Financials and real estate firms adopt cautious strategies for workforce planning in 2025.

Singapore’s hiring sentiment shows resilience as employers prepare for the first quarter of 2025, balancing optimism with caution. The ManpowerGroup Employment Outlook Survey, which covered 42 countries, reported that 45% of employers in Singapore plan to increase staff, 20% anticipate reductions, and 34% foresee no change in their workforce.

Sector-Specific Trends
Among the nine sectors surveyed, transport, logistics, and automotive reported the strongest hiring outlook, followed by healthcare and life sciences. The financials and real estate sector ranked third but exhibited a net employment outlook (NEO) of 36%, reflecting a decline of 28 percentage points from the previous quarter.

Linda Teo, country manager of ManpowerGroup Singapore, highlighted how broader economic uncertainties, including potential market volatility and interest rate changes, influence hiring trends in financials and real estate. Higher interest rates could elevate borrowing costs and dampen demand in property markets, shaping recruitment strategies in related industries.

Global and Regional Insights
Singapore’s adjusted overall NEO stands at 25%, a four-percentage-point decrease from the prior quarter. Across the Asia-Pacific, hiring prospects remain robust, with a regional NEO of 27%. India leads with a NEO of 40%, followed by China at 29% and Singapore at 25%. Employers in Hong Kong showed the region’s most conservative outlook at just 6%.

Globally, the financials and real estate sector held steady with a NEO of 33%, reflecting a slight quarterly improvement. China led the sector globally with a NEO of 53%, showing strong hiring intentions.

Linda Teo noted that while the hiring outlook in Singapore has moderated, the labour market remains resilient, providing stability in a time of economic uncertainty.

Reworded Text (British English):
Singapore employers cautiously optimistic about hiring in 2025
Singapore’s employment outlook remains stable, with financials and real estate firms taking a measured approach amidst global uncertainties.

The ManpowerGroup Employment Outlook Survey, conducted across 42 countries, indicated that 45% of Singaporean employers intend to expand their workforce, 20% anticipate cuts, and 34% foresee no changes. Among the nine sectors surveyed, transport, logistics, and automotive showed the highest hiring intentions, followed by healthcare and life sciences, with financials and real estate in third position.

The financials and real estate sector recorded a net employment outlook (NEO) of 36%, a 28-percentage-point quarterly drop. Globally, the sector’s NEO stood at 33%, with China leading at 53%. Across Asia-Pacific, the region’s NEO remained steady at 27%, led by India (40%) and China (29%), while Hong Kong posted the lowest at 6%.

Despite a slight dip in Singapore’s overall NEO to 25%, the labour market continues to exhibit resilience, offering stability during times of uncertainty.