ManpowerGroup Employment Outlook Survey

Singapore’s Fourth-Quarter Net Employment Outlook jumps to +11%,the strongest in 2 years, reveals ManpowerGroup Employment Outlook Survey

Employers from six of the seven industry sectors anticipate increase in staffing levels

Things are looking up for job seekers as more employers are planning to add to their headcount in the fourth quarter, reveals ManpowerGroup’s latest ManpowerGroup Employment Outlook Survey (MEOS).

Out of 700 employers surveyed, 16% of them expect to increase their staffing levels over the next three months, 5% forecast a decrease and 74% anticipate no change. The resulting Net Employment Outlook is +11% after seasonal variations have been taken into account. This is the strongest Outlook in two years, improving by 7 and 4 percentage points from 3Q 2017 and 4Q 2016, respectively.

Staffing levels are forecast to climb in six of the seven industry sectors during 4Q 2017. The Public Administration & Education sector remains the strongest, with employers reporting a solid Net Employment Outlook of +22%, which is 20 percentage points stronger than last quarter, and 15 percentage points more when compared with the final quarter of 2016. Employers in the Services sector and the Transportation & Utilities sector forecast a steady increase in staffing levels, with Outlooks of +18% and +17%, respectively, their strongest Outlooks in over two years.

Elsewhere, Finance, Insurance & Real Estate sector employers report an Outlook of +8%, while Outlooks stand at +7% in the Wholesale & Retail Trade sector and at +3% in the Manufacturing sector. However, Mining & Construction sector report uncertain hiring plans with an Outlook of -1%, the weakest hiring outlook in more than eight years but one that remains relatively stable year-over-year.

When compared with 4Q 2016, hiring prospects strengthen in four of the seven industry sectors, most notably by 15 percentage points in the Public Administration & Education sector and by 10 percentage points in the Transportation & Utilities sector. Wholesale & Retail Trade sector employers report an increase of 7 percentage points while the Outlook is 5 percentage points stronger in the Services sector. Meanwhile, hiring plans weaken in three sectors, most notably by 11 percentage points for the Finance, Insurance & Real Estate sector and by 3 percentage points for the Manufacturing sector.

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