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Companies' willingness to hire in Q1 drops to 4-year-low: survey

Companies' willingness to hire in Q1 drops to 4-year-low: survey

Only 53 percent of local businesses intend to hire new employees in the first quarter of 2016, a lower percentage than for the same period over the past four years, according to the results of a survey released Tuesday.

The figure, down 12 percentage points from the fourth quarter of 2015, reflected growing reluctance among companies to recruit new people amid a sluggish economy.

The survey, conducted by online job broker 1111 Job Bank, also found that companies are most likely to hire new employees to fill vacancies left by former employees (38.4 percent), and as part of routine recruiting efforts (34.9 percent).

Companies in the service, environmental and technology sectors showed the greatest willingness to recruit new staff in the coming quarter, the survey found.

Daniel Lee, vice president of the 1111 Job Bank, said the slow economy across the globe was to blame for the tepid interest in increasing workforces.

The rise of the "red supply chain" -- the fast-growing cluster of Chinese parts makers cultivated by the Chinese government -- also had a negative impact on local industries.

The survey was conducted via phone interviews among 589 corporate members of the job bank from Dec. 1 to 18. (By Chiu Po-sheng and Lee Hsin-Yin)

Updated : 2021-09-20 23:06 GMT+08:00