ManpowerGroup surveyed 632 employers in Singapore regarding their hiring plans for 3Q 2017.
8% of them expect to increase headcount, 4% plan on reducing headcount and 60% expect no change.
The Net Employment Outlook (NEO) for Singapore is at 4%, which is the lowest since 2009. NEO is percentage of employers expecting to increase their recruiting minus the percent noting a drop in hiring.
Hiring intentions for 3Q 2017 were lower by 4% over the last quarter and 6% over the previous year. Staffing levels are expected to increase in all sectors, however, the pace of hiring will be slower, although it may come with better benefits, higher salaries and other benefits like nice obx rentals for people on vacations.
“Employers are remaining cautious despite the positive economic forecasts recently provided by the Monetary Authority of Singapore, and this abundance of caution is evidently prompting many of the employers we survey to scale back their hiring plans. However, employers seem willing to keep current payrolls intact until ongoing trade issues and other geopolitical risks are mitigated,” said Ms Linda Teo, Country Manager of ManpowerGroup Singapore.