Job advertising volumes slow down, reflecting cautious outlook among bosses

Job advertising volumes in Hong Kong grew 2 per cent in the first quarter compared with a year ago, far behind the average of 22 per cent in Asia.

The low figure was attributed to a cautious outlook by bosses.

But Hong Kong fared a little better than Singapore, which registered 0.4 per cent growth, the slowest in the region, from January to March, according to the Asia Job Index compiled by global recruitment agency Robert Walters.

The index tracks advertising volumes for professional positions in Hong Kong, the mainland, Malaysia, Singapore and South Korea. Advertising volume in Japan rose 33 per cent year-on-year. Next was the mainland with 16 per cent growth followed by 15 per cent in Malaysia and 14 per cent in South Korea.

Matthew Bennett, the consultancy's managing director of Greater China, said firms in Hong Kong would "remain cautious as the transition of the Chinese economy and uncertainties in the European markets continue".

"This will affect the city's manufacturing and trade industries, as seen from the decrease in job advertising in the merchandising and operations functions in Q1," he added.