New graduates face tough competition

PUBLISHED : Thursday, 15 March, 2012, 12:00am
UPDATED : Thursday, 15 March, 2012, 12:00am


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Graduates face a grim job outlook, according to two new reports.

Hong Kong ranks fourth in the world in competitiveness, but on top of that, bosses will slow their hiring in the next three months. They are not confident about hiring new workers, a survey by ManpowerGroup, a recruitment firm, revealed. Their confidence level is at its lowest since 2009 because of uncertainty in the global market.

In another report, Hong Kong's workforce was ranked the most productive in Asia.

The rankings were compiled by research firm Economist Intelligence Unit for Citigroup, which looked at economic strength, financial maturity and global appeal.

Only Dublin, the capital of Ireland, bettered Hong Kong in human capital, which measures population size, quality of education and health care and the ease of hiring and firing foreign nationals.