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UAE Online Job Postings Drop 35%, But 2017 Outlook Positive
Eurozone Economy Shows Signs of Life as Jobs Growth Picks Up
The French economy is growing at its fastest pace since mid-2011, driving the Eurozone economy to create more jobs in January than at any time in the last nine years... and the German economy is in an even stronger position than the French, says the latest Markit survey. Overall, the Eurozone PMI is almost unchanged month-on-month at 54.3, but its employment index is growing very rapidly, indicating that the steady pace of economic growth is translating into jobs. Extra demand is boosting hiring in the services and manufacturing sectors, and optimistic employers are taking on workers at the fastest pace since February 2008. “The Eurozone economy has started 2017 on a strong note. The January flash PMI is signaling respectable quarterly GDP growth of 0.4pc with a broad-based expansion across both manufacturing and services,” said Chris Williamson, chief business economist at IHS Markit. “Perhaps the most encouraging development is the upturn in hiring, with January seeing the largest monthly rise in employment for nine years amid improved optimism about the year ahead.” See how the Eurozone economy is on the rise.
Online job postings in the UAE dropped by 35 percent year-on-year in November 2016, according to the Monster Employment Index, a new survey by jobs site Monster.com. The banking, financial services and insurance industry saw the slowest growth in online recruitment, with a year-on-year drop of 39 percent in November. Hospitality followed with a 37 percent decline in online job listings, while retail, trade and logistics also noted a fall of 35 percent. The index also found that the education sector saw the least decline year-on-year at one percent, while online job postings fell by eight percent in the chemicals and production industries. “With the uncertainty surrounding the new oil production cuts by OPEC and the strengthened U.S. dollar, it appears that UAE businesses are taking a cautious approach to growing their workforce,” said Sanjay Modi, managing director, Monster.com, APAC and Middle East. Read more about the Monster.com report.
Pakistan’s Misguided Obsession with Infrastructure
Pakistan’s government is building more airports, roads and railways, even though the existing ones are underused. Why? The economic boom it was meant to trigger has never arrived. The good news: over the past three years the government has achieved a measure of macroeconomic stability; trimmed the budget deficit; and realized lower oil prices. Pakistan’s trade deficit has narrowed so that it can begin to rebuild its foreign-exchange reserves, but terrorism and insurgency have put off investors, both foreign and domestic. The country is also held back by inefficient industries, which have fallen behind rivals in India and Bangladesh. Read more about Pakistan’s infrastructure.
China Sees 1.3 Million More New Babies in 2016 ... But Workforce Shrinks as Population Ages
China’s increase in newborns last year was much smaller than the government expected, despite the new two-child policy. There’s also a chronic fall in births predicted from 2018 that will last for several years into the future. The data was released last week by the National Bureau of Statistics, and showed that the country’s workforce shrank by 3.49 million, while the number of people aged 60 or above also increased by 10.86 million. The overall number of new births in 2016 totaled 17.86 million – the biggest annual total on the mainland since 1993 – partly thanks to the relaxation of the control on births; but the world’s most populous country’s demographic situation is still dominated by a low fertility ratio, shrinking labor force and a quickly aging population; and demographers warn that China’s two-child policy is “too little, too late.” Understand more about China’s population issues.
Corporate Housing on Sale for Worldwide ERC® Members
Stays of 30 days or longer receive 3 days for free!
If you need temporary furnished apartments for your assignees in NY, NJ, CT, or MA, Furnished Quarters is making available this special promotion for new reservations only, and for move-ins by February 28, 2017. All our accommodations include free WiFi, bi-weekly housekeeping and Friends with Benefits preferred services.
Government Affairs Community Update Covers Changes in New U.S. Administration
As our industry reviews the transition in the U.S. administration, it is increasingly clear that what happens in one part of the world impacts other countries and businesses, and understanding the changes that are happening in any superpower is critical to our effectiveness as mobility professionals. Worldwide ERC® has developed the Government Affairs Community Update: The First 100 Days, reporting on President Trump’s initial actions in the presidency, that is provided to its members on the second and fourth Monday of each month. Read the first issue of "Government Affairs Community Update: The First 100 Days" here.
Brazil: A Look into Latin America’s Largest Startup Ecosystem
With more than 200 million people, Brazil is still the most populous country in South America, as well as its largest market. Internet penetration and use are high — Brazil trails only the United States in total Facebook, Twitter and YouTube users — and the country continues to count more mobile devices than human inhabitants. It is uniquely positioned to capitalize on regional markets and is artificially devoid of international competition. Fundacity — a network for startups and investors — has found that education and healthcare, two of Brazil’s most chronically troubled sectors, are precisely the areas investors are most keen on. With the national mood plunging toward despair in the first semester of 2015, Brazilian accelerators, VC funds and angel networks nevertheless backed at least 195 startups between them. Those combined investments accounted for just under seven percent of the total capital taken in by startups that semester, which suggests something else about Brazilian entrepreneurialism foreign observers would do well to make note of: the potential remains enormous. Learn more about Brazil’s startup market.
Global Talent Competitiveness (infographic)
The GTCI ranks countries by their ability to grow, attract and retain talent. In addition to ranking the top 100 countries in their survey, their infographic explores “disruption and creation,” shares the three qualities of top city talent magnets (combine strong infrastructure and information connectivity, invest in knowledge hubs, and attract international companies) and offers recommendations for regions that want to improve their standing and potential. See the GTCI infographic!
Here’s What World Leaders Think Is the Greatest Risk for 2017
Greatest risk for world leaders? It’s not the talent shortage. "Weapons of mass destruction" now ranks as the No. 1 concern of global leaders, according to a new survey from the World Economic Forum (WEF). It's the 12th year that the World Economic Forum has published the survey, which polls 750 of the group's members, including CEOs and leaders and experts in various fields. Weapons of mass destruction have come up as a concern before on the survey, but never have been ranked as the biggest perceived risk in terms of potential impact in the immediate year about which the world leaders were surveyed. Last year, WMDs were the second biggest concern of world leaders behind climate change. Still, climate change remains a major worry. Of the top five worries of global leaders, the other four are related to climate change. Read on about the WEF survey.