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Taiwan firms cautious about hiring in Q1 2016: poll

Taiwan firms cautious about hiring in Q1 2016: poll

Employers in Taiwan are cautious about hiring in the first quarter of next year amid a sluggish domestic economy and slow global demand, according to the U.S.-based human resources advisory firm ManpowerGroup.

Taiwan's net employment outlook for the first quarter of next year is 29 percent, a 6 percentage point drop from the current quarter and 15 percentage points lower than in the first quarter of 2015, ManpowerGroup said, citing a recent survey.

The poll, which reflects hiring confidence among employers, calculated the net employment outlook after seasonal adjustments by subtracting the percentage of employers anticipating a decline in total employment from the percentage expecting to see an increase.

The survey showed that only 26 percent of employers in Taiwan intend to hire new employees in the first quarter of 2016, a 14 percentage point quarterly decline.

The percentage of employers who intend to cut their workforce, however, remained unchanged from the current quarter at 5 percent, while 65 percent plan to maintain their current workforce, a 12 percentage point quarterly increase, according to the poll.

After seasonal adjustments, the net employment outlook for the first quarter of 2016 was calculated at 29 percent, the lowest since the first quarter of 2010, ManpowerGroup said.

Allen Ng, a manager at the group, said employers in Taiwan tend not to hire until after the Lunar New Year holiday and they usually assess the local economic climate before making any hiring plans. The upcoming Lunar New Year holiday will fall in February.

Among the six major business sectors in Taiwan, the financial/insurance/real estate sector has the highest first-quarter net employment outlook at of 43 percent, up by a quarterly 2 percentage points, according to the poll.

While it was the only quarterly increase seen among the six sectors, it was 6 percentage points lower year-on-year, the poll showed. The other five major sectors polled were manufacturing, mining/construction, service, transportation/utility, and wholesale/retail.

Ng said that the first quarter is a usually a peak period for recruitment in the financial sector, which is now eager to hire new workers since the government is encouraging local financial firms to expand to take on the regional competition.

In the service sector, the first-quarter net employment outlook is 31 percent, down 11 percentage points sequentially and 20 percentage points year-on-year, the survey showed.

Nonetheless, the service sector is likely to need more application program engineers, data analysts and digital marketing specialists as e-commerce continues to boom, Ng said. (By Chiu Po-sheng and Frances Huang)

Updated : 2021-09-28 22:42 GMT+08:00