Singapore Employers Expect Steady 4Q Hiring Pace: Manpower Employment Outlook Survey

SINGAPORE, 10 September 2014 – According to the latest Manpower Employment Outlook Survey results released today by ManpowerGroup Singapore, Singapore employers report favourable hiring intentions for Quarter 4 2014. 19% of the surveyed 663 employers forecast an increase in staffing levels, 2% anticipate a decrease and 73% expect no change.

Once the data is adjusted to allow for seasonal variation, the Outlook stands at +16%. Hiring prospects weaken by 3 percentage points when compared with the previous quarter and decline by 4 percentage points year-over-year.

“Although confidence in the US economy has improved steadily and China’s economy has stabilized, employers remain generally cautious in their hiring activities especially since the outlook for the eurozone remains mixed,” said Ms Linda Teo, Country Manager for ManpowerGroup Singapore. 
Employers anticipate an increase in staffing levels in all seven industry sectors during the coming quarter. The most optimistic hiring plans are reported in the Finance, Insurance & Real Estate sector with a robust Net Employment Outlook of +31%. Strong job gains are also reported in the Services sector and the Public Administration and Education sector, with Outlooks of +25% and +22%, respectively. 

When compared with the previous quarter, Outlooks decline in four of the seven industry sectors, most notably by 11 percentage points in the Manufacturing sector. The Wholesale Trade & Retail Trade sector Outlook is 9 percentage pointers weaker and declines of 7 and 5 percentage points are reported in the Transportation & Utilities sector and the Mining & Construction sector, respectively.  However, hiring prospects strengthen in three sectors, including an increase of 9 percentage points reported by Services sector employers and an 8 percentage point improvement in the Finance, Insurance & Real Estate sector.

“The dip in demand for local exports coupled with the restructuring of the manufacturing industry is has affected the employment outlook in the manufacturing sector. Meanwhile, the manpower crunch is also being felt in the Wholesale and Retail sectors. These sectors are traditionally reliant on foreign labour, and thus are feeling the heat of the stricter restrictions,” said Ms Teo. 

Positive 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 India, Taiwan and New Zealand. Outlooks are relatively stable in six countries and territories quarter-over-quarter and dip slightly in two, but improve in six countries and territories when compared year-on-year. The forecast is not as bright in China where employers report the weakest hiring plans in over five years, as well as the weakest job prospects in the Asia-Pacific region.