Executive hiring in Asia and other parts of the world

Companies in Asia are reining in executive hiring plans this quarter, even in China’s booming economy, reflecting uncertainty about how an impending global economic slowdown will affect business.

China is facing surging demand for managerial talent to keep pace with fast business expansion, yet only 52 percent of employers polled in a survey by executive search firm Hudson said they planned to increase headcount in the second quarter.

That was down from 61 percent in a similar survey three months ago. The emerging economic powerhouse reported a 10.6 percent surge in first quarter economic growth, yet its export sector would be vulnerable to weakening global demand.

The percentage of companies in China planning to hire was even slightly lower than in Japan, where 41 percent of respondents believed their economy could tip into recession in the next six months. The survey by Chicago-based Hudson Highland Group Inc covered responses from 2,600 managers at multinationals across industries in China, Hong Kong, Japan and Singapore.

Among respondents in Japan, 55 percent said they planned to add staff this quarter, down sharply from 66 percent in the previous quarter. A Reuters survey published showed that confidence among Japanese manufacturers fell to a five-year low this month as a weak dollar, high raw material costs and sluggish domestic demand weigh on business.

Employers in Hong Kong were most upbeat among the four markets, with 57 percent of managers there saying they would hire this quarter, little changed from 58 percent in the previous survey. Growing caution among employers across Asia ex-Japan reflects fears that while the economic environment remains solid it could suddenly shift.

Singapore’s economy jumped 7.2 percent in the first quarter from a year earlier, well above expectations, but 26 percent of Singapore-based respondents in the survey expect the city state to enter into a recession in the next six months. Only 49 percent said they would be hiring this quarter, compared with 51 percent in the previous survey.

Singapore and Hong Kong are seen as particularly vulnerable to a possible recession in the United States, which some economists believe has already begun, because they are small, open economies with significant trade sectors. Jobs prospects for executives in Hong Kong, however, are still good because the territory’s growing integration with China’s economy is creating huge demand for professionals in banking, finance, law and other sectors.

Overall global employment expected to increase by around 40 million:

Overall global employment is expected to increase by around 40 million in 2008 and unemployment by five million.

It has been noted that challenges facing different regions remained relatively unchanged. Not only is there low impact of growth on job creation, but also concern that ongoing growth does not have substantial impact to reduce poverty, especially in the poor regions of the world,

To make long term inroad into unemployment and working poverty, it is essential that periods of high growth are better used to generate more decent and productive jobs. Reducing unemployment and working poverty through creation of such jobs should be viewed as a precondition for sustained economic growth.

Indians top Norway list of skilled workers:

India has become the number one source of foreign skilled professionals working in Norway, with those from other countries faring way behind.

According to Norwegian Immigration Department figures for 2007, Indian skilled professionals constitute one-fourth of the total foreign qualified professionals inducted in Norwegian firms in the given year.

Employed mostly in sectors like IT, petroleum and healthcare, the Indian employees figure stood at 618 the highest from any foreign nation, followed by Russia (254), US (231) and China (205).

Executive hiring in Asia and other parts of the world

Companies in Asia are reining in executive hiring plans this quarter, even in China’s booming economy, reflecting uncertainty about how an impending global economic slowdown will affect business.

China is facing surging demand for managerial talent to keep pace with fast business expansion, yet only 52 percent of employers polled in a survey by executive search firm Hudson said they planned to increase headcount in the second quarter.

That was down from 61 percent in a similar survey three months ago. The emerging economic powerhouse reported a 10.6 percent surge in first quarter economic growth, yet its export sector would be vulnerable to weakening global demand.

The percentage of companies in China planning to hire was even slightly lower than in Japan, where 41 percent of respondents believed their economy could tip into recession in the next six months. The survey by Chicago-based Hudson Highland Group Inc covered responses from 2,600 managers at multinationals across industries in China, Hong Kong, Japan and Singapore.

Among respondents in Japan, 55 percent said they planned to add staff this quarter, down sharply from 66 percent in the previous quarter. A Reuters survey published showed that confidence among Japanese manufacturers fell to a five-year low this month as a weak dollar, high raw material costs and sluggish domestic demand weigh on business.

Employers in Hong Kong were most upbeat among the four markets, with 57 percent of managers there saying they would hire this quarter, little changed from 58 percent in the previous survey. Growing caution among employers across Asia ex-Japan reflects fears that while the economic environment remains solid it could suddenly shift.

Singapore’s economy jumped 7.2 percent in the first quarter from a year earlier, well above expectations, but 26 percent of Singapore-based respondents in the survey expect the city state to enter into a recession in the next six months. Only 49 percent said they would be hiring this quarter, compared with 51 percent in the previous survey.

Singapore and Hong Kong are seen as particularly vulnerable to a possible recession in the United States, which some economists believe has already begun, because they are small, open economies with significant trade sectors. Jobs prospects for executives in Hong Kong, however, are still good because the territory’s growing integration with China’s economy is creating huge demand for professionals in banking, finance, law and other sectors.

Overall global employment expected to increase by around 40 million:

Overall global employment is expected to increase by around 40 million in 2008 and unemployment by five million.

It has been noted that challenges facing different regions remained relatively unchanged. Not only is there low impact of growth on job creation, but also concern that ongoing growth does not have substantial impact to reduce poverty, especially in the poor regions of the world,

To make long term inroad into unemployment and working poverty, it is essential that periods of high growth are better used to generate more decent and productive jobs. Reducing unemployment and working poverty through creation of such jobs should be viewed as a precondition for sustained economic growth.

Indians top Norway list of skilled workers:

India has become the number one source of foreign skilled professionals working in Norway, with those from other countries faring way behind.

According to Norwegian Immigration Department figures for 2007, Indian skilled professionals constitute one-fourth of the total foreign qualified professionals inducted in Norwegian firms in the given year.

Employed mostly in sectors like IT, petroleum and healthcare, the Indian employees figure stood at 618 the highest from any foreign nation, followed by Russia (254), US (231) and China (205).

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