Friday, July 10, 2020
Martin Hennecke

Job prospects are looking up across the board
An employment outlook survey of 646 Hong Kong employers found that 21 percent of them expect to hire more employees in the third quarter. However, 4 percent of respondents plan to reduce their staff, while three-quarters of them will maintain their current staffing levels unchanged, according to the survey conducted by the ManpowerGroup. Hong Kong's Net Employment Outlooks (NEO) stood at a respectable +17 percent reflecting a 2 percentage point improvement year-on-year, after accounting for seasonal variations. The NEO is calculated by subtracting employers who plan to reduce staffing levels from those who plan to hire staff. Overall, positive payroll gains are anticipated in all six industry sectors during the next quarter. Finance, insurance and real estate and the services sectors are expected to have the strongest labor markets, where employers reported an NEO of +23 percent and +22 percent respectively. "The continuous strong demand in both primary and secondary property sales market, as well as the favorable sales of primary properties in the first and second quarter, give employers in the real estate sector an optimistic hiring intention," said Lancy Chui, senior vice president of ManpowerGroup Greater China Region. Going by sector, five of the six industry sectors are likely to have more hiring intentions in the next quarter except for services sector, whose hiring prospects are unchanged.

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