Robert Walters: Banks create new IT vacancies in Hong Kong

IT pros are in higher demand as banks in particular begin implementing new systems and trading platform, said recruitment firm Robert Walters Monday.

There are also more job ads in Q3 2009 than a year ago, said the firm who released recently its Robert Walters Asia Job Index that indicates that the total number of advertisements for professional positions in Q3 2009 was 21.6 percent higher than the total posted in Q2.

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The Robert Walters Asia Jobs Index tracks advertisements by number in the executive appointments sections of major newspapers and job search Web sites in Asian markets

In Hong Kong, the stock market has continued its upward direction and property prices, too, have increased significantly, said the recruitment firm, adding that both of these are reflected in higher numbers of advertisements placed for risk managers, compliance officers, surveyors and architects.

By contrast, the more fundamental economic indicators such as shipping and retail sales are still contracting and unemployment continues to rise, said Robert Walters.

Robert Walters: 5.8 percent slump for Hong Kong IT in Q2 jobs

Nevertheless, consumers are spending, which explains the increase in demand for roles in purchasing, merchandising and logistics, the company added.

Given that in Hong Kong, Singapore and Japan, Q3 (especially August) tends to be less busy as many decision makers take holiday, the increase is even more encouraging, said the firm, adding that this year, though, there was little evidence of a slowing down of activity during the quarter, least of all in China, which saw a rise of 31.2 percent during the quarter.

"The general approach to recruitment at the moment is that there is a need to be ahead of the curve. While the earlier part of the year was all about looking at ways to generate revenue in a difficult market, there is now a need to ensure the right level of support and infrastructure, in anticipation of commercial conditions improving," said Matthew Bennett, managing director at Robert Walters Hong Kong. "Organizations in all sectors want to have the best available talent in place to take advantage. Right now, they can still afford to be selective, so we are certainly not seeing the market becoming candidate driven."