Advertising for professional positions across Asia in Q3 2009 showed the most significant increase for almost a year, with the number of advertisements at levels not seen since October 2008. This according to the Asia Job Index recently published by Robert Walters. The findings suggest that in some parts of Asia, commercial activity is picking up. In some cases, the increase in job advertising can also be attributed to
Matthew Bennett, Managing Director, Robert Walters, Hong Kong commented, “While the earlier part of the year was all about looking at ways to generate revenue in a difficult market, there is now a need to ensure the right level of support and infrastructure, in anticipation of commercial conditions improving…So we are certainly not seeing the market becoming candidate driven.”
The total number of job advertisements placed in Q3 was up by nearly 22% compared with the previous quarter, with the main driver being China. Between July and September, the number of advertisements placed in China increased by over 31%, likely driven by an uplift in activity across a range of sectors—principally retail.
Hong Kong and Singapore both saw similar increases in Q3 of around 13%. In contrast, the significant rise in unemployment in Japan during the year and a very strong Yen caused many organisations to cut back on recruitment advertising, and it only increased by 2.6%. Given that in Hong Kong, Singapore and Japan, Q3, especially August tends to be less busy as many decision makers take holiday leave, these increases are even more encouraging.
In Hong Kong, the stock market has continued its upward direction and property prices have increased significantly. Both of these are reflected in higher numbers of advertisements placed for risk managers, compliance officers, surveyors and architects. In contrast, the more fundamental economic indicators such as shipping and retail sales are still contracting and unemployment continues to rise. Nevertheless, consumers are spending, which explains the increase in demand for roles in purchasing, merchandising and logistics. Candidates in IT were also in higher demand as banks, in particular, began implementing new systems and trading platforms.
HR professionals were less in demand: there is less cost cutting going on than previously, so specialists in running redundancy programmes are not being recruited as they were previously. In accountancy and finance, the impact of the August holiday period was most noticeable. Unlike last year, decision makers in these areas took their full holiday entitlement leading to a lower number of advertisements.
Paul Arkwright
Publisher
