Many MNCs in Singapore already freeze hiring, says PrimeStaff report on Q1 outlook
Many Multinational Corporations located in Singapore have already frozen the hiring of staff, due to the prolonged economic challenges in the Eurozone and sluggish growth in the United States.
But Singapore's job scene is not likely to be badly hit, according to the employment outlook for the first quarter of 2013 painted by Singapore-based human resource consultancy firm, PrimeStaff Management Services.
It said Singapore's unemployment rate is expected to "remain status quo" although there could be a very slight increase in unemployment.
It believes several sectors will hire aggressively, due partly to the manpower crunch from the tightening of employment policies for foreign workers.
They include hospitality, food & beverage, retail, construction and healthcare.
Demand for manpower in niche areas, such as education research, IT and engineering, is set to increase.
Companies in the manufacturing sector are likely to lay off workers, due to sluggish global growth.
Those in the banking sector are likely to do likewise, due to stiff competition and the need to restructure the workforce to meet changing market demands.
MORE SINGAPORE NEWS
Latest Photo Galleries on xinmsn
The Ebola epidemic that has killed more than 1,500 people across West Africa spread to a fifth country in the region on Friday with the firs... More The Ebola epidemic that has killed more than 1,500 people across West Africa spread to a fifth country in the region on Friday with the first confirmed case of the deadly virus in Senegal. Duration: 00:39
Date 31 mins ago, Duration 0:39, Views 0