduction and 70 percent foresee no change. Hiring prospects are improved by 3 percent points from the previous quarter and by 6 percentage points from the second quarter of 2014.

The survey took place during a period of significant political and social developments on a national and European level, but this does not seem to have affected the respondents’ optimistic forecasts. The majority of the 753 employers who participated in the survey expect an increase in employees across all nine economic sectors during the second quarter of the year, with the best chances of growth being in the domains of transport and tourism (24 percent and 20 percent respectively).