More than four in 10 employers expect to hire in the third quarter
Hiring sentiment in Singapore has slightly softened in the third quarter as global trade uncertainty takes hold of recruitment decisions for organisations, according to a new report.
Singapore's Net Employment Outlook stands at 24%, down by three points from the second quarter, the latest ManpowerGroup survey revealed.
The Net Employment Outlook (NEO) indicates the overall hiring sentiment among employers, with a positive one suggesting more employers are expecting to hire in the coming quarter.
Singapore's NEO is one of the strongest in the Asia-Pacific region, just behind India (42%) and China (28%). However, it falls behind the regional average (29%).
According to the report, 43% of employers in Singapore are expecting an increase in hiring in the third quarter, driven strongly by company growth (43%), the need for the latest skills (30%), and tech advancements (30%).
On the other hand, 19% of employers are anticipating a decrease in staffing levels, with 42% of them citing economic uncertainty.
The findings come as the report revealed that 69% of companies in Singapore said global trade uncertainty is shaping their hiring decisions, including 24% who said it has a "lot of impact".
Linda Teo, Country Manager of ManpowerGroup Singapore, noted that employers are addressing uncertainty by strategically preparing for the future of work.
According to the report, 58% are future-proofing their HR strategy for an ageing workforce, while 64% are increasing their investment in task or process automation.
"Employers are holding on to their talent while strategically investing in future-proofing their workforces, adopting a wait-and-see approach to the global trade environment," Teo said. "This underscores a shift toward greater workforce agility—aligning talent investments with evolving market dynamics."
The Singapore government has been taking steps to prepare its businesses for the impact of US President Donald Trump's 10% baseline tariff.
A taskforce chaired by Deputy Prime Minister Gan Kim Yong was recently established "to help businesses and workers address the immediate uncertainties, strengthen their resilience, and better adapt to the new economic environment."
