A moderate pace of hiring is expected in Singapore during 2Q 2017.
ManpowerGroup surveyed 700 managers to find that 13 percent noted a rise in their staffing levels during the second quarter, with 5 percent expecting a decline and the remaining 81 percent anticipating no change.
Singapore’s “net employment outlook,” or percentage of employers expecting to increase their recruiting minus the percent noting a drop in employment, is at +8 percent for 2Q 2017.
This is after adjusting for seasonal factors and indicates that second-quarter hiring intentions will keep fairly stable quarter-over-quarter. However, when contrasted with hiring from a year ago, the net employment outlook shows a 2-percent dip.
According to ManpowerGroup’s Linda Teo:
“Hiring sentiment is moderate, as the market remains clouded in uncertainty with the election of Mr. Trump as U.S. president and the U.S.’s withdrawal from the Trans-Pacific Partnership…In general, companies will definitely still need to hire but many of them lack the budget for permanent headcounts and are thus using agency contracting as a workaround.”
The research shows a mixed report from industry to industry. The following sectors indicate weaker hiring compared to the previous quarter:
- Real estate
On the other hand, these sectors have indicated an intention to increase their staff:
- Public administration
The public administration and education sectors boast the most aggressive net employment outlook of +17 percent. Real estate, finance and insurance follow with a +16 percent outlook.
The only sector anticipating a negative net outlook is wholesale trade and retail (-1 percent). After the busy seasons of Christmas and Chinese New Year, demand is down for employees in this sector.
Over the Asia-Pacific region as a whole, quarter-over-quarter growth shows a falling net employment outlook in three markets, neutral growth in four and improvement in the last market.
Taiwan’s jobs forecast is the most upbeat for the second quarter in a row, both within the region and globally. China’s prospects remain the weakest, with four straight quarters of decline.