Tan See Leng on hiring prospects amid rising energy and business costs
While the labour market remains resilient for now, businesses have become more cautious in their hiring plans amid heightened uncertainty from the Middle East situation. Based on the Ministry of Manpower’s survey, the proportion of firms intending to hire in the next three months fell from 54.6 per cent in February this year to 44.6 per cent in March. Manpower Minister Tan See Leng, who shared this assessment in reply to MPs’ questions in parliament on Thursday (May 7), said there were early signs of stabilisation in April, with hiring sentiments likely to further stabilise and improve over the longer term.
While the labour market remains resilient for now, businesses have become more cautious in their hiring plans amid heightened uncertainty from the Middle East situation. Based on the Ministry of Manpower’s survey, the proportion of firms intending to hire in the next three months fell from 54.6 per cent in February this year to 44.6 per cent in March. Manpower Minister Tan See Leng, who shared this assessment in reply to MPs’ questions in parliament on Thursday (May 7), said there were early signs of stabilisation in April, with hiring sentiments likely to further stabilise and improve over the longer term.
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