Labour Market News
- More banks plan to hire new staff in 2Q
Date: 8-May-2007 Sources: (Shenzhen Daily)
THE opening up of China's banking system to foreign lenders will lead to an increase in recruitment in the sector during the second quarter, according to a quarterly survey published last week by Hudson, a recruitment company.
Three-quarters of respondents in the sector said they would increase headcount during the quarter. Hudson said China's decision to allow foreign banks to enter the lucrative retail yuan business since April has created strong demand for new staff.
Taking into account all the sectors in the survey, hiring expectations in China remained the highest of the Asian economies in the Hudson survey, helped by its fast-growing economy.
Of the 700-plus employers polled in the Chinese survey, 61 percent of respondents said they plan to recruit additional permanent staff in the three months ending June, up from 59 percent in the first quarter.
The other markets Hudson polled were Hong Kong, Japan and Singapore.
Employment expectations picked up in Japan on demand from the financial, legal and information technology sectors, the company said. In a survey of 523 Japanese employers, 59 percent of respondents said they were planning to add permanent staff in the second quarter, up from 57 percent in the previous quarter.
More Hong Kong employers also said they intend to hire additional permanent staff, edging up to 56 percent in the quarter from 54 percent in the previous quarter.
Expectations among Singaporean employers remained stable at 56 percent, with the information technology sector the only one that intends to hire new staff, according to the survey.
Hudson is the corporate brand of New York-based Hudson Highland Group Inc.
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