One third of companies bullish on new hirings

More than one third of employers in Hong Kong plan to increase manpower in the next three months, according to a survey by local headhunter ManpowerGroup.

The survey of 525 companies found that 37 percent are planning to increase payrolls in the third quarter.

This is attributed to rising cross-border spending and "the global recession."

However, 29 percent of respondents anticipated a decrease in payrolls, 32 percent forecasted no change, and 2 percent were uncertain.

The employment outlook poll covered 42 countries and regions worldwide, with a total of 40,374 firms surveyed.

The city's seasonally adjusted employment outlook stood at 8 percent, down seven percentage points over the second quarter and 14 percentage points below the global average.

Local employers have the weakest hiring intentions across the Asia-Pacific, followed by Japan's at 12 percent.

"This shift in hiring intentions is influenced by the ongoing decline in the international economic environment and the gradual shift of local consumption patterns toward the mainland market," said senior vice president Lancy Chui Yuk-shan. "As a result, the overall economic environment in Hong Kong is facing pressures, prompting employers to exercise greater prudence when it comes to hiring additional staff."

The information technology sector is the most optimistic, with a net employment outlook of 32 percent.

"This is driven by the widespread adoption of AI technology, leading to growing demand for skilled professionals in areas like AI, machine learning, and big data," she said.

The transport, logistics and automotive sector has the lowest net employment outlook at negative 17 percent, due to intense competition and international trade rows, ManpowerGroup said, making its firms more cautious in hiring.

Of all companies polled, 52 percent have already adopted Al tools, and 25 percent plan to implement the technology within the next year, according to its latest artificial intelligence usage survey.

Chui said an increasing number of IT companies are incorporating AI into their business given that Al workflow automation can automate repetitive tasks.

Sectors reporting a positive outlook include health care and life sciences, communication services, financials and real estate, industrials and materials, and consumer goods and services.

Chui expressed hope that mega events and the individual visit scheme will bring brighter job prospects and stimulate hiring intentions in related industries.