Gloomy Hiring Prospects in Hong Kong:

(March 14^th 2012)

Stock prices are looking good in Hong Kong, up 16% this year but the job market may not be as successful as last year.  Hong Kong’s GDP growth dropped from 4.3% in the third quarter of 2011 to 3% at the end of last year, resulting in weakening of employment prospects.  An official also cites “surging retail rents” as a factor in explaining Hong Kong’s tamped-down job creation, as well as financial headwinds more globally. Plus, the banking sector that lies at the heart of Hong Kong has endured job cuts, especially at Western banks, suffering from Europe’s debt crisis and a generally weaker global economy.

The expert mentions at the end of the article that the market this year will be similar to last year but not as good.  On a good note, although the future is unsure, university students about to graduate are still feeling relatively optimistic about their prospects. Seeing their education and skills in their competitive market as a huge asset to them. 

~Chet Matsuura (March 19^th 2012)

http://blogs.wsj.com/chinarealtime/2012/03/14/gloomy-hiring-prospects-face-hong-kong/?mod=WSJBlog