Job outlook for Second Quarter 2010 generally positive in Asia-Pacific, says JobStreet.com
16 April 2010 – JobStreet.com releases its Regional Job Outlook Report for the Asia-Pacific region, for the Second Quarter of 2010, with most respondents generally feeling positive about the job outlook, although differences did exist from country to country.
The Job Outlook Index, as measured by JobStreet.com, looks at the expectations of job growth (or employment prospects) in the industries on a quarterly basis. A higher index means that the industries are creating jobs and employment, while a lower index means the reverse with lesser jobs on offer.
Regional Job Outlook Index: For the Second Quarter of 2010, most countries in the Asia-Pacific region registered Job Outlook Index points upwards of 60, with both Malaysia and Indonesia registering 65 points, Singapore 69 points, and the Philippines coming in with 64 points. Only Thailand registered a less enthusiastic 58 points, perhaps due to the political turmoil that has been occurring in Bangkok.
Job Growth or Employment Prospects: When it comes to the general job outlook, respondents in most countries in the region were positive, with 60 percent of both Malaysian and Indonesian respondents saying it would be better for the next 12 months. Meanwhile, 68 percent of Singaporean respondents answered similarly, but only 55 percent answered in the affirmative. And again, as an indication of the effects of the current political turbulence in Bangkok, only 49 percent of respondents in Thailand were optimistic.
Bottoming Out: Respondents were rather divided when it comes to the question of whether their national economies had hit the bottom, with Malaysians and Singaporeans opining that it had done so (36 percent and 51 percent respectively), but only 25 percent of Filipinos having the same sentiment. Elsewhere, both Indonesians and Thais were pessimistic, with just 16 percent of respondents in both countries saying that their national economies had bottomed out.
Slowdown Effects: When asked about how soon their national economies will be free from the effects of the current economic slowdown, most respondents were convinced that it will take another 6 months. This is true of 35 percent of Malaysian and 47 percent of Singaporean respondents, who answered so, while 28 percent of Thai respondents thought likewise. Meanwhile, respondents in the Philippines and Indonesia were more guarded, with only 24 percent and 26 percent respectively saying it will take 6 months for their national economies to recover.
Possible Hiring Activities: Most employers were still wary when it comes to hiring activities, with most positive responses falling below the 20 percent mark. Only 28 percent of Malaysian employers said they will be expanding their hire rate for the next 12 months, while 25 percent of Singaporean employers answered similarly. Meanwhile, employers in other countries shared similar sentiments, with 25 percent of Filipino employers, 21 percent of Indonesian employers and 22 percent of Thai employers all keeping their hire rate in check for the next 12 months.
Note: JobStreet.com clients, managers and senior managers across various industries in Malaysia, Singapore, the Philippines, Indonesia and Thailand participated in this survey in April 2010.