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Hong Kong employers to have a net employment outlook +16% in the second quarter of 2018 according to Manpower Group’s quarterly employment outlook survey (MEOS). Up two percentage points year on year but remains unchanged compared to the first quarter of 2018.
The survey spoke to a representative sample of 662 employers in Hong Kong. All survey participants were asked, “How do you anticipate total employment at your location to change in the three months to the end of June 2018 as compared to the current quarter?” 21% of employers forecast an increase in staffing levels, 5% anticipate a decrease and 72% expecting no change, says the report.
When analysing hiring intentions across industries the finance, insurance and real estate sector and the services sector, are two of the strongest labour markets where employers report net employment outlooks of +24% and +23%, respectively. Both sectors reporting a three percent increase in hiring outlook when compared with the previous sector. Hiring prospects improve by 8 percentage points in the finance, insurance and real estate sector when compared with this time one year ago.
Across business sizes
The report spoke to micro businesses (less than 10 employers), small businesses (10 -49 employees), medium businesses (50 – 249 employees) and large businesses with more than 250 employees. Employers across all size companies expect staff to grow in the next quarter. Large companies report a net employment outlook of +30% and 7% increase in hiring intentions when compared with the previous quarter. Medium-sized employers report an outlook of +23% and a 3% increase in hiring intentions compared with first-quarter results. Small and micro-size employers indicated hiring outlooks of +9% and +7%, respectively.
Staffing levels are expected to grow in all eight Asia Pacific countries and territories surveyed for the April-June period, i.e. Australia, China, Hong Kong, India, Japan, New Zealand, Singapore, and Taiwan.
The strongest regional labour market in the upcoming quarter is forecast by Taiwanese employers, followed by Japan. For the third consecutive quarter, the most cautious outlook is reported in China.
Photos / ManpowerGroup
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