'Hiring plans will be more conservative in 2025 Q1'

A human resources company on Thursday said the hiring intentions of local companies will be more conservative in the first quarter of next year, amid a slowdown of the global economy and geopolitical tensions. ManpowerGroup said it interviewed about 500 local employers and around 35 percent thought they would increase staff numbers in the coming three months, while 28 percent said they would need to downsize. A senior vice president with the group, Lancy Chui, said some sectors will face challenges, including goods and services and transport and logistics, due to a change in consumption patterns and tax-related issues. But she said various policies and events will be favourable for some sectors. "The multi-entry visas for Shenzhen residents will be an opportunity. Also, Hong Kong is now promoting a mega event economy. This will stimulate local and tourist consumption. It's also the peak season for festive spending, so it will boost the atmosphere for consumption," Chui said. The company said the employment outlook for the first quarter of next year stands at +6%, marking a two percentage point drop when compared with this quarter.

'Hiring plans will be more conservative in 2025 Q1'

'Hiring plans will be more conservative in 2025 Q1'

'Hiring plans will be more conservative in 2025 Q1'

'Hiring plans will be more conservative in 2025 Q1'

'Hiring plans will be more conservative in 2025 Q1'