Growth in manpower demand for Q3 to hit 3-year high

2018/06/09 15:50:38 fontsize-small fontsize-default fontsize-big
Growth in manpower demand for Q3 to hit 3-year high

Taipei, June 9 (CNA) Growth in manpower demand in Taiwan for the third quarter of this year is expected to hit a three-year high as the economy at home and abroad remains on the path to recovery, according to the Ministry of Labor (MOL).

Citing a survey, the MOL said it is expected that manpower demand for the July-September period will increase 47,300 from a quarter earlier, the highest growth since the third quarter of 2015.

According to the MOL, the growth in demand resulted from natural attrition in companies, the needs arising from business expansion, and an improvement in working conditions, which means more time off for workers and therefore a need for more staff to work the shifts.

Of the 3,168 valid questionnaires collected, 27.8 percent of the employers surveyed said they are planning to raise their workforce in the third quarter and 2.76 percent said they will reduce their manpower, while 63.24 percent said their workforces will remain the same in the quarter, the MOL said.

Those businesses which want to launch recruitment campaigns need 51,500 newcomers and other companies are planning to cut the number of their employees by 4,200 in the third quarter, the survey showed.

The figures translated into a net manpower demand growth for the July-September period of 47,300, the MOL said.

The latest manpower growth survey by the government agency came in line with the recently released data from online 1111 job bank, which said the number of new job openings listed on its website as of the end of May rose by about 10 percent from a year earlier.

The MOL data showed an improvement in the local job market, with the jobless rate for April falling to 3.64 percent from March's 3.66 percent due to a continued economic recovery.

In late May, the Directorate General of Budget, Accounting and Statistics (DGBAS) upgraded its growth forecast for Taiwan's 2018 gross domestic product (GDP) by 0.18 percentage points to 2.60 percent after a strong showing in the first quarter.

In addition to a growing economy, an increase in new technology applications worldwide and an approaching tourism peak season also prompted employers to plan a larger workforce in the third quarter, the MOL said.

It added that the local manufacturing sector is expecting a net manpower demand increase of 22,500 in the third quarter, with a net growth of 4,400 from the electronics component industry, followed by a net increase of 7,000 from the retail/wholesale sector, and a net increase of 4,900 from the lodging and food/beverage sector.

The survey, the second quarterly poll by the MOL for this year, was conducted during the period from April 23 to May 11. It targeted companies with 30 employees or more, according to the MOL.

(By Yu Hsiao-han and Frances Huang)
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