A challenging employment outlook persists into the first three months of 2017 (Q1) as Singapore's net employment outlook stands at a modest +9%, after the data is adjusted for seasonal variation.
Of the 620 employers surveyed in the latest ManpowerGroup Employment Outlook Survey, 15% expect to increase staffing levels while 7% anticipate a decrease, and 71% foresee no change.
Linda Teo, country manager of ManpowerGroup Singapore, commented that while hiring prospects remain relatively stable, there is a growing mismatch between jobs and skills, expected to worsen if not addressed by workers and employers.
She added: "Lower skilled workers and PMETs with out-of-date skills will face the brunt of the recession - if it happens. With the slowing economy, unemployment figures for these groups of workers are likely to rise as employers put into action cost-saving measures."
Domestic hiring sentiment by sector
Employers in six of the seven industry sectors surveyed expect to grow staffing levels during the first three months of 2017 [figure below]. The finance, insurance and real estate sector reports the strongest hiring sentiment with an outlook of +19%.
Employers in the transportation and utilities sector forecast steady hiring activity with an outlook of +11% while employers in the manufacturing sector disclose an outlook of +9%.
Elsewhere, employers in the public administration and education sector, and the services sector report outlooks of +8%. However, a decline in payroll for the wholesale trade and retail sector is foreseen as the outlook stands at -2%.
Lead photo / 123RF Infographics / ManpowerGroup Singapore
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