Ministry forecasts job market growth

By Lii Wen  /  Staff reporter

Wed, Mar 04, 2015 - Page 3

The Ministry of Labor yesterday forecast an increase in job openings, with an estimated 45,100 additional jobs to be available by the end of next month.

Ministry officials said that its predictions were based on a survey conducted in January, which compiled results from 3,030 companies nationwide.

The expected job openings will be concentrated in manufacturing industries and the service sector, including more than 5,000 openings in both electronics manufacturing and retail services, followed by 3,400 positions in the accommodation and food sector.

The expected surge in employment opportunities is likely the result of falling crude oil prices as well as growth in the US economy, the ministry said.

Among the companies expecting an increase in job openings, 53 percent said they required additional personnel as a result of increased demand, while 24 percent cited the need to fill vacated positions.

Meanwhile, ministry officials noted that companies may be increasing their workforces in anticipation of stricter labor regulations that stipulate shorter working hours, which are expected to take effect next year. Reforms to cap working hours at 40 per week are still under discussion by the Ministry of Labor, business organizations and labor rights advocates.