Q3
2024
ManpowerGroup Employment Outlook Survey
Singapore Findings
© ManpowerGroup Employment Outlook Survey
Executive Summary
In the latest edition of the ManpowerGroup Employment Outlook Survey, 525 employers from Singapore were asked about their third quarter hiring intentions, AI adoption journey, and challenges faced along the way.
20% Singapore Net Employment Outlook: Calculated by subtracting employers planning reductions vs. those planning to hire.* Weakened by 4% from the previous quarter and by 14% when compared to the same time last year.
More than half (54%) of companies said they have already adopted AI, an increase of 12% year-over-year, though employers reveal that AI optimism varies by seniority.
More than half (57%) of employers expect to increase headcount due to AI and ML over the next two years and more than one in four believe there will be no impact.
Highest Singapore Hiring Demand:
Transport,Logistics andAutomotive
Healthcare
and Life Sciences
Industrials
and Materials
*Net Employment Outlook results range from +100% to –100%
Singapore Employment Outlook for Q3 2024
Singapore Net
Employment Outlook
44%
24%
32%
0%
of employers anticipate
an increase in hiring
anticipate a decrease
report no change
are unsure
Q3 Singapore Employment Outlooks
Used internationally as a bellwether of labor market trends, the Net Employment Outlook (NEO) — calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire — softened to 20%.
Changes Over Time
Q3 Singapore Employment Outlooks
Singapore outlooks weakened by 4% since the previous quarter and are down 14% when compared to the same period last year.
Q3 Singapore Employment Outlooks
Singapore Employment Outlooks Across Key Industry Sectors
Q3 Singapore Employment Outlooks
Businesses in the Transport, Logistics and Automotive industry reported the strongest outlook, growing by 22% versus Q2 2024.
*Includes: Government or Public Service; Not for Profit/NGO/Charity/Religious organization; Other Industry; Other Transport, Logistics and Automobiles Sub-Industry; Educational Institutions; Agriculture and Fishing
47%
Transport,
Logistics and Automotive
Healthcare and Life Sciences
Industrials and Materials
Consumer Goods and Services
Other* / None of the Above
Energy and Utilities
Information Technology
Financials and Real Estate
Communication Services
36%
31%
21%
21%
20%
20%
15%
-33%
Q3 Singapore Employment Outlooks
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Q3 2024 ManpowerGroup Employment Outlook Survey
Singapore Findings
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