Hiring outlook in Singapore shows signs of improvement despite global uncertainties
According to a survey by ManpowerGroup, published on Sept 10, 2024, almost half of Singapore’s employers (46%) plan to increase their workforce in the fourth quarter of 2024. This marks a positive shift in hiring sentiment, though the outlook is weaker compared to the previous year.
The Net Employment Outlook (NEO) for Q4 stood at 29%, reflecting a nine percentage point improvement from the preceding quarter. However, it was down by seven percentage points compared to the previous year.
The survey of 525 public and private sector employers revealed that finance and real estate, transport, logistics, and automotive industries expressed the strongest hiring sentiments, while the energy and utilities sector recorded a negative outlook (-30%).
Linda Teo, ManpowerGroup’s Singapore Country Manager, highlighted that global uncertainties could affect whether hiring optimism persists, as Singapore’s economy remains highly influenced by global economic conditions.
