Singapore Eyes Upbeat Hiring Until Year's End

By Author: Diane Paz
Total Articles: 172
Comment this article

US-based Manpower Inc., the largest employment service company in the world, on Tuesday said that upbeat hiring in the Singapore may continue until the end of this year, citing stronger fourth-quarter outlook.

Hiring spree for 2010 may not match the recorded peaks in 2007 and early 2008, but the upbeat hiring pace will most likely to continue through the end of this year, said Manpower country manager Peter Haglund, citing industry survey results to some 699 employers in the city-state.

Manpower was able to arrive with the results by subtracting the number of employers anticipating a decrease in recruitment and employment from those expecting an increase in the October to December period.

Based on the survey, hiring process may remain at seasonally adjusted 23 percent in the fourth-quarter, slightly similar from the previous quarter results.

The survey also showed an 8 percent increase in prospected job growth in the fourth-quarter this year compared to the same period last year. Net employment outlook in 2007 and 2008 reached over 50 percent.

Meanwhile, ...
... the survey also showed a higher headcount prospect for all the industrial sectors in Singapore for the next three months.

In public administration and education sectors, the rise in net employment outlook reached 29 percent, while wholesale and retail trade hiring outlook reached 27 percent.

Also, hiring prospects for mining and construction sectors could reach more than 19 percent while finance, insurance, and real estate sectors posted an 18 percent steady rise in its outlook. On the other hand, the transport and utilities sector posted a 7 percent increase while services sector was seen at 17 percent rise.

The survey was conducted among 16,000 employers in 36 countries and territories, including Singapore.

The survey results also showed positive hiring intentions across the entire Asia-Pacific region in the fourth-quarter, with China and Taiwan posting the highest growth expectations.

With this finding, Singapore-based business registration company AsiaBiz said the global economy is improving after the 2008 financial crisis and recession.

AsiaBiz added that Singapore has already emerged from the economic slowdown after posting an 18 percent growth in gross domestic product in the first half compared to the same period last year.

AsiaBiz offers cost effective business solutions for companies and entrepreneurs wishing to setup a Singapore Company.