Hirings picking up

FIRMS are hiring again, and the new year should bring job prospects that match pre-crisis levels, according to a survey.

The latest employment outlook survey by the Singapore arm of global human resource consultancy Manpower Inc, released on Monday, shows that employers expect a third consecutive quarter of positive hiring, reported The Business Times on Tuesday.

The net employment outlook - the difference between the proportion of bosses likely to recruit more and those likely to cut jobs - rose to 26 per cent. This seasonally adjusted figure was nine percentage points up from Q4's outlook - and a sharp 60-point turnaround from the survey's negative result in Q1 this year.

Back then, Singapore had the worst overall employment outlook among the 35 countries and territories that Manpower surveyed worldwide. But its current outlook for the first quarter of 2010 surpasses all markets but India, said the BT report.

Of 699 employers interviewed across seven industry sectors in October, the majority - 65 per cent - expect to retain their present headcount in Q1 next year, while 27 per cent plan to raise headcount, nine points up from this quarter. But 5 per cent indicate they plan to cut staff strength and 3 per cent are unsure of plans.

Job prospects seem brightest in the finance, insurance and real estate sectors, which has a net employment outlook of 37 per cent. The public administration and education sector expects brisk hiring too, with an overall net outlook of 36 per cent. Services reported a net outlook of 31 per cent, while manufacturing also expect to add headcount, with a net outlook of 20 per cent in the coming quarter.

- The Straits Times