Strong business conditions fuel steady jobs growth

• 36% of companies are planning considerable increases to staff numbers
• Most employers expect business conditions to remain positive in the third quarter
• 63% of respondents are seeing professionals return to Hong Kong for the career opportunities

Steady jobs growth is expected to continue across Hong Kong despite ongoing weakness in overseas economies, according to the latest Michael Page Employment Index.

Some 69% of the employers surveyed expect business conditions to remain positive in the third quarter, with 36% also planning considerable increases to staff numbers.

“The pace of jobs growth in Hong Kong has been incredible over the last 6 months. Business conditions are strong and employer confidence is positive, which is why company headcount continues to rise steadily from an already strong base,” said Mr. Anthony Thompson, Managing Director of Michael Page, Hong Kong and Southern China.

Whilst most respondents (50%) believe that the global economic recovery will continue at the current pace, an element of caution remains amongst some employers.

“Of course companies with head offices in the US and Europe are going to be more cautious about recruitment than companies headquartered in Asia. However it is very encouraging to see that for most of the employers we surveyed, conditions in these markets are not currently impacting local hiring activity,” said Mr. Thompson.

Some 63% of the employers surveyed also reported seeing professionals return from overseas because of the strength of the job market in Hong Kong.

“Access to new international talent is a positive spin-off to come from the weaker conditions overseas. It also indicates the perception of Hong Kong as a desirable market within which professionals can progress their careers,” said Mr. Thompson.