Booming Asia’s talent thirst

 

 

Despite of the uncertainties in global economy caused by the eurozone sovereign debt crisis and the unsteady US economic recovery, the recruitment needs in Asia do not come to a halt. As the matter of fact, Asia has never stopped looking for talents to join this dynamic market, be it the IT, engineering, finance or the upcoming trend of new energy industry… Asia is expending its labour force as well as its recruitment market. Want to share a slice of the cake? Here are a few things about the hiring trend in the East that you should know.

The recruitment market in the East has fully recovered from the financial tsunami, neglecting the fact that the West is still dragging themselves out of the shadow slowly. The labour market in Asia has rebounded strongly thanks to the massive fiscal and monetary stimuli initiated by the regional large economies such as China and Singapore. These stimuli not only helped in restoring consumers’ and investors’ confidence, but also in booming the intra-Asian trade. Trading is always an indicator of a country’s wealth. Strong economic bodies will never rely on imported goods. Instead, exporting goods is their main source of revenue, let alone the job opportunities it creates.

In the East, the services sector has always been the main driver of employment growth in recent years. As indicated in a report conducted by the International Labour Office, the total employment in the service sector rose from 33.9% to 35.3% two years ago. The phenomenon was even more prominent in the South East Asia where the employment in the service sector grew by 1% to 30% in 2009. It contrasts with the findings on the industrial sector, which suffers from a decline from 18% to 17.8%. It is not difficult to realize that Asia has already transformed from an industrial hub to an economic body which stresses on service-providing successfully.

Base on the above findings, one can easily explains on the booming of retail industry in Asia, especially in China. The strong economy supports the consumers’ purchasing power which in turn stimulates the growth of retail industry and other related business such as advertising and marketing, thus boosting the needs in recruitment market. Digital marketing is another related field to be noticed. As the prevalence of online activities and the usage portable online devices have wide spread from the West to the East, experienced staff in managerial level is hot pick in these novel fields. Look out for opportunities in these fields!

Sounds optimistic in the Asian recruitment market? Sad but it’s true that there are still a few concerns in the East. The restless global tensions upon monetary policy and exchange rates elevate the risk of intensive protectionism, which could have critical impact on trading and investment. Correspondingly, it will have a pernicious effect on the Asian job market. Export-related industry will be the first to bear the brunt. Cautiously make your decision on hiring and being hired keep you happy and safe in the enormous job market in Asia.

(c)2011. Faro Recruitment Group

 

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