1st Asia Job Index launched by Robert Walters

The Robert Walters Asia Job Index is regarded an important regional economic barometer, with employment advertising being a key indicator of future hiring.

Job advertisements placed in the second quarter of 2008 grew by 3 per cent to 474,308 in Hong Kong, the second successive quarterly rise, but slipped by 9 per cent to 214,999 in Singapore.

The figures suggest that employment growth in Hong Kong is being underpinned by its proximity to China, whilst in Singapore, a more cautious approach to hiring by the major banks resulted in a slight drop off in recruitment advertising during Q2. Although, in both markets, international banks have slowed their recruitment activity, there remains broad multi-sectoral strength, with notable recruitment activity increases in IT and telecommunications, and within the sales and marketing functions of bigger companies.

KEY FINDINGS:

• Total job advertisements posted in Hong Kong in Q2 2008 3% higher than Q1 2008

• Total job advertisements posted in Singapore in Q2 2008 9% lower than Q1 2008

• Accountants in Demand: Chinese companies listing overseas, foreign companies listing in China

• International banking currently the most cautious with regard to recruitment

• Banks serving local and SME markets actively recruiting

• IT personnel in strong demand

• Brands looking to capitalise on China growth - sales & marketing, telecoms and HR roles in demand

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