Singapore firms anticipate moderate hiring

Strong labour markets are predicted for the first quarter of 2018

Singapore firms anticipate moderate hiring
Singapore can expect moderate hiring activity among employers for the first three months of 2018, according to data from HR consulting firm ManpowerGroup.

It’s Employment Outlook Survey of nearly 650 employers showed that 15% expect to increase their staffing levels over the first quarter. Another 6% forecast a decrease and 69% anticipate no change.
The poll observed the strongest labour markets in the Finance, Insurance & Real Estate sector and the Public Administration & Education sector, as both reported the strongest hiring outlook in over 3 years.

According to ManpowerGroup Singapore country manager Linda Teo, the positive outlook for finance could be attributed to the pickup in economic growth. This has fanned consumer sentiment, leading to a greater appetite for loans and financial products like insurance.

“Also, as financial institutions continue to expand their digital capabilities, especially in the areas of cybersecurity and financial technology (fintech), there will be a consistent demand for IT talents like data analysts and blockchain specialists,” she added.

Services sector employers anticipate a steady hiring pace, while Wholesale & Retail Trade sector employers report a cautiously optimistic outlook. Hiring plans are more cautious in the Manufacturing sector, and in both the Mining & Construction and Transportation & Utilities sectors.

“While the employers in the Manufacturing sector anticipate demand for semiconductor-related equipment to continue into 2018, the economy is still in its recovery phase. Employers are taking a cautious approach to see if the current economy transitions to a normalisation phase,” said Teo.


Related stories:
Singapore’s labour market shows slight uptick
Workplace training scheme launched in Singapore
 

Free newsletter

Our daily newsletter is FREE and keeps you up-to-date with the world of HR. Please complete the form below and click on subscribe for daily newsletters from HRD Asia.

Recent articles & video

What does the 'leader of the future' look like?

Evidence points to gender bias in IT job ads

How to improve your HR leadership in 2019

Employees 'unsatisfied' with L&D opportunities

Most Read Articles

Manila’s IT talent to tackle Industry 4.0 challenges

HR lacks critical leadership support to transform

How to attract and retain Gen Zs and millennials