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Singapore’s hiring activity set to be stable in third quarter

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Employers in Singapore plan to increase headcount between July and September this year, according to the latest Manpower Employment Outlook Survey

Polling 690 employers in total, it found 18% of companies forecast an increase in staffing levels, 4% anticipate a decrease and 63% expect no change.

Once the data is adjusted to allow for seasonal variation, the employment outlook stands at +13%.

Opportunities for job seekers are, in fact, expected to remain positive across the region, with the strongest hiring plans reported by employers in Taiwan, and lowest in Australia.

While Singapore’s hiring prospects in the third quarter of this year remain “relatively stable” when compared with the previous quarter, they decline by six percentage points year-over-year.

“Singapore businesses are still guarded amidst a pessimistic economic outlook. Widespread restructuring is still sending shockwaves across the board, with reverberations echoing from the tightening labour market as well,” said Linda Teo, country manager for ManpowerGroup Singapore.

Hiring activity in Singapore to dip in second half of 2015
Singapore bosses “upbeat” about hiring in 2015

“Both large and small firms are approaching the next quarter of 2015 with caution as the economy is offering no reassuring signs.”

The most robust hiring activities were anticipated in the services sector, with a net employment outlook of +24%.

The finance, insurance and real estate sector followed, with an outlook of +22% while the public administration and education industry stood at+14% .

Wholesale trade and retail trade sector employers however, reported uncertain hiring intentions with an outlook of -1%.

“Year-over-year, outlooks weaken in six of the seven industry sectors. Considerable decreases of 15 percentage points are reported in both the mining and construction sector and the transportation and utilities sector, while a decline of 14 percentage points is reported by employers in the wholesale
trade & retail trade sector,” the report stated.

Image: Shutterstock

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