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Manpower Employment Outlook Survey 2Q 2008 / Page 1 Manpower Xenofontos 9 105 57 ΑTHENS T: 210 32.24.301 Φ: 210 32.48.621 www.manpower.com Contact: Metaxia Kladis / The PR Team 210 610 67 67 – 6932 36 33 30 email@example.com Lilian Glarou / The PR Team 210 610 67 67 / 6936 17 76 79 firstname.lastname@example.org UNDER EMBARGO UNTIL 0:01 11 MAR 2008 Greece Joins Manpower Employment Outlook Survey Greek Employers Forecast Strong Job Demand for Quarter 2, 2008 Greece posts Net Employment Outlook of +23% Finance, Insurance, Real Estate & Business Services employers report strongest hiring intentions Athens, 11 March 2008. The Manpower Employment Outlook Survey launched today in Greece revealed that employment prospects are positive for the April – June quarter of 2008. The survey based upon interviews on a representative sample of 762 employers across Greece reveals positive hiring intentions across all nine industry sectors surveyed. The data reveals solid hiring projections with an overall Net Employment Outlook of +23%. Net Employment Outlook is derived by taking the percentage of employers anticipating total employment to increase, and subtracting from this the percentage expecting to see a decrease in employment at their location in the next quarter. Of the Greek employers interviewed, 27% said they expect to hire more people during the second quarter of 2008, 4% of the employers expect to reduce their workforce, 58% anticipate no change, while 11% are uncertain about their April – June hiring plans. On the announcement of the survey results, Dr. Venetia Koussia, Managing Director of Manpower Greece stated: “We are very proud that our country is from today on part of the Manpower Employment Outlook Survey, which is truly unique and unparalleled in its focus and has been the most trusted forward-looking employment survey globally for more than 45 years.” Dr Koussia further added: “We are confident that this initiative will be welcomed in the local market, as it addresses the need of this country‟s business stakeholders for reliable, forward-looking data on both the national and Manpower Employment Outlook Survey 2Q 2008 / Page 2 international labor markets. The Manpower Employment Outlook Survey in Greece will be an ongoing quarterly activity, with the aim of being a reliable source on forecasting employment trends in the Greek labor market.” Commenting on the notable per cent of employers who reported that there will be no change in the number of people they employ, Dr Koussia stated: “Greek employers choose a „wait and see‟ approach, which is definitely a positive stance, as it leads to better utilization of existing staff.” Industry sectors covered by the Manpower survey are Agriculture; Hunting, Forestry & Fishing; Construction; Electricity, Gas and Water Supply; Finance, Insurance, Real Estate & Business Services; Manufacturing; Public & Social; Restaurants & Hotels; Transport, Storage & Communication; and Wholesale & Retail Trade. Employers in the Finance, Insurance, Real Estate & Business Services sector report the strongest hiring intentions of this quarter with a Net Employment Outlook of +33%, 10 percentage points stronger than the national Net Employment Outlook. On the other hand, employers in the Agriculture sector reported the weakest hiring intentions of a still respectable +13%. “Job seekers should find the strongest employment prospects in the Finance, Insurance, Real Estate & Business Services sector, as the employers interviewed expressed their solid intentions to add talented staff to their workforce,” commented Dr Koussia. In order to present regional comparisons, Greece was divided in two geographic regions: Greater Attica and North Greece. Employers in both regions revealed solid hiring expectations for the second quarter of the year. Employers in the Greater Attica region are slightly more optimistic, reporting healthy hiring expectations and an Net Employment Outlook of +23%, compared to the Outlook of +22%, recorded by employers in North Greece. International comparisons Hiring activity is expected to be positive in all countries surveyed, but the majority of employers in Europe and the Americas are less optimistic about adding employees in the quarter ahead in comparison to Quarter 2 2007. Employers in Singapore, India, Romania, Peru, Costa Rica, Argentina, Poland, Hong Kong, Greece and S. Africa are reporting the most optimistic second quarter hiring plans globally. Conversely, employers in Spain and Italy report the weakest job prospects for the quarter ahead. Employers in 16 countries and territories are reporting less optimistic hiring intentions compared to three months ago; seven are reporting improved Outlooks; and four indicate there will be no change in their workforces. When compared to Quarter 2 2007 the picture is similar: Outlooks are softer in 17 countries and territories; seven report improved hiring plans; and three indicate staffing needs will not change. Manpower Employment Outlook Survey 2Q 2008 / Page 3 The next Manpower Employment Outlook Survey will be released on the 10th of June 2008 to report hiring expectations for the third quarter of 2008. The Manpower Employment Outlook Survey is available free of charge to the public through Manpower Greece. To receive e-mail notification when the survey is available each quarter, interested individuals are invited to complete an online subscription form at http://investor.manpower.com/investors/alerts.cfm. ### Note to Editors Full survey results for each of the 32 countries and territories included in this quarter‟s survey, plus regional and global comparisons, can be found in the Manpower Press Room at www.manpower.com/meos. In addition, all tables and graphs from the full report are available to be downloaded for use in publication or broadcast from the Manpower Web site at http://www.manpower.com/library. Note that in Quarter 2 of 2008, the survey adopted the TRAMO-SEATS model for seasonal adjustment of data. As a result, you may notice some seasonally adjusted data points change slightly from previous reports. This model is recommended by the Eurostat department of the European Union and the European Central Bank and is widely used internationally. About the Survey The Manpower Employment Outlook Survey is conducted quarterly to measure employers‟ intentions to increase or decrease the number of employees in their workforce during the next quarter. It is the most extensive forward-looking survey of its kind, unparalleled in its size, scope, longevity and area of focus. The Survey has been running for more than 45 years and is one of the most trusted surveys of employment activity in the world. The Manpower Employment Outlook Survey is based on interviews with more than 55,000 public and private employers worldwide and is considered a highly respected economic indicator. The Manpower Employment Outlook Survey is currently available for 32 countries and territories: Argentina, Australia, Austria, Belgium, Canada, China, Costa Rica, Czech Republic, France, Germany, Greece, Guatemala, Hong Kong, India, Ireland, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Peru, Poland, Romania, Singapore, Spain, South Africa, Sweden, Switzerland, Taiwan, the United Kingdom and the United States. The program began in the United States and Canada in 1962, and the United Kingdom was added in 1966. Mexico and Ireland launched the survey in 2002, and 13 additional countries were added to the program in 2003. New Zealand joined the program in 2004, China, India, Switzerland and Taiwan were added in 2005, and Argentina, Peru, Costa Rica and South Africa joined in 2006. The Czech Republic, Greece, Guatemala, Poland and Romania joined in 2008. For more information, visit the Manpower Inc. Web site at www.manpower.com and enter the Research Center. About Manpower Inc. Manpower Inc. (NYSE: MAN) is a world leader in the employment services industry; creating and delivering services that enable its clients to win in the changing world of work. Celebrating its 60th anniversary in 2008, the $21 billion company offers employers a range of services for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; outplacement; outsourcing and consulting. Manpower's worldwide network of 4,500 offices in 80 countries and territories enables the company to meet the needs of its 400,000 clients per year, including small and medium size enterprises in all industry sectors, as well as the world's largest multinational corporations. The focus of Manpower's work is on raising productivity through improved quality, efficiency and cost-reduction across their total workforce, enabling clients to concentrate on their core business activities. Manpower Inc. operates under five brands: Manpower, Manpower Professional, Elan, Jefferson Wells and Right Management. More information on Manpower Inc. is available at www.manpower.com.
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