Singapore Sees Highest Employment Outlook in 2 Years

September 14, 201712:10 pm851 views

With more employers in Singapore are planning to add to their headcount in the fourth quarter, job seekers can expect more job opportunities this year, the latest ManpowerGroup Employment Outlook Survey found.

Released on Monday (Sep 11), the poll noted a growth of 11 percent in net employment outlook after seasonal variations have been taken into account. From 700 employers participated in the survey, 16 percent expect to increase their employment level over the next three months, while the other 5 percent forecast a decrease and 74 percent anticipate no change.

This figure marked the strongest outlook in the past two years, improving by 7 percentage points from the previous quarter, and up 4 percent from the same period.

Country manager of ManpowerGroup Singapore Linda Teo said the rise in net employment outlook might be attributed to employer confidence owing to Singapore’s recent economic growth. In the first half of the year, Singapore’s economy grew by 2.7 percent.

Ms Teo said that while there is a renewed confidence amongst employers, many are still wary and adopting the wait-and-see mentality due to worries that trade numbers could weaken and domestic demand may stall despite the potential pick-up in trade.

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Staffing levels are predicted to increase in six of the seven industry sectors during the last three months of the year. According to the report, the public administration and education remain the strongest sector, with employers reporting a solid net employment outlook of 22 percent expansion. Additionally, employers in the services sector and the transportation and utilities sector also forecast a steady increase in staffing levels.

“The stronger hiring outlook in the services sector reflects the expected surge in demand for IT specialists, especially those dealing with cyber operations and cyber security as more companies go digital,” said Ms Teo. She also added that Singapore’s Smart Nation project is also forecast to drive demand more talents for data scientists and software engineers.

Meanwhile, employers in the finance, insurance and real estate sector, the wholesale and retail trade sector, and the manufacturing sector can expect a modest rise in hiring outlook, Today Online reports.

The report also noted the mining and construction sector is the one with weak spot, with a contractionary outlook of 1 percent, the lowest in more than eight years.

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