Manpower Employment Outlook Survey Q4 2009/Page 1
UNDER EMBARGO UNTIL 8th September 2009
(00.01 Singapore Time)
Contact:
Elise Ser
Manpower Staffing Services (S) Pte Ltd
+65 6877 8831
elise.ser@manpower.com.sg
Latest Manpower Employment Outlook Survey Suggests Some Labor Market Stability in
Singapore in the Fourth Quarter
SINGAPORE, (8th September 2009) – With the majority of Singapore employers indicating that they foresee
no change in their workforces for the second consecutive quarter, the latest Manpower Employment Outlook
Survey reveals that this will most likely lead to some labor market stability in the fourth quarter.
Singapore’s seasonally adjusted Net Employment Outlook of +6% shows that employer optimism continues
to improve for the second consecutive quarter. Although weaker than historical patterns, Singapore
employer hiring intentions have improved from three months ago. Of the 635 employers interviewed, across
seven industry sectors in Singapore, 18% of employers expect to increase headcount, 4% anticipate a
decrease while 75% foresee no change to their workforces.
Hiring intentions in Singapore are relatively stable quarter-over-quarter with an improvement of 1
percentage point. Year-over-year, however, the Outlook is 4 percentage points weaker. Still, this result
shows a more optimistic hiring climate in comparison to the first half of the year when the labor market was
notably weaker.
“Results of the previous and current quarter’s surveys have signaled that the labor market has stabilized. The
latest official figures released by the government show that the Singapore economy expanded for the first time
in a year in the second quarter. The optimism was echoed by Prime Minister Lee’s comment that the worst is
over for Singapore’s economy. These factors may have boosted employers’ hiring confidence. Although
Singapore is well poised to pick up strongly again because of the government’s comprehensive and decisive
response to the downturn, we must keep in mind that we should not be prematurely optimistic about an overall
recovery, as there are companies still looking into cost reduction through retrenchment,” said Peter Haglund,
Country Manager of Manpower Singapore.
Manpower Employment Outlook Survey Q4 2009/Page 2
Employers in six of the seven industry sectors anticipate headcount gains during Quarter 4 2009. The
strongest hiring prospects are in the Finance, Insurance & Real Estate sector and the Wholesale Trade &
Retail Trade sector, with employers in both reporting Net Employment Outlooks of +18%. In the Public
Administration & Education sector, employers forecast a favorable labor market with an Outlook of +15%.
Meanwhile, job seekers will continue to face gloomy hiring prospects in the Manufacturing sector, where
the Outlook is -11%.
Quarter-over-quarter, the Outlook has strengthened in five industry sectors. A sharp improvement of 24
percentage points is reported by Finance, Insurance & Real Estate sector employers, and there are
considerable increases of 18 and 16 percentage points in the Outlooks for the Manufacturing sector and
the Public Administration & Education sector, respectively. Hiring prospects in the Wholesale Trade &
Retail Trade sector also improve by 11 percentage points.
Year-over-year, the Outlook is stronger by a considerable 10 percentage points in the Transportation &
Utilities sector, while in the Finance, Insurance & Real Estate sector, employers report a 9 percentage point
improvement. Elsewhere, however, hiring intentions have weakened. In the Mining & Construction sector,
employers report a considerable decrease of 15 percentage points, while in the Manufacturing sector, the
Outlook declined by 13 percentage points.
“As organizations shift from survival to recovery, employers around the world are looking to hire again. More
employers expect to hire people in order to train them in preparation for the market’s potential turnaround.
The real estate market in Singapore is upbeat and this may explain the optimistic hiring outlook for this
sector. However, the Manufacturing sector seems to be suffering as demand has yet to pick up significantly
for exports. In order to minimize potential talent loss, employers should work on improving employee
engagement to cultivate a sense of belonging in employees as this is important to retain your top talent when
the market picks up,” said Peter Haglund.
Employer confidence is improving in most labor markets throughout Asia Pacific. Employers report positive
hiring intentions in six of the eight countries and territories surveyed, although hiring activity is expected to
be slower than historical patterns across the region. Hiring intentions improve or remain unchanged in all
countries and territories compared to three months ago, with encouraging improvements reported by
employers in Hong Kong, India, Australia and China. The year-over-year hiring pace, however, is expected
Manpower Employment Outlook Survey Q4 2009/Page 3
to remain weaker throughout the region, with employers in Japan reporting their least optimistic forecast
since the survey began there, and employers in India and Hong Kong also reporting notable declines.
