Singapore's net employment outlook at its highest in two years

Singapore’s net employment outlook at its highest in two years

The outlook stood at +11% for Q4.

Things are looking good for job hunters as net employment outlook in Singapore hit +11% for Q4, the highest in two years.

According to ManpowerGroup Singapore's (MGS) ManpowerGroup Employment Outlook Survey (MEOS), 16% of 700 employers expect an increase in staff over the next three months. Around 74% do not expect any change, whilst 5% see a drop in workers.

The net employment outlook rose by 11%, the highest in two years.

"The rise in Net Employment Outlook might be attributed to employer confidence bolstered by Singapore’s recent economic growth, which grew by 2.7% in the first half of 2017," ManpowerGroup Singapore country manager Linda Teo said.

"Although there’s a renewed confidence amongst employers, many remain wary and are adopting the wait-and-see mentality amidst worries that trade numbers could weaken and domestic demand may stall despite the potential pickup in trade,” she added.

Staffing levels are seen to rise amongst six of the seven sectors in Q4.

The Public Administration & Education tops the forecast with an outlook of 22%, followed by the Services and Transportation & Utilities sectors with 18% and 17%, respectively.

Moreover, Financial sector employers have an outlook of 8%, whilst Wholesale & Retail and Manufacturing employers post 7% and 3%.

However, things go bleak for the Mining & Construction sector with an outlook of -1%, the weakest in over eight years. MGS noted that the rate has been relatively stable YoY.

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