Manpower Employment Outlook Survey Indicates Upbeat Hiring Plans for First Quarter of 2015

SINGAPORE, (9^th Dec, 2014) – According to the latest Manpower Employment Outlook Survey, Singaporean employers report upbeat hiring intentions for the January-March time frame. Of the 650 employers interviewed across seven industry sectors in Singapore, 19% of employers forecasting an increase in staffing levels, 3% anticipating a decrease and 78% expecting no change. Once the data is adjusted to allow for seasonal variation, the Outlook stands at a promising +18%. Hiring prospects edged up 2 percentage points when compared with the previous quarter. Year-over-year, employers report no change.

In the first quarter of 2015, employers in all seven industry sectors expect to grow payrolls. The strongest labor market is forecast for the Services sector, where employers report robust hiring prospects with a Net Employment Outlook of +25%. Job seekers can expect an upbeat hiring pace in the Transportation & Utilities sector, where the Outlook is +20%, and in the Public Administration & Education sector, with an Outlook of +19%. Steady hiring activity is also anticipated in the Wholesale Trade & Retail Trade sector and the Finance, Insurance & Real Estate sector, with Outlooks of +18% and +16%, respectively.

“Employers’ hiring confidence is very encouraging in the midst of a potential slowdown in the region’s economy. Asia is facing various risks with a sharper than envisaged slowdown and financial sector vulnerabilities in China, less effective Abenomics as well as political tensions and uncertainty. The confidence is reflective of the tight labour market Singapore is experiencing as well as cyclical conditions,” said Ms Linda Teo, Country Manager of ManpowerGroup Singapore.

Quarter-over-quarter, employers in four of the seven industry sectors report weaker hiring prospects. The most noteworthy decline of 14 percentage points is reported in the Finance, Insurance & Real Estate sector, while the Mining & Construction sector Outlook is 5 percentage points weaker. Meanwhile, hiring plans improve in three sectors. The Wholesale Trade & Retail Trade sector Outlook is 15 percentage points stronger while Manufacturing sector employers report an improvement of 10 percentage points.

“Employers in industries such as Service, which are highly reliant on human capital, are expressing confidence moving into the new year. This confidence, coupled with the positive outlook on consumer spending has spurred the improvement in the hiring outlook,” said Ms Teo.

When compared with 1Q 2014, hiring intentions improve in four of the seven industry sectors, most notably by 5 and 4 percentage points in the Services sector and the Public Administration & Education sector, respectively. However, Outlooks weaken in three sectors, including the Finance, Insurance & Real Estate sector and the Mining & Construction sector, where employers report considerable declines of 9 percentage points.

Buoyant hiring prospects across the region

Hiring confidence for the January-March time frame is once again strongest in India, Taiwan and New Zealand. Outlooks remain positive in all eight Asia Pacific countries and territories. First-quarter forecasts are stronger in five countries and territories in comparison to Quarter 4 2014, weaken in only one and are unchanged in two. Employer hiring confidence strengthens year-over-year in six countries and territories, declines in one and is unchanged in one. Employers in India report the strongest hiring plans as well as the most optimistic across the globe, while the weakest forecast is reported by Australian employers. 

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