SINGAPORE, (11 June 2013) – According to the latest Manpower Employment Outlook Survey results released today by Manpower Singapore, some job gains are anticipated in quarter 3 2013, with Singaporean employers reporting a seasonally adjusted Net Employment Outlook of +14%, although hiring intentions weaken by 2 and 8 percentage points from 2Q 2013 and 3Q 2012, respectively.
“With a strong construction projection for 2013, driven by more public housing and infrastructure construction works, the employment picture is rosy for the Mining and Construction sector where the seasonally adjusted outlook stands at 17%. Even though hiring prospects weaken moderately in comparison to last quarter and year by 2 and 8 percentage points, respectively, Singapore’s labour market is generally stable,” said Linda Teo, Country Manager of Manpower Singapore.
Singaporean employers report steady hiring plans for the July-September period. With 20% of employers expecting to increase staffing levels, 5% anticipating a decrease and 63% forecasting no change. “Currently, the Singapore government is rolling out a Productivity Drive at a national level to increase efficiency and production levels within organizations to qualitatively upgrade its economy and move to a new phase of development. As the company copes with the changes, we hear that managing costs and competing for skilled manpower is a daunting task. We work closely with organizations to find talents, and we find that hiring managers are looking for talents who are able to multi-task and wear more than one hat,” said Ms. Linda Teo, Country Manager of Manpower Singapore.
Employers forecast an increase in payrolls in all seven industry sectors during quarter 3 2013. Hiring prospects are likely to be strongest in the Mining & Construction sector, with a Net Employment Outlook of +17%, and in the Public Administration & Education sector, where the Outlook is +16%. Employers also expect a steady hiring pace in both the Finance, Insurance & Real Estate sector and the Wholesale Trade & Retail Trade sector, with Outlooks of +14%, and in the Transportation & Utilities sector, with an Outlook of +11%.
When compared with the previous quarter, employers report Outlook declines in four of the seven industry sectors. The Services sector Outlook decreases by a steep margin of 30 percentage points, while employers in the Public Administration & Education sector report a 20 percentage point decline. Elsewhere, Outlooks weaken by 6 and 3 percentage points in the Finance, Insurance & Real Estate sector and the Manufacturing sector, respectively. However, hiring prospects are stronger in three sectors, with the most noteworthy improvement of 9 percentage points in the Mining & Construction sector. Outlooks improve by 6 and 4 percentage points in the Transportation & Utilities sector and the Wholesale Trade & Retail Trade sector, respectively.
Hiring Prospects mixed across the Asia Pacific region
Hiring plans are stronger from three months ago in most of the Asia Pacific region’s surveyed countries and territories, but decline in six of the eight countries and territories in a year-over-year comparison. Notably, employers in two of the region’s largest economies—China and India—continue to scale back their hiring plans. The downturn is most pronounced in India; despite a stronger forecast than 34 of the 42 participating countries and territories, India’s Net Employment Outlook drops to its weakest level since the survey began in 3Q 2005.
The next Manpower Employment Outlook Survey will be released on 10 September 2013 to report hiring expectations for the fourth quarter of 2013. 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.
Note to Editors
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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 10th September 2013 to report hiring expectations for the forth quarter of 2013. 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.