SEOUL – The job market in the United States might be soft, however in South Korea, the number of job advertisements is up.
A stable and growing Korean economy has led to job advertisement gains for a second straight quarter according to Robert Walters Korea, a leading international recruitment consultancy. Quarter two job advertisements, particularly for legal and IT roles, rose by 35% and 22% respectively as renewed foreign interest lead to an increase in outsourcing demands for these functions. Robert Walters’ Asia Job Index also notes that while multinationals look to expand into this growing market, Korean firms are also looking to expand internationally which should boost job advertisements and market sentiment.
Anthony Modrich, Country Manager of Robert Walters Korea, comments: “Job activity within Korea continued to benefit from Korea’s positioning as a growth market and the recent signing of a Free Trade Agreement between the EU and Korea is indicative of this. The region holds attractive opportunities for international companies and Koreans working abroad are increasingly looking to return home to take advantage of new roles.”
Other key findings indicate that:
- Significant year-on-year growth of 48% in job advertisements volumes across Asia;
- Property management job advertisements in China rose by 46% despite government action to curb property inflation;
- The earthquake and tsunami in Japan has unsurprisingly affected recruitment advertising levels, with job advertisements declining by 7.3% from Q1 to Q2. However, IT and construction services recruitment have seen positive trends