25% of Hong Kong employers plan to cut staff in next quarter: survey
Company releases poll results as latest government figures show unemployment rate has reached 30-month high, at 3.5 per cent for March to May
About 25 per cent of Hong Kong employers plan to cut staff in the next quarter, according to a human resources company’s survey, as the latest government figures showed the city’s unemployment rate reached a 30-month high of 3.5 per cent for March to May.
Workforce solutions provider ManpowerGroup Greater China released its latest employment outlook survey on Tuesday, with about 33 per cent of the 522 employers polled saying they expected to hire more personnel in the next three months.
About 25 per cent of respondents anticipated job cuts, while around 41 per cent foresaw no change in staff numbers.
ManpowerGroup also compiled a Net Employment Outlook (NEO) index for Hong Kong, which was calculated by subtracting the percentage of employers that anticipated manpower cuts from those expecting an increase.
The city’s index stood at 8 per cent for the third quarter, down from 11 per cent in the last quarter and contrasting with an international level of 24 per cent for the next three months.
Lancy Chui Yuk-shan, senior vice-president of the company, said: “Overall, Hong Kong’s job market is facing multiple challenges, including the slowdown in the global economy and geopolitical pressures.