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- Improved consumer confidence contributed to a 21% increase in job advertisements
- HR recruitment activity grew during the third quarter by 79%
- Accounting & finance and legal service recruitment up due to multinational companies expanding market share in Korea |
SEOUL, S.KOREA, Dec 13, 2011 - (ACN Newswire) - According to Robert Walters' Asia Job Index, job advertisements in Korea rose by 20% from Q2 to Q3 as confidence amongst both candidates and companies increased. The Robert Walters Asia Job Index tracks advertisement volumes for professional positions across the leading job boards and national newspapers in Korea, Japan, China, Singapore, Hong Kong and Malaysia.
 | | Korea Job Growth Encouraged by Q3 Market Confidence - Robert Walters |
Candidate movement has been particularly strong within Korea, as increasing numbers of job seekers pursue opportunities abroad with international companies whilst a number of employees also look to return from overseas. This movement in turn increased demand for HR professionals, with job advertisements in the sector up 79% during the quarter. Similarly, the increase in international companies setting up new offices in Korea rather than relying on distributors has resulted in an increase in demand for services such as accounting and finance and legal services, up 46% and 17% respectively.
Anthony Modrich, Country Manager of Robert Walters Korea, comments "Korea continues to benefit from interest from international companies and rising candidate confidence. The country remains relatively sheltered from global economic concerns due to the nature of its economy and the outlook is upbeat, although we are mindful of the slowdown experienced by some international companies. In light of this, attrition is likely to replace job creation particularly in disciplines such as accounting and finance."
Other key findings:
Asia Pacific Region: Consistent job levels for Q3 compared to Q2
- Levels of job advertisements remained largely consistent in the second quarter, with companies choosing to hold off on hiring new staff following a strong second quarter
- The financial turmoil in the Eurozone and in the US has inevitably had an impact on international companies, particularly in the financial services sector in regions such as China and Hong Kong
- Accountancy and finance have been impacted and similarly, recruitment within IT services has declined as companies delay implementing new systems until there is greater economic visibility
Japan: Hiring rebounds in Q3
- Levels of job advertisements in Japan rebounded from Q2 to Q3, in part to international expansion plans and renewed business confidence
- Advertisements for roles within medical services increased by 92%, due to changes in pharmaceutical regulation and the launch of new medical products
- Cloud computing and new mobile technology experienced strong recruitment activity, particularly within vendor commerce companies
China: Cautious hiring sentiments as companies review budgets
- Levels of total job advertisements in China in Q3 dipped minimally by 1%. This follows the trend evident in Q2, when the rate of growth in advertising began to slow from previous levels
- This slowdown was driven in part by companies suspending hiring in the wake of headcount reviews and budgetary discussions and employees awaiting end of year bonuses
- Recruitment within IT services and merchandising and purchasing is indicative of this cautious tone, revealing respectively 12% and 4% declines in job advertisements, in these traditionally market sensitive industries
Singapore: Increased recruitment activity in medical and legal services sectors
- The number of jobs advertised in Singapore in Q3 remained largely in line with the previous quarter, growing by 5% over the quarter and by 7% from Q2 to Q3
- Sectors proving more resilient to the economic uncertainty included medical services and legal services, which have seen numbers of job advertisements rise over the quarter by 19% and 17% respectively
- To meet regulatory requirements, pharmaceutical companies continued to invest in clinical assistance, research and development, whilst companies also increased headcount within legal departments to prepare for incoming financial regulations such as Basel 3
Hong Kong: Recruitment activity subdued for Q3
- Recruitment advertising activity in Hong Kong during Q3 slowed down by 2% from July to September following a particularly strong second quarter
- Hong Kong's position as one of the world's leading financial services centres means it has inevitably been affected by ongoing global economic concerns
- Candidate confidence levels are muted with many unwilling to leave current positions to enter an uncertain market
Malaysia: Consumer facing roles in demand
- Due to the uncertain economic outlook, companies have reassessed recruitment needs across a range of sectors such as human resources as well as art and design, resulting in both sectors seeing a fall of 35% over the quarter
- A notable trend for HR was for companies to use the services of recruitment firms like Robert Walters to hire as these positions are generally deemed to be confidential
- Demand for general management roles continues, with job advertisements increasing in sectors such as property management, up 8%, as companies look to hire in- house facility professionals to manage properties
To download the full report, visit www.asiajobindex.com .
About the Asia Job Index
The Robert Walters Asia Job Index was launched with the view of creating a quarterly defacto barometer for the job market across the region by tracking the number of job advertisements in both print and online. Since its inception, the Index has grown in scope and now covers Japan, Korea, Singapore, China, Hong Kong and Malaysia. www.asiajobindex.com
Contact:
Ambrose Lau, PR Specialist
t: +81 (0)3 4570 1513
e: ambrose.lau@robertwalters.co.jp
Topic: Press release summary
Source: Robert Walters
Sectors: Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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