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World — Global employment market improving

10 June 2010

The latest 'Global Snapshot' report published by international recruitment firm Antal, based on research among 9,672 companies in Western and Eastern Europe, Africa, India, China and the USA has found that job prospects for professionals and managers continue to improve.

Current hiring across the globe was up from 53% of respondents at the beginning of the year to 54% now. And the percentage of organisations intending to hire in the coming quarter was up from 55% to 58%. The percentage of organisations intending to shed staff had fallen slightly from 28% in the autumn to 22% now. However the general consensus was that this figure would drop to 25% over the coming quarter.

In Western Europe, the highest current hiring levels amongst the larger economies were in the UK (60%), France (53%), and Germany (41%). However many of the smaller countries bettered their larger neighbours, namely Belgium (66%), the Netherlands (63%) and Switzerland (60%).The lowest levels of hiring were in Luxembourg at 29% and Malta at just 6%. More countries in Western Europe had experienced a drop in hiring levels than in any other geographic region.

In Eastern Europe and Eurasia, the highest recruiting levels in this region were in the Ukraine (68%), Russia, (66%), the Czech Republic (61%), Romania (50%), Poland (47%) and Bulgaria (47%). Hungary’s well-documented economic problems meant that it had the lowest level of hiring in the region with only 19% of businesses questioned actively seeking new managers or professionals.

Across the globe the sectors with the highest levels of recruitment at professional and managerial level were banking, engineering, FMCG, IT software and manufacturing. The lowest were shipbuilding, music and entertainment and airlines.

Antal's CEO, Tony Goodwin, said "although some countries, particularly in Western Europe, are still seeing a decline in the employment market, the global picture has definitely improved once again. In the last two editions of Global Snapshot we have hesitated to suggest that a genuine and sustained recovery is underway, wary of the fact that more unpleasant surprises might still be announced by the banking community."

"However the fact that this industry now tops the list of the world's most active sectors gives us the confidence to predict that a double dip recession is now unlikely to take place. As a result the nascent war for talent that has already broken out is likely to become fiercer over the next few months, as the most prescient businesses snap up the people who will enable them to secure best advantage in improving markets."

To read the full report please click here



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