Job advertising in Hong Kong up a measly 1.4% in Q3

Here's what to blame.

According to Robert Walters, advertising figures in Hong Kong rose modestly by 1.4% over the quarter but the level of recruitment advertising activity began to consolidate in September. 

The PMI index also dipped below the 50% level, which correlated with lower levels of recorded consumer spending. These trends also explain why advertised roles within merchandising and purchasing fell by 9.3%. Government spending on housing projects supported a 6.6% increase in advertised jobs within property management.

Adverts for legal and compliance professionals rose by 17.1% as the financial regulatory body continued to enforce new laws that required banks to employ a minimum number of compliance professionals. Advertising and marketing maintained its position as one of the largest sectors for job advertisements, but overall numbers fell slightly by 2.8% which was expected given the traditionally quieter months of July and August.

Matthew Bennett, managing director for Robert Walters Greater China, said “Whilst retail spending has slowed, government building and infrastructure projects, such as the Hong Kong Zhuhai-Macao Bridge, are supporting the demand for skills in areas which include engineering and surveying, with job adverts up 6.2% for the quarter.

The banking sector continues to go through its period of realignment with further regulation being imposed. This situation continues to feed the demand for compliance and legal professionals.”