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Taiwan firms turn cautious about hiring in Q4: survey

Taiwan firms turn cautious about hiring in Q4: survey

Taipei, Sept. 12 (CNA) Employers in Taiwan have turned cautious about hiring for the fourth quarter at a time when the economies at home and abroad have been slowing down amid falling global demand, according to a survey. Citing the survey it has conducted, U.S.-based human resources advisory firm ManpowerGroup said that Taiwan's net projected employment for the October-December period after seasonal adjustments fell 4 percentage points from a quarter earlier to 36 percent. The fourth quarter figure was also 5 percentage points lower from a year earlier. The poll, which reflects hiring confidence among employers, calculated the net employment outlook by subtracting the percentage of employers anticipating a decline in total employment from the percentage expecting to see an increase. For the fourth quarter, 40 percent of a total of 1,125 employers in Taiwan surveyed said that they will recruit new employees, down 7 percentage points from a year earlier.
At the same time, 5 percent of them said they will cut their workforce, up 3 percentage points from a quarter ago. After seasonal adjustments, that puts the fourth quarter's net employment at a projected rate of 36 percent, ManpowerGroup said.
In the survey, 53 percent of the polled employers said that they had no plan to adjust their workforce, up 4 percentage points from a quarter earlier. ManpowerGroup said that the fourth quarter is a traditionally slow season for the job market, while amid uncertainty over the economy, employers tended to hold a cautious attitude for the three-month period. The advisory firm said that many of the employers wanted to put their recruitment plans on hold for the moment and await signs of a market recovery. Compared to other countries, the survey showed that Taiwan's fourth quarter employment outlook was the second highest in the Asia Pacific region, only trailing India, where a net 41 percent of employers are expected to hire more workers. In terms of companies in Taiwan, the net employment rate among large enterprises with a workforce of more than 250 employees each hit 42 percent, higher than the 31 percent recorded by medium-sized companies with a workforce of 50-249 employees, and the 21 percent registered by small-sized firms with 10-49 employees, ManpowerGroup said. As for sectors, the local service sector recorded the best hiring outlook with the net employment rate at 44 percent. ManpowerGroup said that the tourism industry has led the local service sector to expand the service sector's workforce. The financial/insurance/real estate sector came in second with the net employment rate of 41 percent as many financial institutions have been eager to expand their operations overseas. It was ahead of the transportation/public infrastructure sector which had a net employment rate of 38 percent, the retail/wholesale sector whose rate was at 37 percent, the manufacturing sector at 31 percent and the engineering/mining sector at 23 percent, the survey said. The study was conducted in July, and targeted local companies which have no fewer than 10 employees in Taiwan, ManpowerGroup said. (By Chiu Po-sheng and Frances Huang)


Updated : 2021-09-22 10:30 GMT+08:00