Yes, there are indeed employers still hiring during this soft recovery market. Problem is, they aren’t really in the US, or even across the pond. Manpower Inc. recently compiled a series of surveys profiling the employment outlook of nations across the developed and developing worlds, and came up with a few findings that shouldn’t surprise.
Emerging markets (with the inclusion of Australia, Germany, and a few other developed peers), are leading the field in positive employment numbers. Driven by structural growth, a strong export recovery, and increasing domestic consumption appetites, nations like China and Brazil are rapidly adding staff.
We’ve compiled a list of the 5 nations where the average citizens are most likely to get hired, and 5 nations where the same average Joe is most likely to be sitting at a local bar, pink slip in hand. The “Net Employment Outlook” figure for each slide is the percentage of employers looking to hire minus the percentage looking to fire during the Fourth Quarter (based on Manpower’s employer interviews).
+20% of companies plan to hire vs. plan to fire
Unemployment rate: 5.1%
Hiring spree: Aussie employers added 30,900 workers in August, almost 6,000 more than media estimates.
Where are the jobs? Finance, real estate, and insurance all looked promising, as well as jobs in the Services sector and Mining & Construction. Not to mention, Australia's minimum hourly wage is $15.
The catch: But, if business relations and trade continue to intertwine the economies of Australia and China, there may be reason to fear a massive influx of foreign workers onto Aussie shores (or a strong trend of outsourcing work to China).
+22% of companies plan to hire vs. plan to fire
Unemployment rate: 2.3%
Where are the jobs? Unlike many of its former Asian Tigers and BRIC competitors, Singapore's positive job growth is led by hiring boosts in the Public Administration/ Education and Wholesale/ Retail Trade sectors. Southeast Asia's fourth-largest economy grew at a shattering pace of 18.1% in the first half of 2010.
The catch: Despite the slap-happy news. let's not forget that however immaculate and efficient this island may be, its population and land mass still severely limits the country's ability to truly diversify its economy and wean itself from its export-led development model.
+37% of companies plan to hire vs. plan to fire
Unemployment rate: 6.9%
Hiring spree: IBM recently announced that it will be opening its first South American research centre in Brazil and will be tapping into the nation's 250,000-strong market for IT professionals.
Where are the jobs? Financial Services, Real Estate, and Insurance sectors once again lead positive job outlooks despite the fact that Brazil is best known for its commodity titans. While this LatAm powerhouse may have claimed its economic clout by tapping its natural resources, Brazil's rapidly expanding middle class is paving the way for growth in its commercial banking, consumer retail, and homebuilding industries.
The catch: According to the New York Times, Brazil's education gap is still severe (trails even developing countries like Uruguay and Mexico) and could impede the country from maximizing its favourable 'demographic window' over the next few decades as the young folks vastly outnumber the elderly.
*The 'Net Employment Outlook' figure for each slide is the percentage of employers looking to hire minus the percentage looking to fire during the Fourth Quarter.
+40% of companies plan to hire vs. plan to fire
Unemployment rate: 5.2%
Hiring spree: Taiwan Semiconductor Manufacturing Company, the island's largest firm by market cap, plans to hire as many as 8,000 new workers at a new branch in the country.
Where are the jobs? Manufacturing and Services are both leading the hiring rally in Taiwan. Manufacturing, especially got a boost in the last few months as global demand for Taiwan's electronic exports recovered - prompting employers in the sector to add staff.
The catch: As with Singapore, Taiwan's economy is small relative to the BRICs and still heavily reliant on exports rather than domestic consumption as its backbone.
+51% of companies plan to hire vs. plan to fire
Unemployment rate: 4.2%
Hiring spree: Citigroup is planning to hire up to 12,000 employees on the Mainland over the next three years, tripling its current workforce.
Where are the jobs? The sectors most avidly spawning jobs are the Financial Services/ Insurance/ Real Estate trio (55% firms on the hire) and Services (54% firms on the hire). The hiring binge from both domestic firms and foreign MNCs parallel EM investors' bullish sentiments on the country's growth.
The catch: According to CMR Managing Director Shaun Rein, hiring and retaining talent amongst China's university graduates are one of the biggest problems faced by recruiters who are looking to fill spots on the Mainland. The annual turnover rate (according to Rein's personal estimates) is 30% for domestic hires, a figure that flashes red to any seasoned HR professional.
+4% of companies plan to hire vs. plan to fire
Unemployment rate: 9.6%
Firing spree: Nearly 25% of executives at Lockheed Martin, the world's largest military firm, have applied for buyout packages as the Pentagon hints toward a budget tightening.
Where are the jobs? The Finance & Business Services and Mining sectors report optimistic hiring outlooks for the Fourth quarter, with New York securities firms adding nearly 2,000 jobs since February of 2010.
+2% of companies plan to hire vs. plan to fire
Unemployment Rate: 7.8%
Firing Spree: The Royal Bank of Scotland has so far cut 20,600 jobs in the current downturn.
Where are the jobs? Finance and Business Services, as well as Utilities, still seem like the go-to sectors for jobs, despite the RBS firing massacre detailed above. The finance sector will still have to overcome regulatory moves by Cameron and his posse, especially limits on prop trading, in order to retain talent in its London branches.
+0% of companies plan to hire vs. plan to fire
Unemployment rate: 9.7%
Firing spree: Sarkozy's plan to raise the retirement age from 60 to 62 sparked mass riots in Paris this month, which severely disrupted schools, public services, and domestic air services.
Where are the jobs? Agriculture and Forestry reported cautiously optimistic jobs prospects while the Restaurant and Hospitality sector continues to remain a bulwark of steady employment in these uncertain times.
-1% of companies plan to hire vs. plan to fire
Unemployment rate: 20.1%
Firing spree: Unemployment amongst the 16-24 year old crowd was 42.9% as of December, 2009. And we're not exactly talking about teens who can't get part-time work for chump change -- many of these young people are looking for full-time work.
Where are the jobs? Still a tourism and study abroad hub, the hospitality and restaurant sector seems to be the strongest hiring prospect in this country.
-3% of companies plan to hire vs. plan to fire
Unemployment rate: 13.7%
Firing spree: Northern Ireland counties are set to cut 30,000 public sector jobs in the next 4 years.
Where are the jobs? The Celtic Tiger no longer roars as the government battles soaring GDP deficits, a mass exodus of foreign businesses from its borders, a hallowed restructuring of the Anglo Irish Bank, and its devastated tourism stronghold. So where are the jobs? Nowhere - don't hold your breath for green shoots in the Fourth Quarter.
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