More job/employment opportunities expected in Q1 2011
Jobseekers in Singapore can expect a good start to 2011, with an increase in employment expected in the first quarter of the year. Overall, the net employment outlook for Singapore is +27%, improving five percentage points both quarter-over-quarter and year-over-year. One in three local employers across all sectors is expecting to see an overall staff increase over the next three months. But 60% are not planning to increase or decrease staff size, according to the Manpower Employment Outlook Survey.
The finance, insurance and real estate sectors are anticipated to see the “most optimistic forecast since 2008”, where the net employment outlook is +39%. The public administration and education sector also expects growth with a predicted +36%.
The services sector is expected to increase by +29%, both manufacturing, and mining and construction by +26%, wholesale trade and retail trade by +24% and transportation by +23%.
“We expect jobseekers throughout Singapore to benefit from a healthy labor market in the months ahead,” Peter Haglund, country manager of Manpower Singapore, said.
The Asian economy has been faring much better coming out of the recession and he optimistic employment outlook could be in line with the steady growth of the local and regional economy.
India, China and Brazil reported positive outlooks for next year, but Japan is expecting a weak and modest outlook. Globally, Brazil, Peru and Panama reported the strongest outlook and the U.S. reported its strongest first quarter hiring intentions since the end of 2008.
The survey polled 686 employers from seven sectors. They included the public administration and education, finance, insurance and real estate, transportation and utilities, manufacturing, wholesale trade and retail trade, services, and mining and construction sectors.
The net employment outlook is determined by subtracting the total percentage of employers expecting to decrease their workforce in the next quarter from the total percentage of employers expecting to increase it.
Sources and references: HRO
