​Manpower Employment Outlook Survey indicates steady hiring for Q4 2015

SINGAPORE, (8 September 2015) – Job seekers in Singapore can expect a favorable level of opportunities in the October-December period as Singapore employers report steady hiring prospects for 4Q 2015. 

Of the 665 employers surveyed, 16% forecast an increase in staffing levels, 3% anticipate a decrease, and 69% expect no change. Once the data is adjusted to allow for seasonal variation, the Net Employment Outlook stands at +12%. However, while the forecast remains relatively stable when compared with the previous quarter, it declines by 4 percentage points year-on-year. 

Ms Linda Teo, country manager of ManpowerGroup Singapore says: “The year-on-year Outlook decline, from +16% to +12%, indicates that while employers expect the hiring pace to remain positive, uncertainties such as weak global demand for exports and China’s sluggish economy, have dampened real hiring intentions in our trade-dependent economy.” 

The seven industries covered in the survey are: Finance, Insurance & Real Estate; Manufacturing; Mining & Construction; Public Administration & Education; Services; Transportation & Utilities; and Wholesale & Retail Trades. Domestic hiring sentiments by sectors 

*Net Employment Outlook 

Employers in all seven industry sectors anticipate an increase in staffing levels during the OctoberDecember period. The strongest labor markets are expected in both the Finance, Insurance & Real Estate sector and the Public Administration & Education sector, with Outlooks of +18%. 

Respectable job gains are also forecast by employers in the Transportation & Utilities sector and the Services sector, who report Outlooks of +16% and +14%, respectively, while the Mining & Construction sector Outlook is +12%. Meanwhile, Wholesale Trade & Retail Trade sector employers report the weakest sector Outlook for the second consecutive quarter, standing at +4%. Despite the cautious Outlook for the wholesale and retail trade sectors, some additional hiring is still expected. 

Says Ms Teo: “The year end is traditionally a busy period for retailers who have to cope with more demand from shoppers. So, more hiring of contingent workers in particular can be expected.” 

*Quarter-on-quarter sector comparisons 

When compared with the previous quarter, Outlooks improve in four of the seven industry sectors, most notably by 5 percentage points in both the Transportation & Utilities sector and the Wholesale Trade & Retail Trade sector. Quarter-on-quarter, hiring prospects weaken in three sectors, including a considerable decrease of 10 percentage points reported in the Services sector. 

*Year-on-year sector comparisons

Hiring prospects weaken in six of the seven industry sectors when compared with 4Q of 2014. Considerable declines of 14 and 12 percentage points are reported in the Services sector and the Finance, Insurance & Real Estate sector, respectively, while Mining & Construction sector employers report a decrease by 5 percentage points. Elsewhere, the Outlook for the Manufacturing sector is 5 percentage points stronger. 

*Asia Pacific hiring outlook 

More than 15,200 employers were interviewed in the Asia Pacific region. The strongest hiring plans in the region are reported by employers in India, Taiwan and Japan. Employers in India report bullish hiring intentions for the coming quarter, with a seasonally adjusted Outlook of +41% – the strongest in the Asia Pacific region. 

The weakest hiring climate is forecast in China. Based on seasonally adjusted figures, Chinese employers anticipate modest growth in staffing levels during the coming quarter, reporting an Outlook of +5%. However, the Outlook is the weakest reported by Chinese employers since 3Q 2009.

Note to Editors

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.