7 out of 10 firms not hiring in 3Q
If you're a job seeker, find out what industries are closing doors for applications.
According to the latest Manpower Employment Outlook Survey results released today by Manpower Singapore, employers expect the hiring pace to remain active in Quarter 3 in 2012
Singapore employers predict solid payroll gains in Quarter 3 2012, with 26 percent of employers forecasting an increase in staffing levels, 3 percent anticipating a decrease and 69 percent expecting no change. Once the data is adjusted to allow for seasonal variation, the Outlook stands at +23%. Quarter-over-quarter, employers report a 3 percentage point increase. However, the Outlook is 6 percentage points weaker when compared with Quarter 3 2011.
“A positive growth curve in the Asia Pacific region is driving a demand for talent. Hiring prospects continue to improve in Quarter 3 which indicates that employers are seeing growth in the Asia Pacific region. With possible expansion plans in the pipelines, employers recognize that this growth requires precisely the right talent to give their organizations a competitive edge,” said Linda Teo, Country Manager of Manpower Singapore.
“Employer hiring plans have now improved for two consecutive quarters and this optimism should impact Singapore job seekers favourably. The survey results show that employment prospects have continued to improve steadily each quarter since the beginning of this year,” said Ms. Teo.
“We continue to see that employers are adding individuals to their payrolls who possess specific skill sets. However, demand is struggling to keep up with supply in some sectors. There are continuing signs that the supply of blue-collar foreign workers in Singapore could be drying up. The high cost of living here, combined with better prospects in the workers' home countries, have all played a part in this reverse migration trend. Employers in sectors that rely on foreign workers—such as retail, food and beverage, and manufacturing—indicate they are having trouble finding workers from Malaysia, a traditional source for workers to fill lower-skilled positions. And efforts to replace lower-skilled labour for the Construction sector is becoming more of a challenge and may stall some projects according to employers who say that Thai, mainland Chinese, and even Indian workers are becoming difficult to find.”
Employers in all seven industry sectors expect to increase staffing levels during the next three months. In three out of the last four quarters, employers in the Public Administration & Education sector report the most optimistic hiring plans; the Outlook of +40% improves moderately both quarter-over-quarter and year-over-year. Mining & Construction sector employers forecast a strong hiring pace with an Outlook of +25%. Positive hiring plans are also reported by Transportation & Utilities with an Outlook of +21%. Even though employers in the Finance, Insurance & Real Estate sector employers report a positive Outlook of +17%, opportunities for job seekers in the sector have weakened steadily over the past year, and the Outlook is 19 percentage points weaker than it was last year at this time. Elsewhere, employers in the Manufacturing and Service sectors report upbeat Outlooks of +18% and +16%, respectively.
Quarter-over-quarter, hiring prospects improve in five of the seven industry sectors, according to employers. The most noteworthy increase of 9 percentage points is reported in the Wholesale Trade & Retail Trade sector. Meanwhile, hiring prospects weaken in two sectors, with employers reporting an Outlook decline of 3 and 2 percentage points in the Transportation & Utilities and Finance, Insurance & Real Estate sectors, respectively.
Year-over-year, employers report weaker hiring intentions in five of the seven industry sectors. In addition to the considerable decline noted in the Finance, Insurance & Real Estate sector, decreases of 14 and 11 percentage points are reported in the Services sector and the Wholesale Trade & Retail Trade sector, respectively. Transportation & Utilities sector employers report a 9 percentage point Outlook decline. Meanwhile, hiring prospects strengthen by 4 percentage points in both the Mining & Construction sector and the Public Administration & Education sector.