Job seekers in Singapore can expect the strongest hiring intentions in six years during the coming quarter, according to employers. Workforce gains are anticipated in all seven industry sectors.
For the third consecutive quarter, Taiwan’s employers anticipate the strongest labour market of all the 43 countries and territories surveyed in the ManpowerGroup Employment Outlook Survey for Q2 2021.
Reporting their strongest hiring sentiment in three years, they forecast solid workforce gains during the next three months, including in the Finance, Insurance & Real Estate, Manufacturing and Wholesale & Retail Trade sectors.
More than 10,700 employers across the region were interviewed on their hiring plans for the upcoming quarter.
The strongest hiring pace in more than nine years is anticipated in Australia, with payroll gains expected in all seven industry sectors and all eight regions. Hiring confidence is particularly optimistic in the Finance, Insurance & Real Estate sector where the outlook is the strongest in more than nine years, while Manufacturing sector employers expect the strongest labour market in 10 years.
Job seekers in Singapore can expect the strongest hiring intentions in six years during the coming quarter, according to employers. Workforce gains are anticipated in all seven industry sectors, as the national forecast continues to improve for the third consecutive quarter.
Out of 570 employers surveyed in Singapore, 20% expect to increase payrolls, 3% anticipate a decrease and 74% forecast no change. The resulting Net Employment Outlook is +17% after seasonal adjustments, improving by 2 percentage points from the prior quarter and 8 percentage points when compared with this time one year ago.
This is the strongest outlook reported for Singapore in six years, following last quarter’s outlook of +15%. While employer confidence is growing, majority of employers (49%) believe a realistic return to pre-pandemic hiring levels will come by the end of 2021.
“Employers are cautiously optimistic on the business outlook as the number of new coronavirus cases is under control and the COVID-19 vaccination strategy is on track. Companies across sectors are anticipated to hire, with most of the job opportunities expected to involve a tech-element as companies continue their digital transformation,” says Linda Teo, Country Manager, ManpowerGroup Singapore.
“Despite the ongoing momentum, the return to pre-pandemic hiring levels will be gradual. As companies continue digitalising their operations, new jobs will be created while some other roles will be transformed or phased out.”
Little noteworthy change is reported in the region’s largest labour market, China’s six industry sectors and nine regions in comparison with the previous quarter, with the exception of the Mining & Construction sector, where hiring plans are the strongest in two years.
In India, hiring sentiment continues to recover slowly from the impact of the COVID-19 pandemic, improving when compared with the prior quarter. However, hiring prospects remain weaker when compared with this time one year ago, including in the Wholesale & Retail Trade and Finance, Insurance & Real Estate sectors.
Japanese employers report subdued hiring prospects for the second quarter of 2021 with the weakest – and first negative - outlook in 11 years. Employers in the Manufacturing and Wholesale & Retail Trade sectors expect to trim payrolls, while hiring prospects in the Services and Mining & Construction sectors are the weakest in 10 years.
Hong Kong employers also report subdued hiring sentiment for a fifth consecutive quarter. Downbeat hiring plans for the next three months are driven in part by the weakest Services sector forecast since the survey began in 2003, while Wholesale & Retail Trade sector employers report their weakest Outlook in 12 years.
Photo / Provided by ManpowerGroup