Update | Jobs outlook ‘stable’: Finance, services sectors up but retail down, says poll
Hong Kong’s employment outlook in the first quarter of next year is expected to remain stable despite economic uncertainty, a survey has found.
ManpowerGroup, a human resources firm, polled 760 employers in October and found that 18 per cent are planning to increase staff levels while 3 per cent are planning to cut staff numbers.
This would result in a net employment outlook of 15 per cent – the percentage of companies planning to increase staff levels minus those planning to let go of staff. This 15 per cent level is the same as that for the same period this year.
The mining and construction sector is expected to see the most robust hiring incentive, with a net employment outlook of 24 per cent.
“A boom in residential housing supply continues to stimulate the hiring plans of employers in the mining and construction sector,” said Lancy Chui, ManpowerGroup’s Greater China senior vice-president.
“Over 80,000 new flats are expected to be completed in the next few years. Highly skilled workers are in demand.”
The net employment outlook for the first quarter of next year is expected to be 22 per cent for the finance, insurance and real estate sector; 7 per cent for manufacturing ; 21 per cent for services; 15 per cent for transportation and utilities; and 6 per cent for wholesale and retail trade.
Although the wholesale and retail trade is still expected to see a positive net employment outlook, the 6 per cent forecast is down from the 11 per cent in the first quarter of this year.
“A continuous drop in sales in the retail industry has slowed hiring among employers in this sector, where overall growth of inbound tourism has decreased and is impacting Hong Kong’s retail industry,” Chui said.
“In some cases, the employers are hiring part-time staffs instead of full-time staffs.”
