Seven industry sectors in Singapore slash hiring intentions for 2012

Read this before you go out looking for a job.

According to Manpower Group's Employment Outlook Survey, employers in all seven industry sectors expect to increase staffing levels during Quarter 4 2012. The most optimistic hiring intentions are reported in the Public Administration & Education sector, with a Net Employment Outlook standing at +29%.

Employers report upbeat hiring prospects in the Finance, Insurance & Real Estate sector and the Mining & Construction sector, with Outlooks of +20% and +18%, respectively. A steady hiring pace is forecast in both the Manufacturing sector and the Wholesale Trade & Retail Trade sector, with Outlooks of +15%.

Quarter-over-quarter, Outlooks weaken in five of the seven industry sectors. The most noteworthy declines of 14 and 10 percentage points are reported by employers in the Transportation & Utilities sector and the Public Administration & Education sector, respectively.

The Mining & Construction sector Outlook decreases by 7 percentage points and a 4 percentage point decline is reported in the Manufacturing sector. Meanwhile, employers report stronger Outlooks in two sectors, including the  Finance, Insurance & Real Estate sector where the Outlook improves by 3 percentage points.

Year-over-year, employers report weaker hiring intentions in all seven industry sectors. The Services sector Outlook declines by a steep margin of 25 percentage points. Elsewhere, Outlooks weaken by 18 and 14 percentage points in the Transportation & Utilities sector and the Finance, Insurance & Real Estate sector, respectively.  The Mining & Construction sector Outlook declines by 12 percentage points and Public Administration & Education sector employers report a decrease of 11 percentage points.