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Hong Kong employers report positive hiring intentions for the first quarter of 2018 according to ManpowerGroup’s employment outlook survey (MEOS) released on Tuesday.
Taking seasonal variations into account, Hong Kong’s net employment outlook stands at +16%. Hiring prospects remain relatively stable when compared with the previous quarter, and improve by 3% in comparison with the first quarter of 2017.
19% of the 770 employers surveyed forecast an increase in staffing levels in the first quarter of 2018, while 3% predicted a decrease. 78% of overall employers surveyed anticipated no employment changes for the period January to March 2018.
Workforce gains are anticipated in all six industry sectors during 2018 the first quarter of 2018, with the services sector employers reporting the strongest net employment outlook of +22%. Finance, insurance and real estate sector employers expect an upbeat hiring pace, reporting an outlook of +20%, and the outlook for the mining and construction sector stands at +17%.
Year-over-year, employers in five of the six industry sectors report stronger hiring intentions. Finance, insurance and real estate sectors reported a 5% year on year increase and the outlook for the wholesale and retail trade sector looks to improve by 4%.
Reporting a net employment outlook of +22%, employers in the services sector anticipate solid workforce gains during the first quarter of 2018. The outlook remains relatively stable quarter-over-quarter and is 2% stronger year-on-year.
“Employers in the Services sector may be responding to the expected surge in demand for IT specialists, especially those dealing with cyber operation systems and cybersecurity,” said Lancy Chui, senior vice president at ManpowerGroup Greater China region. “With Hong Kong being the second most targeted place in Asia for cyber attacks during the past three years, we are seeing an uptick in awareness in cybersecurity issue among various corporations. As such, concerns over cybersecurity are likely boosting hiring activities in the services sector.”
Hong Kong is one of 43 countries and territories that take part in the ManpowerGroup employment outlook survey. In the Asia Pacific region, the most optimistic hiring activity is expected in Taiwan, while those in China and Singapore report the weakest.
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