The outlook has brightened for the Singapore economy with news that more employ
ers are expecting to return to the hiring table over the next three months, according to
Manpower’s quarterly employment outlook survey.
Of the 697 employers considered for the third-quarter update, 12 per cent expect
ed to see an increase in their headcounts. A further 7 per cent predicted a decrease in
staff while the remaining respondents said that they expected there would be no change
in the third quarter.
Philippe Capsie, country manager of Manpower Singapore, said this represented
a significant turnaround on the group’s second-quarter survey. In that time period, more
employers had said they expected to reduce headcount than increase it.
“While there is no quick fix in this current economy downturn, employers’ hiring con
fidence is improving,” he said. “Most employers are saying they will retain present staff
in the third quarter, indicating that the worst may be behind us.”
The survey considered seven industry sectors. Of these, four (including manufactur
ing, finance and construction) predicted negative employment growth overall. In contrast,
modest growth was predicted for the transportation, utilities and retail trade sectors.