, Singapore

One-third of employers anticipate weak hiring environment

This marks the weakest net employment outlook in 11 years.

About 38% of employers are expecting a decline in hiring activities, whilst 46% are not expecting any changes, according to a survey by ManpowerGroup Singapore. After accounting for seasonal variation, the net employment outlook stands at -28%.

This suggests that hiring intentions have been the weakest amongst employers since 2009, ManpowerGroup Singapore said. However, two-thirds or 66% of employers surveyed expect hiring levels to return to pre-COVID-19 situation within the next 12 months.

Respondents of the survey project that there will be a slash in payrolls in the coming quarter. With a reported 57%plunge in the net employment outlook, the mining and construction sector is forecast to be the weakest labour market followed by services and manufacturing sectors with -35% and -21%, respectively. The finance, insurance and real estate as well as transportation and utilities sectors reported outlooks of -3% and -1%, respectively. The only sector projecting a positive employment outlook is the public administration and education sector, which showed a +10% outlook.

Out of all the Asia Pacific countries and territories, Japan is anticipating the strongest labour market, whilst the weakest markets are expected to be Singapore and Australia.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!