Manpower Employment Outlook Survey:Q2 2014

SINGAPORE, (5 March 2014) – According to the latest Manpower Employment Outlook Survey results released today by Manpower Singapore, employers in Singapore report upbeat hiring prospects in Quarter 2 2014 with a seasonally adjusted net Employment Outlook of +17%. The Outlook declines by 2 percentage points quarter-over-quarter but hiring intentions remain relatively stable year-over-year.

Payrolls are expected to increase in all seven industry sectors during the coming quarter. “Singapore’s labor market outlook in 2014 remains positive, thanks to the recovery of business confidence expected in the US, Europe and China. This will positively impact the business outlook in Singapore, reflected by the job gains in all seven industry sectors. The talent shortage is likely to intensify as tighter foreign worker policies are implemented. With our experience, we have been working closely with organizations to identify transferable skills across industries to create access to a wider pool of talent. Organizations are also taking a close look at the matured workforce as part of their workforce strategy.” said Ms. Linda Teo, Country Manager of Manpower Singapore.

Of the 700 Singaporean employers who participated in the survey, 23 percent expect staffing levels to increase, 5 percent anticipate a decrease and 66 percent forecast no change.

The strongest labor market is forecast in the Transportation & Utilities sector, where the Net Employment Outlook stands at +35%. A healthy hiring pace is expected by Finance, Insurance & Real Estate sector employers who report an Outlook of +24%. The hiring pace is expected to be similarly active in the Mining & Construction sector, the Public Administration & Education sector and the Services sector where employers in each report Net Employment Outlooks of +21%.

When compared with the previous quarter, hiring plans improve in three of the seven industry sectors. The most noteworthy increase of 10 percentage points is reported by employers in the Transportation & Utilities sector while an increase of 3 percentage points is reported by Mining & Construction sector employers. Meanwhile, hiring prospects weaken in two sectors, most notably by 6 percentage points in the Manufacturing sector. “The expected weakness in the Manufacturing sector is not surprising especially following the fall in biomedical manufacturing output.” said Ms. Linda Teo, Country Manager of Manpower Singapore.

Hiring intentions strengthen in four of the seven industry sectors when compared with 2Q 2013. Transportation & Utilities sector employers report a sharp increase of 32 percentage points. The Mining & Construction sector Outlook is 12 percentage points stronger while employers in the Wholesale & Retail Trade sector report a 7 percentage point improvement. However, hiring intentions weaken in three sectors, most notably by 18 percentage points in the Public Administration & Education sector. The Outlook for the Services sector declines by 9 percentage points and employers report a 4 percentage point decrease in the Manufacturing sector.

Hiring Prospects mixed across the region

Elsewhere in the Asia Pacific region, staffing levels are forecast to grow in all eight Asia Pacific countries and territories during the next three months. Stronger Net Employment Outlooks are reported in five countries and territories when compared with the previous quarter, with employers reporting weaker hiring prospects in two. When compared with 2Q 2013, hiring plans improve in seven countries and territories, and decline only in China. The strongest labor market is expected in India, while for the eighth consecutive quarter employers in Australia report the region’s weakest hiring prospects.

The next Manpower Employment Outlook Survey will be released on 10 June 2014 to report hiring expectations for the third quarter of 2014.  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.

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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.