Jobseekers’ woes may well continue into the last quarter of the year, as the hiring pace in Singapore is expected to stay muted. This was reflected in the results of the Employment Outlook Survey released by global recruitment firm ManpowerGroup, on September 8.
Of the 462 employers interviewed, 10% are looking at a decrease in payrolls next year. 7% are looking at an increase while 73% expect things to remain at status quo. This translates to a net employment outlook of -3% for 4Q20 – a 25 percentage point improvement from sentiment for the ongoing 3Q20.
Still, the sentiment is 8 percentage points weaker than the net employment outlook of +5% registered a year ago. This reflects the impact of the Covid-19 health-turned-economic crisis on the local labour market, ManpowerGroup observes.