SINGAPORE, (10 Dec 2013) – According to the
latest Manpower Employment Outlook Survey results released today, a positive
hiring pace is anticipated in 1Q 2014 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.
Employers expect to grow staffing levels in all seven industry sectors during the next three months. As in the previous quarter, the most optimistic sector Outlook is reported by Finance, Insurance & Real Estate sector employers (+24%). “We believe employment towards the banking sector will rise due to business expansion of banks and financial institutions,” said Ms. Linda Teo, Country Manager of Manpower Singapore.
Solid payroll gains are likely in 1Q 2014 in the Transportation & Utilities sector where the Outlook stands at +23%. Active labor markets are also anticipated by employers in both Public Administration & Education sector and the Services sector, where Outlooks stand at +21%. “A strong upbeat hiring pace is expected in the coming quarter for the Services sector as with past trends. 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 business grow,” said Ms. Linda Teo, Country Manager of Manpower Singapore.
For the Wholesale & Retail Trade sector, employers report the most optimistic hiring prospects since 4Q 2011 with an Outlook of +18%. Manufacturing sector employers report the least optimistic of the seven sector Outlooks, but the sector’s first-quarter forecast of +13% indicates hiring is expected to continue at a steady pace for the next three months.
When compared with the previous quarter, employers report declining hiring prospects in four of the seven industry sectors. The most noteworthy decreases of 14 and 12 percentage points are reported in the Public Administration & Education sector and the Finance, Insurance & Real Estate sector, respectively. Elsewhere, employers report improved hiring plans in three sectors. The Transportation & Utilities sector Outlook is 13 percentage points stronger while improvements of 4 percentage points are reported in both the Services sector and the Wholesale Trade & Retail Trade sector.
Hiring intentions improve in five of the seven industry sectors year-over-year. Transportation & Utilities sector employers report a considerable Outlook improvement of 14 percentage points while an 11 percentage point increase is reported in the Services sector. Outlooks improve by 7 and 3 percentage points in the Wholesale Trade & Retail Trade sector and Finance, Insurance & Real Estate sector, respectively. Meanwhile, hiring plans weaken in two sectors, most notably by 5 percentage points in the Public Administration & Education sector.
Hiring Prospects mixed across the Asia Pacific region
Job prospects remain positive across the region, with employers in Taiwan, India and New Zealand reporting the strongest hiring plans. Outlooks improve in four of the eight countries and territories in a quarter-over-quarter comparison, and in six of eight when compared year-over year.
The Taiwanese Outlook is the most optimistic among the 42 countries and territories surveyed this quarter, and so far employer confidence in this export-driven economy appears unaffected by market uncertainty elsewhere. More than one in three employers plan to add to their payrolls in the next three months, with employers in the Transportation & Utilities and the Wholesale & Retail Trade sectors reporting their most optimistic hiring plans since the survey began in Taiwan in Q2 2005.
The next Manpower Employment Outlook Survey will be released on 11 March 2014 to report hiring expectations for the second quarter of 2014. The Manpower Employment Outlook Survey is available free of charge to the public through their local Manpower representative in participating countries. To receive e-mail notification when the survey is available each quarter, interested individuals are invited to complete an online subscription form at: http://investor.manpower.com/investors/alerts.cfm.
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Note to Editors
Commentary is based on seasonally adjusted data where available. Full survey results and all charts and tables for each of the 42 countries and territories included in this quarter’s survey, plus regional and global comparisons, can be found in the ManpowerGroup Press Room at www.manpowergroup.com/meos. In addition, all tables and graphs from the full report are available to be downloaded for use in publication or broadcast from the ManpowerGroup Web site.
About ManpowerGroup Singapore
Established in 1996 in Singapore, ManpowerGroup works with a range of manufacturing, resources, mining, transport and logistics, government, blue chip investment and retail banks, IT vendors and outsourcers, telecoms service providers and infrastructure, utilities and engineering services companies. In Singapore, the ManpowerGroup suite of solutions is offered through ManpowerGroup™ Solutions, Manpower®, Experis™, and Right Management®. More information on ManpowerGroup Singapore is available at www.manpower.com.sg.
ManpowerGroup™ (NYSE: MAN) has been the world’s workforce expert, creating innovative workforce solutions, for more than 65 years. As workforce experts, we connect more than 600,000 men and women to meaningful work across a wide range of skills and industries every day. Through our ManpowerGroup family of brands — Manpower®, Experis™, Right Management ® and ManpowerGroup™ Solutions— we help more than 400,000 clients in 80 countries and territories address their critical talent needs, providing comprehensive solutions to resource, manage and develop talent. In 2014, ManpowerGroup was named one of the World’s Most Ethical Companies for the fourth consecutive year and one of Fortune’s Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup makes powering the world of work humanly possible: www.manpowergroup.com.
Note to Editors
The next Manpower Employment Outlook Survey will be released on <insert date, eg 3rd September 2014> to report hiring expectations for the <insert quarter eg first, second, third, fourth> quarter of <Insert year, eg 2015>. The Manpower Employment Outlook Survey is available free of charge to the public through their local Manpower representative in participating countries. To receive e-mail notification when the survey is available each quarter, interested individuals are invited to complete an online subscription form at http://investor.manpower.com/alerts.cfm.