Available jobs in HK slip 9% in 3Q16

Outsourced support services also affecting job growth.

It has been noted that as with Mainland China, professionals in Hong Kong received their bonuses in Q1, making the Q3 25% decrease in professionals normal.

According to a research note from Morgan McKinley, though, the 9% decrease in jobs available is indicative of a more disconcerting trend.

Further, home to a number of European businesses and the sixth largest stock exchange in the world, Hong Kong is particularly susceptible to global volatility. Of its regional counterparts, Hong Kong was dealt the greatest blow by Brexit, with some experts fearing it will lower GDP by a full percentage point.

Lastly, another factor stalling job growth in Hong Kong is the shift from traditional, location-specific work which is causing financial services institutions to reevaluate positions. Many of those roles, including support services, accounting and back office functions continue to move to more affordable locations such as the Philippines, India or Mainland China.