Regional employment recovers to pre-pandemic levels

SOUTHEAST ASIA: Total white-collar employment rose over the final quarter of 2021, according to a new report by JAC Recruitment.

It suggests there was a significant hiring spree across all sectors of the professional economy, despite the continuing impact of the Covid-19 pandemic.

In Singapore, GDP growth shows good signs for the job market recovering from the effects of the pandemic. Job vacancies rose on a year-on-year basis as companies sought to add more personnel and fill vacant positions, amidst concerns about the surge of the Omicron variant. Findings show that open positions were up by 32% against the fourth quarter of 2020, but down by 10% against the third quarter of 2021.

Malaysia’s job vacancies increased to pre-pandemic levels with the rise in hiring across several industries, accompanied by a demand for multilingual professionals in multinational corporations. Job vacancy numbers rose by 4%, when compared with the third quarter of 2021.

In Vietnam, despite the mounting recruitment rate, there is concern that momentum is lacking. The vacancies in the fourth quarter of 2021 remained low as compared to the same period in 2020. In the third quarter of 2021, it was down by 27% compared to the previous year.

The report also indicates that in Thailand, the number of job vacancies was up by 7%, when compared to the same quarter of 2021. Experts believe that the reasons for this rise were the robust momentum of the hiring market, and the increasing urge from businesses to increase employee headcounts.

Indonesia’s job vacancies have gained traction, rising by 60% over the year. But the hiring for those vacancies has yet to fully recover. In the last quarter of 2021, open positions were 7% higher than they had been in the previous quarter.

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