Hong Kong employers expect staffing levels to increase during the next three months at a steady pace, according to the Quarter 4 results of the 2016 Manpower Employment Outlook Survey (MEOS).
Hong Kong’s Net Employment Outlook stands at +13%. Hiring intentions remain relatively stable when compared with the previous quarter but decline by 2 percentage points year-over-year.
Sixteen percent of the 740 employers surveyed forecasted an increase in staffing levels in 4th quarter 2016, while 3 percent predicted a decrease. 81 percent of overall employers surveyed expect no employment changes in Q4 2016.
Employers in all six industry sectors expect to increase staffing levels during 4Q 2016. The strongest labor market is anticipated in the Mining & Construction sector, where the Net Employment Outlook stands at +19%.
Elsewhere, employers report upbeat hiring intentions with Outlooks of +18% and +16% in the Services sector and the Transportation & Utilities sector, respectively.
Employers in four of the six industry sectors report weaker hiring prospects when compared with 4Q 2015.
Services sector employers report the most noteworthy decline of 9 percentage points, while the Outlook for the Finance, Insurance & Real Estate sector is 6 percentage points weaker.
Hong Kong is one of 43 countries and territories that take part in the Manpower Employment Outlook Survey. In the Asia Pacific region, employers in India and Japan report the strongest fourth-quarter hiring plans, while those in China and Singapore report the weakest.