14% growth in the number of job advertisements in Q1 2016

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The number of job advertisements in Hong Kong in the first quarter grew 14% from a year ago, according to our Asia Job Index Q1 2016 research, indicating a strong demand for top talent despite market concerns. 

“Compared to a relatively steady job market in the first half of 2015, companies were more active in hiring in Q1 2016 and this led to the healthy year-on-year growth in the number of job advertisements. Despite the slowdown in certain areas such as retail, hospitality and construction, organisations in most sectors continued to look for strong talent, particularly for business critical functions such as finance, compliance and IT. Looking ahead, we expect market sentiment to remain cautious yet positive. With Hong Kong being a confidence-based economy, there might be further uplift in hiring in the second half of the year if the global economy is able to sustain its growth," commented Matthew Bennett, Managing Director - Greater China, Robert Walters.

Key findings

  • HR job advertising grew a significant 48% from Q1 2015 as companies sought to take previously outsourced functions back in-house. This led to a strong demand for HR professionals in areas such as recruitment, training and development.
  • Legal and compliance job advertising saw annual growth of 28% as banks continued to grow their compliance functions and buy-side firms continued to develop their internal compliance capability due to increasing regulatory pressure.
  • IT professionals remained in demand with a 19% year-on-year increase in the number of job advertisements. The market remained candidate-short, particularly for professionals with experience in growth areas such as FinTech, e-commerce and IT security.

Click to read the full Asia Job Index Q1 2016 Report.

Growth in other Asian regions

China: Some tightening in the job market due to a cautious view towards the economy, however the services industry remains the key engine for growth.

Malaysia: Growth in technology, sales and marketing driven by the popularity of e-commerce and consumerism.

Singapore: Hiring demands within the digital, e-commerce and cyber security sectors remains strong, however caution in the market causes delays in hiring decisions.

Taiwan: Stable business outlook and entrance of international SMEs support job market growth.

Click to read the full Asia Job Index Q1 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 executive 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 more hiring advice, contact us now and speak with one of our specialist recruitment consultants.

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