Morgan McKinley : Contracting jobs down 20% while number of professionals looking for new jobs falls
(Aug.7, 2017,/staffingindustry.com/)Contracting jobs in the Asia Pacific region decreased by 20% in the second quarter compared to the previous quarter, according to figures from Morgan McKinley’s APAC Employment Monitor.
The monitor also showed that the number of professionals seeking new jobs fell 2% year-on-year for the second quarter. Meanwhile permanent financial services jobs decreased by 2% in the same period.
China saw a 7% increase in Q2 jobs, quarter-on-quarter over Q1. Candidates were down 16%, quarter-on-quarter which is attributable, in part, to applicants’ concerns about the underlying stability of the Chinese economy. Hong Kong, which saw a Q1 financial services employment boom, reported a Q2 9% decrease in jobs available and a 25% decrease in candidates, quarter-on-quarter.
Similar to Hong Kong, Singapore saw an abundance in employment figures in Q1, followed by a Q2 drop. There was a quarter-on-quarter 22% decrease in jobs, and 51% decrease in job seekers. Japan recorded a 14% quarter-on-quarter increase in jobs available and an 11% increase in job seekers. Australia’ reported a 26% increase in jobs and 18% increase in candidates.
“Contracting jobs increased by 26% year-on-year, which continues the trend toward a more flexible ‘non-Perm’ workforce generally, and this is an encouraging outcome for those employed in this style of delivery,” the report stated. “It also reflects a growing, global cultural trend towards increasing attractiveness of the “gig economy” over the standard 9-5 permanent role.”