Hiring sentiment hits seven-year low as escalating uncertainty haunts employers

Only 11% of employers expect to increase staffing levels.

Jobseekers in Singapore will have a tougher time looking for employment over the next three months, according to ManpowerGroup's latest employment outlook survey.

Singapore's net employment outlook stands at a modest 9% from July to September this year, the weakest forecast reported since Q3 2009.

Of the 647 employers surveyed, 11% expect to increase staffing levels while 1% anticipate a decrease. However, 78% of the employers surveyed said they expect to keep current payrolls intact through the July-September time frame.

“Even though we may not be in a recessionary mode, the employment sentiment certainly isn’t as positive as it has been in the past. In fact, the third-quarter results are the weakest reported since we started to emerge from the last global financial crisis," said Linda Teo, country manager of ManpowerGroup Singapore.

"Employers are clearly sensing more uncertainty in the business environment, but most of them appear to be waiting for clearer signs in the market place before they engage in further personnel decisions," she added.

In terms of industry sectors, hiring sentiment is strongest in the finance, insurance & real estate sector, with an outlook of 16%. Meanwhile, the weakest forecast is reported in the wholesale trade & retail trade sector.