International hiring expectations have fallen across Asia from the previous quarter, but in China they are rising, the latest report from human resources firm Hudson said.
About 55 percent of respondents planned to increase their headcount in the third quarter, compared with 52 percent in the previous quarter, the report said.
But on a yearly basis the rate has dropped. In China, 60 percent of employers wanted to boost their headcount in the third quarter last year.
Employers in China still face the highest salary inflation in Asia, with only 8 percent of respondents saying they can negotiate lower wages for new managerial hires in the current economic climate.
The Asian edition of Hudson's quarterly report was launched in 1998. Its premise is that employer expectations of staffing levels reflect the general industry outlook.
Over 2,600 key employment decision makers from multinationals of all sizes in all major industry sectors were surveyed for the report, with 708 of the executives based in China.
Buoyant market
"China is the only market surveyed in Asia where employment expectations are rising this quarter, reflecting that the market is still buoyant, so employers have little scope to negotiate lower new-hire salaries, and few are experiencing any reduction in staff turnover rates," Angie Eagan, general manager of Hudson Shanghai, said.
The banking and financial services sector had the highest expectations: headcount growth forecast at 64 percent, compared with 57 percent in the March-June period.
Hiring is picking up after a period of consolidation, when banks were evaluating the impact of the subprime crisis and absorbing new regulatory measures. Much of that increased recruitment is in consumer and private banking.
But the biggest increase in hiring expectations was in the consumer sector, which went from a 45 percent forecast for headcount growth in the last quarter to 60 percent this quarter.
The third quarter is traditionally the peak season for the consumer sector, and August's Olympic Games boosted the retail and hospitality sectors. Expansion in tourism, retail and hospitality is also driving growth.
