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World - Job markets stabilise

08 July 2011

Employment markets around the world appear to be finally stabilising, according to the latest 'Global Snapshot' survey published by staffing agency Antal International.

In June 2011, hiring levels across the globe were up slightly with 52% of employers recruiting at professional and managerial level in comparison with 50% in February. 52% was also the percentage of organisations which intended to hire in the coming quarter.

The rate of attrition was slightly up from 16% in February to 17% in June and this was expected to remain stable over the next three months.
Western Europe
The highest current hiring levels were in the UK (61%), France (59%) and Belgium (55%). The lowest levels recorded were in Portugal at 28% and Austria with just 19%.
Eastern Europe and Eurasia
The highest recruiting levels in this region were recorded in Turkey (71%), Russia (66%) and Slovakia (58%). The lowest was recorded in Hungary where 43% were taking on staff at professional and managerial level. However this was a marked improvement in the country's performance in February when only 30% were hiring, reflecting the continuing strength of the region as a whole.
Middle East
Despite recent unrest in the region, the overall employment situation for professionals and managers has improved since the last Snapshot. Current levels of hiring have exceeded the expectations of February when only 46% of businesses intended to hire, 67% of companies are actually hiring now.
In the continent's most high profile economy, South Africa, hiring levels are down by -10% on last quarter although the percentage of businesses shedding staff has also dropped by 6% to just 11% and is set to fall to 8% in the next three months.
The Philippines recorded the highest levels of hiring activity with a staggering 98% of respondents recruiting. China scored 70% and India 69%. The lowest level of hiring was in Singapore where only 29% of organisations were hiring professionals or managers.
The Americas
The highest levels of hiring activity were recorded in Latin America – Argentina (73%) and Brazil (67%).

Hiring activity is down in Australia from 79% in February to 61% now, although the percentage of businesses shedding staff remains relatively low at just 24%.
Forecasts for the coming quarter
The most active region in the coming quarter looks set to be the Middle East where 68% of organisations surveyed planned to take on professional or managerial staff. The quietest is likely to be Western Europe where only 39% of businesses intend to increase headcount.
The busiest sectors around the globe in the next three months look likely to be healthcare, services, the legal profession, social media consultancy, IT hardware and software.

Antal's CEO and Chairman, Tony Goodwin, commented "the last Antal International Global Snapshot indicated a long-anticipated return to stability in global markets. This edition of the survey confirms that stability. The overall results are almost exactly those predicted by the last report with 52% of organisations around the world taking on professional and managerial staff and only 17% reducing headcounts."
"However, while in February the Americas had overtaken Asia-Pacific as the area with the greatest demand for professionals and managers, the situation is now reversed with 64% of businesses now hiring across the region. It's a clear example of the continuing oscillation of economic power between the two superpowers."


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