Taiwan hiring outlook for Q2 highest worldwide

Taipei--Taiwan's hiring outlook for the second quarter of this year is the most optimistic in the world with the local financial sector showing strong willingness to recruit new talent, according to U.S.-based human resources advisory firm ManpowerGroup.

In its latest employment outlook survey, ManpowerGroup said that Taiwan's net hiring outlook stood at 24 percent for the April-June period, ahead of Japan with 23 percent, the second highest level among the 43 countries and regions.

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 about 29 percent of the 1,004 employers polled in Taiwan said they planned to expand their workforce during the April-June period, while 5 percent said that they would cut jobs, and about 64 percent said they expect the size of their workforce to remain the same.

After seasonal adjustments, the net employment outlook for the second quarter of 2017 was unchanged from the first quarter but up from 21 percent over the same period of last year, as employers in Taiwan's major sectors indicated that they planned to hire new staff, ManpowerGroup said.

In the Asia Pacific region, Taiwan took a clear lead in the employment outlook ranking ahead of Japan and India (18 percent), while China was at the bottom of the rankings in the region with 4 percent, the advisory firm said.

The net employment outlook of the local financial/insurance/real estate sector for the April-June period rose from 25 percent to 35 percent, a new high in one year, the survey showed.

ManpowerGroup said while the local property market remains slow, there have been signs of an improvement in the financial business, prompting financial holding firms to expand their workforce, in particular in digital engineering and financial management.

The net employment outlook of the local manufacturing sector for the second quarter remained unchanged at 26 percent from a quarter earlier, while the net hiring outlook of the local construction/mining sector fell to 14 percent from 16 percent, according to the survey.

The survey showed that the net employment outlook of the services sector for the second quarter fell to 21 percent from 24 percent in the first quarter, while the figure of the transportation/warehousing/communication/utilities sector also dropped to 14 percent from 25 percent.

After the government implemented the rigid new work rules in December, the survey said, about 28 percent of the employers polled said that they have been lowering overtime working hours to meet the new requirements, while 18 percent of them said that they were planning to hire new employees.

The new work regulations cut the weekly working hours for workers and scaled back flexibility for the management and employees to arrange working schedule, requiring companies to pay more for overtime.

Source: Focus Taiwan News Channel