Asia Job Index Q2 2016

asia-job-index

New research from our Asia Job Index Q2 2016 revealed the overall annual growth in job advertisements in Singapore was pegged at 6% for Q2 2016.

According to Toby Fowlston, managing director of Robert Walters in Southeast Asia, the growth in job advertisements was reflective of the recruitment market in Singapore.

"Despite a slowdown in export and investment, the growth in tourism and increased public spending on major infrastructure projects drove hiring in engineering, as well as corporate functions such as finance and marketing," he said.

He added that with Southeast Asia remaining a key growth area for many multinational corporations, Singapore will continue to be a gateway to companies looking to enter and expand in the region. 

Key findings: 

  • IT professionals remained highly sought after, with job volumes up 19% year-on-year. Along with an increase in cyber security, project and programme management roles, there were also more technical sales opportunities.
  • Singapore’s position as a key business hub attracted companies to set up regional offices in the country, such as accounting and finance. This resulted in a 6% growth in advertised jobs in the sector.
  • As companies offshored lower-level administrative roles to cheaper locations, there were fewer new headcount positions and this resulted in a 24% decline in the number of administrative job advertisements from a year ago. 

Click here to read the full Asia Job Index Q2 2016 report.

Job growth in other Asian regions in Q2 2016:
 

China: After a period of uncertainty around a slowing Chinese economy, particularly the decline in manufacturing, the market is gradually adjusting to the country’s new growth mode with confidence returning to the recruitment market. 

Hong Kong: Hiring demands within the legal & compliance and human resources sectors remained strong. However, caution in the market caused delays in hiring decisions. 

Malaysia: The contraction in Malaysia’s oil and gas industry had a knock-on effect on other sectors. This resulted in companies scaling back expansion plans and candidates were more careful in making a move. 

Taiwan: Much of the hiring was replacement-based with companies focused on upskilling and recruiting candidates who can add value to the business. There were new headcount positions created in industries with sustained growth, such as IT and software.

Click here to read the full Asia Job Index Q2 2016 report. 

About the Asia Job Index 

The Robert Walters Asia Job Index tracks the number of job advertisements on a daily basis across the appointments sections of key newspapers and leading online job boards in China, Hong Kong, Malaysia, Singapore and Taiwan.

Released on a quarterly basis, the report provides an indicative summary of recruitment activity being experienced across major regional markets as well as key industry comparisons.

For further information or interview requests, please contact Rachel Chan on rachel-mk.chan@robertwalters.com.sg or +65 6228 6016.

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