The next Manpower Employment Outlook Survey will be released on 8 December 2009 to report hiring
expectations for the first quarter of 2010. The Manpower Employment Outlook Survey is available free of
charge to the public through their local Manpower representative in participating countries. To receive email notification when the survey is available each quarter, interested individuals are invited to complete an
online subscription form at: http://investor.manpower.com/investors/alerts.cfm.
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Note to Editors
Commentary is based on seasonally adjusted data where available. Full survey results for each of the 35
countries and territories included in this quarter’s survey, plus regional and global comparisons, can be
found in the Manpower Press Room at www.manpower.com/meos. In addition, all tables and graphs from
the full report are available to be downloaded for use in publication or broadcast from the Manpower Web
site at http://www.manpower.com/library.
About the Survey
The Manpower Employment Outlook Survey is conducted quarterly to measure employers’ intentions to increase
or decrease the number of employees in their workforce during the next quarter. The survey has been running for
more than 45 years and is one of the most trusted surveys of employment activity in the world. Various factors
underpin the success of the Manpower Employment Outlook Survey:
- Unique: It is unparalleled in its size, scope, longevity and area of focus.
- Projective: The Manpower Employment Outlook Survey is the most extensive, forward-looking employment
survey in the world, asking employers to forecast employment over the next quarter. In contrast, other surveys
and studies focus on retrospective data to report on what occurred in the past.
- Focused: For more than four decades, the survey has derived all of its information from a single question.
- Independent: The survey is conducted with a representative sample of employers from throughout the countries
in which it is conducted. The survey participants are not derived from Manpower’s customer base.
- Robust: The survey is based on interviews with over 72,000 public and private employers across 35 countries
and territories to measure anticipated employment trends each quarter. This sample allows for analysis to be
performed across specific sectors and regions to provide more detailed information.
For more information, visit the Manpower Inc. Web site at www.manpower.com and enter the Research
Center.
Manpower Employment Outlook Survey Q4 2009/Page 4
Survey Question
All employers participating in the survey worldwide are asked the same question, “How do you anticipate total
employment at your location to change in the three months to the end of December 2009 as compared to the
current quarter?”
Surveyed Industry Sectors
 Finance, Insurance & Real Estate
 Manufacturing
 Mining & Construction
 Public Administration & Education
 Services
 Transportation & Utilities
 Wholesale Trade & Retail Trade
Net Employment Outlook
Throughout this report, we use the term “Net Employment Outlook.” This figure is derived by taking the
percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of
employers expecting to see a decrease in employment at their location in the next quarter. The result of this
calculation is the Net Employment Outlook.
About Manpower Singapore (Manpower Staffing Services (S) Pte Ltd)
Established in 1996, Manpower Staffing Services (S) Pte Ltd is a wholly owned subsidiary of Manpower Inc.
Manpower Singapore has carved a reputation for itself as an industry innovator and has worked with both public
and private sectors to develop new staffing policies and solutions. We offer a full expert recruitment service
backed by award winning training, HR Services, outsourcing and consulting. The company’s extensive resources,
world-class client list, and reputation attract a diverse group of talent, with every level of education, skills and
experience. We support the workforce needs of businesses of every size. From entry-level to top management.
From temporary to permanent. At Manpower, we lead in the creation and delivery of services that enable our
clients to win in the changing world of work. More information on Manpower is available at
www.manpower.com.sg.
About Manpower Inc.
Manpower Inc. (NYSE: MAN) is a world leader in the employment services industry; creating and delivering
services that enable its clients to win in the changing world of work. Founded in 1948, Manpower offers employers
a range of services for the entire employment and business cycle including permanent, temporary and contract
recruitment; employee assessment and selection; training; outplacement; outsourcing and consulting.
Manpower's worldwide network of 4,100 offices in 82 countries and territories enables the company to meet the
needs of its 400,000 clients per year, including small and medium size enterprises in all industry sectors, as well
as the world's largest multinational corporations. The focus of Manpower's work is on raising productivity through
improved quality, efficiency and cost-reduction across their total workforce, enabling clients to concentrate on
their core business activities. Manpower Inc. operates under five brands: Manpower, Manpower Professional,
Elan, Jefferson Wells and Right Management. More information on Manpower Inc. is available at
www.manpower.com.