Hudson Report: Job outlook mixed

The number of employers intending to decrease headcount has more than doubled this quarter, up to 10.7 percent in the first quarter of this year, according to the Hudson Report released on Jan 15.

The manufacturing and industrial sector is reporting the highest intentions to decrease staffing levels at 14.9 percent.

Employers remain cautions despite a slight rebound in the sector.

Growth has largely been spurred by government investment and in the private sector many organizations are still feeling the effects of credit curbs. It will take time for growth to even out across the industry, the report further explained.

One in 10 firms is planning to decrease headcount in the media, public relations and advertising sector, which Hudson experts think to be in line with trends in the wider economy.

The absence of large global events, such as the Olympic Games, combined with seasonality is also contributing to this drop.

The healthcare and life sciences sector has the best prospects overall, with 78.4 percent of employers planning to increase headcount.

The sector is developing at an astonishing rate on the back of surging healthcare spending - projected to grow from $357 billion in 2011 to $1 trillion by 2020 - and an increase in the number of multinational companies headquartering their operations in China.

Hudson is seeing particular demand for roles in pharmaceutical and bio-technology as well as business development and R&D.

The consumer sector has the second-best prospects overall, with about 71.5 percent of employers willing to increase headcount in the first quarter.

The continued demand for staff in this sector is found to be closely related to China's explosive e-commerce landscape, which has changed the way Chinese consumers buy and sell goods.

Around 30 percent of transactions were made in the apparel sector, with total sales hitting 300 billion yuan year-on-year to November 2012.

Within banking and financial services, Hudson is seeing demand for junior and mid-level hires, as well as credit risk and front-office talent with close ties to state-owned companies and large local corporates.

shijing@chinadaily.com.cn

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