Manpower Employment Outlook Survey: Q1 2013

SINGAPORE, (11 December 2013) – According to the latest Manpower Employment Outlook Survey results released today by Manpower Singapore, the pace of hiring prospects in Quarter 1 in 2013 has slowed down slightly, with a Net Employment Outlook of +10%.

“With the uncertainty in the global economic climate, employers may be more cautious in their expansion plans. Hiring prospects has weakened slightly with quarter-over-quarter change of -9%. Our data reveals quite a large number of employers — 83 percent who intend to make no changes to their workforces over the next three months. Clearly, more employers than usual are taking a cautious approach to evaluate global market conditions before taking the next step,” said Linda Teo, Country Manager of Manpower Singapore. 

Singaporean employers report some opportunities to grow payrolls in Quarter 1 2013. While 13% of employers expect to increase staffing levels, 3% anticipate a decrease and 83% forecast no change, resulting in a Net Employment Outlook of +10%. Once the data is adjusted to allow for seasonal variation, employers report respectable hiring intentions with an Outlook of +11%, although hiring prospects are weaker than at any point since Quarter 3 2009. The Outlook declines by 8 percentage points quarter-over-quarter and by 5 percentage points year-over-year.

Employers in all seven industry sectors expect to increase staffing levels in Quarter 1 2013. The most optimistic hiring intentions are reported in the Finance, Insurance & Real Estate sector, where the Net Employment Outlook stands at +22%. Positive outlooks are also forecast in both the Mining & Construction sector and the Public Administration & Education sector, with Outlooks of +21%. Positive hiring climates are expected in the Transportation & Utilities sector and the Manufacturing sector, with Outlooks of +15% and +13%, respectively, as well as the  Wholesale Trade & Retail Trade sector, where the Outlook is +12%.

“The world of work is changing rapidly and the old rules of doing business are losing their relevance. We enter the Human Age where people are the real agents of business success. For organization to remain competitive and gain an added advantage in the business world, employers recognize the importance of having the right talent in their organization,” said Ms. Linda Teo, Country Manager of Manpower Singapore

Employers in all seven industry sectors expect to increase staffing levels in Quarter 1 2013. The most optimistic hiring intentions are reported in the Finance, Insurance & Real Estate sector, where the Net Employment Outlook stands at +22%. Active labour markets are also forecast in both the Mining & Construction sector and the Public Administration & Education sector, with Outlooks of +21%. Positive hiring climates are expected in the Transportation & Utilities sector and the Manufacturing sector, with Outlooks of +15% and +13%, respectively, as well as the  Wholesale Trade & Retail Trade sector, where the Outlook is +12%.

Quarter-over-quarter, hiring prospects weaken in four of the seven industry sectors, most notably by 10 percentage points in the Public Administration & Education sector. An Outlook decline of 7 percentage points is reported in the Services sector and the Wholesale Trade & Retail Trade sector Outlook decreases by 3 percentage points. Meanwhile, hiring plans improve in three sectors, including the Transportation & Utilities sector, with a 5 percentage point increase, and the Mining & Construction sector where the Outlook is 4 percentage points stronger.

Hiring Prospects weaken across the region

Across the Asia Pacific region, hiring plans in most of the markets reveal declining Net Employment Outlooks in six of eight countries and territories. Indian and Taiwan employers report the strongest plans across Asia Pacific, while Australia and Japan employers report the region’s weakest job prospects quarter over quarter.

The next Manpower Employment Outlook Survey will be released on 13 March 2013 to report hiring expectations for the second 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

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.