Taiwan reports 2nd most positive outlook among 44 countries for hiring in 2Q of 2018

The ManPower Groups's survey on employment outlook, shows Taiwan following Croatia, and just ahead of Japan in the second quarter of 2018

(Image from Pixabay user VISHNU_KV, modified)

(Image from Pixabay user VISHNU_KV, modified)

TAIPEI (Taiwan News) – The Manpower Group released its most recent survey data on global hiring trends and expectations towards hiring in the second quarter (2Q) of 2018.

Among businesses in 44 countries surveyed, business in all but one country expect to add staff over the next three months, with the greatest optimism for new hiring found in in Croatia, followed closely by Taiwan in the number two spot.

While the general outlook for jobseekers across the globe looks increasingly positive, surveys suggest the U.S., Asia-Pacific, and Northern Europe are the regions where employment outlook is the most optimistic.

The report suggests that with the current rapid advances in technology, more job openings are being made available by companies that are capable of balancing technology, human talent, and social connectivity.

The Manpower Group Press release states that “ Of Over 59,000 employers surveyed across 44 countries and territories, confidence levels have strengthened year-on-year in 25 countries, weakened in 13, and remained the same in five.”

Confidence levels appear to be on the rise in Taiwan, as the government aims to promote the innovative “5+2” plan for strategic development, and pursues the dual goal of becoming a model “smart” and “green” society over the coming decades.

According to the survey data, Taiwan’s optimism towards hiring in 2Q is expressed as a score of (+26 percent), second to only Croatia (+29 percent), and followed by Japan (+24 percent).

According to the report, Taiwanese job seekers will benefit from the strongest hiring pace in 2Q 2018, with 30 percent of 1,036 companies surveyed expecting to increase their staff over the next three months. Companies anticipating no change were 64 percent of the total, and only 3 percent are expecting a decrease in employees.

The report says that Finance, Insurance, and Real Estate sector have the strongest outlook (+32 percent), citing the New Southbound Policy and the foothold Taiwanese banks have made in Southeast Asian countries as a major reason for the sector’s strong hiring outlook.

The manufacturing sector also remains healthy with a score of (+28 percent), however some uncertainties, namely U.S trade policies, and shifting monetary policies across the globe, that may slow growth in the sector over the coming year.

The Services sector remains stable and prosperous, also with a score of (+28 percent) for hiring prospects, evidencing a six percent increase over the same quarter of 2017.

Mining and Construction report an outlook of (+26 percent) and the number appears to be improving considerably both quarter-over-quarter and year-over-year.

Numbers for wholesale and retail hiring outlook were reported at (+26 percent) for 2Q, with a moderate increase of three percent over the previous quarter, and previous year.

The two sectors that appear to be the least optimistic for hiring new employees and expanding operations are the Transportation and Utilities sector, and the Leisure and Hospitality sector.

The Transportation and Utilities sector (+21 percent) shows a decline over the previous quarter, but is still 7 percent higher than the outlook for 2Q, 2017. Meanwhile the Leisure and Hospitality sector has remained stable over previous quarters, but does not appear to be showing much momentum for expansion over the next three months.

Among the generally positive hiring trends expressed for the Asia-Pacific Region, the country that expressed the most caution was China (+8 percent), where companies have shown only a minor increase in optimism towards hiring over the past three consecutive quarters.

For the full report from the Manpower Group, along with individual country reports, go to the official website.

Taiwan's recorded hiring outlook since 2013 (Image from the Manpower Group Report)