77% of employers in Singapore plan to keep workforce levels steady in Q2 2020

As the COVID-19 situation unfolds, employers in Singapore are anticipating a conservative hiring pace for the second quarter of 2020 (Q2 2020).

According to the latest?ManpowerGroup Employment Outlook Survey, of the 622 employers in Singapore polled, only 13% of employers were expecting an increase in headcount, while 4% were expecting a decrease.

The good news is, 77% were planning to keep their workforce levels steady.

The resulting Net Employment Outlook (NEO) is +9% after seasonal variation. Hiring intentions remain constant when compared to last quarter but decline by 2 percentage points (pp) in a year-over-year comparison.

Linda Teo, Country Manager of ManpowerGroup Singapore, said: "As the survey was conducted in January when the Covid-19 outbreak was unfolding, employers were adjusting their hiring intentions to the developing situation. The extent of the impact on businesses remains unclear, but the recent downgrade in Singapore?s growth forecast by the Ministry of Trade and Industry is likely to further dampen employer confidence.

"Nonetheless, pockets of job opportunities can still be found across the various industries and sectors, such as within the Services sector or Financial, Insurance & Real Estate sector."

Infographics / ManpowerGroupLead image / 123RF