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Career and Study

Is services sector going to boost staffing levels?

Career and Study

The Manpower Employment Outlook Survey for the third quarter based on interview of more than 60,000 employers from Hong Kong and across the globe shows that 21% respondents plan to boost staffing levels in the next quarter. The services sector is most upbeat about its hiring plan, with NET Employment Outlook of +24%, up 4 percentage points year-over-year. Following services sector, mining and construction industry also expects an upbeat labour market with NET Employment Outlooks of +20%, which can be attributed to the shortage of over 10,000 workforce.

The employment outlook index for Finance, Insurance and Real Estate industry stands at 19%, driven by buoyant stock and property markets, while the Transportation and Utilities sector expects a steady hiring pace with employers reporting a NET employment Outlook of +13%. As tourist arrivals rise, demand for manpower in Air and Freight forwarding services industry grows at the same time. It should be noted that the development of Cloud Technology greatly boosts the demand for client data analysts, information technology security personnel, computer and mobile application developers. When it comes to professional services, many legal firms have gone north for better development and multilingual accountants and auditors will be sought-after undoubtedly.

Despite the relatively upbeat anticipated hiring scene, 4% of the respondents expected a layoff plan. These employers are mainly from the wholesale and retail industries. Due to the decline in the revenues of retail industry and the change of consumption mode, employers’ intention to expand workforce remains relatively stable. The industry sees the Employment Outlook figure dropping 2 percentage points quarter over quarter.

The Outlook acts as a reference for job seekers to have a glimpse at employers’ anticipation in terms of workforce expansion. As services industry is people-oriented with diversified target groups, those who aspired to embark on a career journey in this field should be well equipped with good interpersonal and communication skills.