Robert Walters, the international recruitment consultancy, today publishes its Asia Job Index for the third quarter of 2008. The Robert Walters Asia Job Index tracks advertisement volumes for professional positions across the leading job boards and national newspapers in Hong Kong and Singapore.
KEY FINDINGS:
- Total job advertisements posted in Hong Kong in Q3 2008 8.5% lower than Q2 2008
- Total job advertisements posted in Singapore in Q3 2008 10.2% lower than Q2 2008
- Reduced advertising spend a direct result of a focus on cost management across many sectors
- Increasing prevalence of contract hiring
- Emphasis on recruitment of sales-focused candidates who will aggressively drive revenues
- IT personnel continue to be in strong demand with Singapore businesses in particular continuing to implement complex IT projects
- Organisations of all types still strongly committed to growing operations in Asia-Pacific region
Mark Ellwood, Managing Director at Robert Walters in Singapore, comments: "The Singapore economy has so far held up relatively well year to date in light of the global economic challenges. However, it was the first Asian country to announce it is in a technical recession so it is no surprise to see a reduction in the number of jobs advertised in the 3rd quarter. Despite this, there is still demand for high quality candidates as good talent is always hard to find. The financial services sector has certainly been affected and organizations are focusing on costs which will continue into next year but opportunities for talented middle management professionals will still remain."
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