Singapore Employers Expect Steady 3Q Hiring Pace : Manpower Employment Outlook Survey

SINGAPORE, 10 June 2015 – According to the latest Manpower Employment Outlook Survey results released today by ManpowerGroup Singapore, Singapore employers report positive hiring prospects for Quarter 3 2015. 18% of the surveyed 690 employers forecast an increase in staffing levels, 4% anticipate a decrease and 63% expect no change.

Once the data is adjusted to allow for seasonal variation, the Outlook stands at +13%. Hiring prospects remain relatively stable when compared with the previous quarter but decline by 6 percentage points year-over-year.

“Singapore businesses are still guarded amidst a pessimistic economic outlook. Widespread restructuring is still sending shockwaves across the board, with reverberations echoing from the tightening labour market as well. Both large and small firms are approaching the next quarter of 2015 with caution as the economy is offering no reassuring signs,” said Ms Linda Teo, Country Manager for ManpowerGroup Singapore.

Staffing levels are expected to grow in six of the seven industry sectors during the next three months. The strongest hiring pace is forecast for the Services sector where the Net Employment Outlook stands at +24%. Finance, Insurance & Real Estate sector employers report an Outlook of +22% while the Public Administration & Education sector Outlook is +14%. Elsewhere, Manufacturing sector employers anticipate steady hiring activity with an Outlook of +11% and the Transportation & Utilities sector Outlook stands at +10%. However, Wholesale Trade & Retail Trade sector employers report uncertain hiring intentions with an Outlook of -1%.

When compared with 2Q 2015, hiring prospects improve in three of the seven industry sectors, most notably by 5 and 3 percentage points in the Services sector and the Manufacturing sector, respectively. However, hiring plans weaken in three sectors. A considerable decline of 15 percentage points is reported in the Wholesale Trade & Retail Trade sector, while Outlooks are 6 and 5 percentage points weaker in the Mining & Construction sector and the Transportation & Utilities sector, respectively.

Year-over-year, Outlooks weaken in six of the seven industry sectors. Considerable decreases of 15 percentage points are reported in both the Mining & Construction sector and the Transportation & Utilities sector, while a decline of 14 percentage points is reported by employers in the Wholesale Trade & Retail Trade sector. However, hiring prospects improve in the Services sector with the Outlook increasing by 8 percentage points.

“Singapore’s economy is heavily dependent on foreign trade. Oil exports have tumbled and non-oil domestic exports have risen only slightly, dampening the hiring mood for the Trade sector,” commented Ms Teo.

“On the Services front, the number of jobs in the Services sector continues to burgeon as employers struggle to find workers to fill vacancies. With increased reigning in on foreign worker employment, Services will continue to be adversely affected,” she continued.

Upbeat hiring prospects across region

Opportunities for job seekers are expected to remain positive across the region, with the strongest hiring plans again reported by employers in the booming economies of India and Taiwan. Payrolls are expected to increase in all eight Asia Pacific countries and territories during 3Q 2015. Net Employment Outlooks improve in two countries and territories when compared with the previous quarter, but employers report weaker hiring plans in six. Year-over-year, hiring plans strengthen in three countries and territories but weaken in four. The most optimistic hiring prospects are reported in Taiwan, while the weakest Outlook is reported in Australia.

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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.

About ManpowerGroup™

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 2015, ManpowerGroup was named one of the World’s Most Ethical Companies for the fifth 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 8th September 2015 to report hiring expectations for the fourth quarter of 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.