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Singaporeans can expect positive recruitment levels in the first quarter of 2014.
According to the latest findings from Manpower group’s Employment Outlook Survey, a positive hiring pace is anticipated in 2014’s first quarter with Singapore employers reporting a seasonally adjusted net employment outlook of 19%.
“Hiring intentions remain relatively stable quarter over quarter and improve by 7 percentage points year-over-year,” the report stated.
Finance and insurance and real estate sectors were also found to have the most optimistic outlook, reporting a recruitment outlook of 24%.
The transportation and utilities sector rounded off the sectors with the highest employment outlook, at 23%.
“We believe employment towards the banking sector will rise due to business expansion of banks and financial institutions,” said Linda Teo, country manager of Manpower Singapore. “Hiring plans improve considerably year over year. This can be due to a positive business outlook and better than expected business growth.
“However, as employers grow more confident, persistent talent shortages will become more evident, and employers must be prepared to rethink their workforce strategies to ensure they continue to have access to the talent that can help their businesses grow,” she added.
Regionally, job prospects remain positive, with Taiwan showcasing the most optimistic hiring prospects amongst the 42 countries surveyed (coming in at 42%).