Stable Hiring Sentiment for Q1 2025, with a Cautious Approach in Uncertain Times
Hiring sentiment in Singapore remains relatively stable, with a strong outlook for staffing levels in the first quarter of 2025, according to the ManpowerGroup Employment Outlook Survey. The survey, which involved 525 employers across nine sectors, revealed that 45% plan to increase headcount, 34% foresee no changes, and 20% expect reductions.
While hiring expectations are positive across various sectors, the financials and real estate sector remains cautious due to economic uncertainties. These sectors show a significant decline in hiring plans, with a net employment outlook (NEO) of 36%, down 28 percentage points from the previous quarter.
Linda Teo, country manager at ManpowerGroup Singapore, pointed out that global economic policies, potential market volatility, and interest rate uncertainties have influenced these hiring sentiments. The financials and real estate sectors are adopting a more conservative approach during times of global uncertainty, which may dampen demand in related fields, particularly in property and borrowing costs.
