ManpowerGroup Employment Outlook Survey

Singapore’s Net Employment Outlook stands at +4% -- the weakest since the recession, reveals ManpowerGroup Employment Outlook Survey

Hiring prospects decline in six out of seven sectors when compared with the same period last year

Despite a forecast of modest payroll additions across all industry sectors, job prospects continue to diminish according to the latest ManpowerGroup Employment Outlook Survey (MEOS) released by ManpowerGroup.

The results reveal that of the 632 employers surveyed, only 8% expect to increase headcount, 4% expect a decrease in hiring plans and 60% foresee no change. Once seasonal variations are removed from the data, the Net Employment Outlook stands at +4%, and is the least optimistic forecast reported by Singapore’s employers since 2009.

Overall, hiring intentions have contracted 4 percentage points quarter-over-quarter and 6 percentage points year-over-year.

Staffing levels are forecast to grow in all seven industry sectors during the third quarter of 2017, but the overall hiring pace is expected to slow in comparison to the prior quarter and last year at this time.

Employers from the Mining & Construction sector report the strongest hiring intentions with a Net Employment Outlook of +7%. Some hiring opportunities are also forecast for the Transportation & Utilities sector and the Services sector, with Outlooks of +6% and +5%, respectively. Meanwhile, employers in two sectors report the most cautious Outlooks of +2% – the Manufacturing sector and the Public Administration & Education sector.

When compared with this time one year ago, hiring intentions decline in six of the seven industry sectors. Finance, Insurance & Real Estate sector employers report the most significant decrease of 15 percentage points, while the Outlook for the Public Administration & Education sector declines by 12 percentage points. The Transportation & Utilities sector Outlook nosedives by 7 percentage points, while decreases of 6 percentage points are reported for both the Manufacturing sector and the Services sector. Meanwhile, an improvement of 2 percentage points is reported by Wholesale & Retail Trade sector employers.

Download Report Here  Infographic  Press Release