The latest Manpower Employment Outlook Survey reveals that while the region’s Net Employment Outlook stands at an upbeat +11%, the majority of the 808 employers interviewed expect no employment changes in payrolls. Despite a positive forecast for payroll gains in Q4 2012, hiring intentions among Hong Kong-based organisations have weakened by 3% quarter-on-quarter and 10% year- on-year, suggesting stability with a degree of caution.
Sector overview
Predictions for recruiting in the fourth quarter remain positive in all six industries surveyed. An annual comparison, however, reveals declining outlooks across all sectors: A positive hiring environment is forecast in the Wholesale & Retail Trade sector, where the outlook stands at +14% despite a weakening trend of 4% quarter- on-quarter and 5% year-on-year. A similar trend was reported in the Transportation & Utilities sector. Meanwhile, hiring plans are softer in the Finance, Real Estate & Insurance sector, with hiring set to slow down 4% from last quarter and 15% from the same time last year. The Services sector has weakened considerably—13% in the last 12 months. Employers in the Mining & Construction sector are reporting weaker hiring intentions, while those in the Manufacturing sector report a cautiously optimistic forecast of 10% growth.
Regional outlook
In the Asia Pacific region, hiring expectations are softer in the majority of markets compared to three months ago, while a year-on-year comparison reveals declining outlook in all of eight countries and territories. Hiring plans are strongest in Taiwan, Indian and New Zealand, and weakest in Australia.
Global outlook
Globally, employers in 31 of the 42 countries and territories surveyed report varying degrees of positive hiring activity for the fourth quarter of 2012.
Paul Arkwright
Publisher
