A woman (center) walks through the central business district in Hong Kong on March 1, 2023. (PHOTO / AFP)

Hong Kong companies plan to hire more employees from July to September, according to the results of the ManpowerGroup Employment Outlook Survey released on Tuesday.

Surveying a total of 38,849 employers across 41 countries and regions globally, the study found that all territories exhibit a favorable outlook towards hiring. The Global Net Employment Outlook index has risen to 28 percentage points, which is a 5 percent increase from the previous quarter.

The Net Employment Outlook Index is calculated based on the difference between the proportion of employers who anticipate a rise in hiring activity and those who anticipate a decline in hiring activity.

Lancy Chui, senior vice-president at ManpowerGroup Greater China Ltd, said that the recovery of Hong Kong's economy, "coupled with an increase in the number of tourists visiting Hong Kong, has led to a more favorable labor market outlook and improved hiring prospects"

Among the 532 employers in Hong Kong who were surveyed, 47 percent anticipate a rise in their payrolls, while 14 percent foresee a decline, and 37 percent expect no change. As a result, the net employment index for Hong Kong is at 33 percentage points. Hong Kong employers are optimistic about the hiring climate, with an employment outlook that is 5 percent higher than the global average. Hong Kong’s net employment index surged 3 percent from the previous quarter and 22 percent from the same period last year.

The seasonally adjusted unemployment rate in Hong Kong stood at 3 percent from March to May this year, the same as for February to April, according to government statistics.

Lancy Chui, senior vice-president at ManpowerGroup Greater China Ltd, said that the recovery of Hong Kong's economy, "coupled with an increase in the number of tourists visiting Hong Kong, has led to a more favorable labor market outlook and improved hiring prospects." 

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The index numbers for main sectors in Hong Kong are positive and two-digit, ranging from 19 percentage points for healthcare and life science to 49 percentage points for transport, logistics, automotive and communication services.

Employers in the transport, logistics, automotive and communication services sectors expressed positive hiring intentions for the next quarter. The Net Employment Outlook for these sectors is 49 percentage points and 48 percentage points, respectively, which is 28 percent higher than the previous quarter and 49 percent higher than the index last year.

“The aviation industry is gradually returning to normal operations. In April, the average number of flights per day returned to 60 percent of pre-pandemic levels. As the summer travel season approaches, the industry’s recovery and the expansion of its service network is anticipated to attract more employers seeking to recruit more talent,” she mentioned.

Employers in the finance and real estate sector are expecting a favorable hiring climate for the upcoming quarter, as indicated by their Net Employment Outlook of 47 percentage points - a 6 percent increase from the previous quarter and a 26 percent increase from the index of the same period last year.

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“The recent regulations for virtual asset management have accelerated digital finance, driving local trading platforms to expand their workforce, and attracted foreign companies to Hong Kong. Meanwhile, the growing demand for ESG sustainable investment practices in Hong Kong motivates employers to hire professionals to support their sustainable investment strategies and initiatives,” she added.