The number of white-collar job vacancies have been increasing throughout Asia during the fourth quarter of 2021 ended December 2021, amid a climbing corporate appetite for hiring, and the continuing impact of Covid-19 on the jobs market. This is according to JAC Recruitment’s latest research.

In Singapore, the recruitment market showed signs of recovery amid a high rate of GDP growth. In the fourth quarter of 2021, Singapore’s job vacancies increased on a year-on-year basis amid growing demand by companies seeking to add new employees and to fill positions left vacant due to retirements, despite prevailing concerns regarding potential consequences of the Omicron variant. The number of job vacancies were 32% up when compared to Q4 2020 but 10% lower than the previous quarter.

In Malaysia, job vacancies have recovered to pre-Covid-19 levels amid mounting appetite for hiring across respective industries, coupled with demand for multilingual professionals for overseas business expansion. The number of job vacancies in Malaysia were 4% higher than that of the previous quarter and 71% higher than that of the fourth quarter of 2020. Whereas the fourth quarter of the year normally brings a lull in recruitment activity in Malaysia, the fourth quarter of 2021 saw strong appetite for hiring such that the number of job vacancies was on par with that of the second quarter.

Meanwhile, in Thailand, the number of job vacancies were up 7% over Q4 2020 but 10% lower when compared to the previous quarter. Among the factors underpinning recovery of Thailand’s recruitment market is robust momentum with respect to companies seeking to increase employee headcounts after having previously scaled back workforces amid restraints on hiring imposed due to the Covid-19 pandemic.

JAC Recruitment’s data showed that job vacancies across Indonesia increased by 60% over the year, but the recruitment market yet to return to pre-Covid-19 levels. Vacancies were 7% higher than the previous quarter. However, vacancies were 47% lower than in the fourth quarter of 2019. The recruitment market has yet to shift into high gear across all industries given a situation where many of the job openings listed thus far have been posted by employers seeking to fill vacancies.

The Vietnamese recruitment market is mounting a gradual recovery yet job seeking momentum at a lull due to the Vietnamese Lunar New Year holidays. The number of job vacancies in the fourth quarter of 2021 failed to increase relative to the fourth quarter of 2020 and relative to the third quarter of 2021, down 27% over the year and down 1% over the month. Nevertheless, the report noted there has been a growing need to hire talent in order to satisfy business demand across many industries and sectors. Some companies have been forced to somewhat cut back on production because they have been unable to secure sufficient labour capacity to engage in manufacturing.

Across China, a robust momentum among professionals seeking career change is likely to emerge after the Chinese New Year, even amid Covid-19 concerns ahead of the winter Olympics. Corporate appetite for hiring remains strong in China despite concerns regarding Covid-19. Amid that scenario, JAC Recruitment has been encountering an increasing number of job vacancies particularly involving new positions listed by new Chinese market entrants seeking to increase headcounts for the purpose of achieving earnings results recovery and expansion. Vacancies were up 6% over the year and down 5% over the quarter.

Hong Kong’s job market is on a path to recovery amid a rising number of job openings, yet many candidates hired to fill vacancies. Vacancies were up 19% over the year but were down 38% on the quarter. Job-seeking momentum has slowed in Hong Kong ahead of the Lunar New Year in February. Many potential job seekers have been taking a wait-and-see approach given the possibility of a fifth wave of Covid-19 amid a situation of worsening developments with respect to infections during the third quarter.

Across South Korea, job vacancies increasing steadily along with competitive market for hiring junior high-calibre professionals due to favourable performance of chaebol conglomerates (large family-owned business conglomerates). In the fourth quarter of 2021, there were 17% more job vacancies than in the third quarter and 75% more than in the fourth quarter of the previous year.

In India, the number of job vacancies soared by 75% over the year and 14% over the quarter. With the recruitment market having rebounded nearly to where it stood prior to the outbreak of Covid-19, employers have begun to intensify their recruitment efforts, particularly companies in the manufacturing sector, accounting consultancies, service-related firms, and other such businesses.

In Japan, JAC Recruitment found an increased number of vacancies for professionals in growth sectors such as next-generation automobiles and deoxygenation. Employers were also found to be encountering challenges in recruiting professionals equipped with expertise and foreign-language proficiency. Job vacancies jumped 20% over the previous year and up 7% on the quarter.