Employers in Hong Kong are expected to increase hiring in the first quarter of 2008, with an increase of 3 percentage points compared to the previous quarter.

According to the employment outlook survey conducted by recruitment consultant Manpower, 27% of employers in Hong Kong show optimism to increase hiring in the first quarter of 2008, with an increase of 8 percentage points compared to the first quarter of 2007. The majority of employers (67%) expect no change in hiring whereas only 2% expect to reduce workforce.

General Manager of Manpower Ms Lancy Chui says, “ With the government's promised 10 new infrastructure projects over the coming five years, sectors such as Construction and Real Estate should continue to report strong job prospects.” The survey shows that employers in only two industry sectors repor marginally weaker hiring activity compared to the previous quarter. In Mining and Construction, an increase of 13% is reported, which is 2 percentage points weaker from the previous quarter. In Services sector, an increase of 28% is reported, which is 6 percentage points lower than the previous quarter.

Employers in Finance, Insurance and Real Estate show the highest hiring intentions, with an increase of 46%, up 17 percentage points compared to the previous quarter and 21 percentage points compared to the first quarter of 2007. All remaining industry sectors (Manufacturing, Transportation & Utilities, and Wholesale & Retail Trade) reported an increase in hiring next year.

This survey has interviewed 811 employers in Hong Kong and 52,000 employers worldwide to forecast employer hiring intentions.