SINGAPORE: Singapore’s labour market outlook in 2014 remains positive, according to a survey by workforce consultancy firm ManpowerGroup.
The latest Manpower Employment Outlook Survey shows 23 per cent of Singapore employers hope to increase staffing levels for the second quarter of 2014.
The survey for Q2 2014 was conducted by interviewing a representative sample of 700 employers in Singapore. Five per cent of employers surveyed are anticipating a decrease, while 66 per cent are forecasting no change.
Hiring prospects show improvement by two percentage points when compared with the previous quarter.
Of seven sectors surveyed, the strongest hiring forecast for the coming quarter is in the transportation and utilities sector.
Healthy hiring pace is also reported in the finance, insurance and real estate, services, mining and construction, public administration and education sectors.
“The expected weakness in the manufacturing sector is not surprising especially following the fall in biomedical manufacturing output,” said Linda Teo, Country Manager of Manpower Singapore.
Payrolls are expected to increase in all seven industry sectors during the coming quarter.
Teo added: “Singapore’s labour market outlook in 2014 remains positive, thanks to the expected recovery of business confidence in the US, Europe and China.
This will positively impact business outlook in Singapore, and it will be reflected by the job gains in all seven industry sectors. The talent shortage however, is likely to intensify as tighter foreign worker policies are implemented.”
The Manpower Employment Outlook Survey is conducted quarterly to measure employers’ intentions to increase or decrease the number of employees in their workforces during the next quarter.