EMPLOYMENT HIRING JOB PROSPECTS
Singapore - According the latest Manpower Employment Outlook survey, most employers will remain conservative on their hiring plans in the coming year.
The survey was conducted with 626 employers who were surveyed on their opinion on how total employment at their locations would fare in the coming three months in comparison to the current quarter.
Less than one-fifth of employers predict an increase in staffing levels, with a 70% majority declaring they expect no changes.
This is weakest result Singapore has recorded in over 2 years.
Weak hiring prospects have been attributed to the current economic downturn. The overall net employment outlook - the percentage of employers who will hire minus those who will not - is at a dismal 16%.
The findings reflect a decline of 15% from the previous year.
However, although employers have put the brake on hiring, steady payroll gains can be expected in the first three months of 2012.
Despite the fall in recruitment plans, employers in all seven industry sectors continue to forecast employment gains in the first three months of 2012.
The most robust hiring prospects have been reported in the public administration and education sector and the finance, insurance and real estate sector, with net employment outlooks of +26% and +25%, respectively.
Meanwhile, the wholesale, retail and trade sector registered the largest decline by 20%. This is followed closely by the mining and construction sector, which recorded a decreased by 15%.
The Manpower Group has also indicated employers throughout Asia Pacific have continued to report positive hiring expectations, with India recording the strongest hiring pace out of all countries.
Apart from Singapore, Taiwan and New Zealand have also reflected solid job prospects.
Hiring intentions among Japanese employers are the least robust in the region, despite slight improvements over the last twelve months.
The anticipated slowdown in hiring is mostly attributed to employers' worries of talent mismatches which remain largely detrimental to job opportunities.
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