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Global recruitment survey shows Chinese job market remains strong

Global recruitment survey shows Chinese job market remains strong

A major survey of employment trends around the globe has shown the Chinese jobs market for managers and professionals is still one of the strongest in the world.

The & lsquo;Global Snapshot’ project from the multi-national recruitment firm, Antal International, asked over 20,000 organisations in major markets across 50 countries whether they were currently recruiting or letting staff go at a managerial and professional level and whether they intended to do so over the coming quarter.

The last quarter has seen further evidence of China’s BRIC status with the percentage of Chinese businesses taking on new staff remaining at an impressive 72% - 21% higher than the global average for the same period. Chinese hiring rates should also remain at this level over the coming three months, offering a positive outlook for those seeking employment in China in the near future.

Looking more closely at China’s job market shows good hiring levels in all sectors in this July’s Snapshot, with the lowest rates still above the halfway mark at 51% for law firms. The greatest degree of recruitment in the last three months has been in the luxury goods sector, in which 86% of companies stated they were hiring new staff at a managerial or professional level. This figure is set to stay high in the following quarter, falling just 6% to a very respectable 80%.

In terms of job cuts this July, the number of Chinese companies letting staff go over the last three months has fallen slightly from 24%, despite predictions in March’s report that this figure would increase to 26%. At 22%, China’s firing rates lie just above the global average at the present time, calculated at 18%.

Elsewhere in Asia other countries have not been fairing as well as China recently. The Philippines, usually a high flier in terms of recruitment figures, has recorded hiring levels of just 51% in this July’s Snapshot. This is a significant 46% decrease from March’s figures and 21% below China.

Returning to the Chinese market once more, things are looking positive for the near future with the level of job losses holding steady in the early twenties, signifying a good degree of job stability for those already employed by Chinese businesses. The lowest firing rates at present are in the banking sector where just 11% of companies are letting staff go.

“In our view the results of the latest Snapshot research do not suggest either any significant improvement in or worsening of the global economic picture,” says Antal’s chairman and CEO, Tony Goodwin..” Instead, we would suggest they indicate that many organisations have now come to accept uncertainty as an unwelcome, but inherent part of business life and are consequently pushing ahead with investment and development in this & lsquo;new normal’. As a consequence, while McKinsey & Co’s notorious & lsquo;war for talent’ may be on indefinite hold in many sectors and disciplines, there is no doubt that it is most definitely raging again over those individuals whose specialist technical skills and entrepreneurial application are key to driving businesses forwards.”


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