Another month has come and gone, and if there is any consolation where the JobStreet.com Employee Confidence Indices (JECI) are concerned, the steep falls in November were somehow checked in December.
Indeed among all the countries where we have been running the JobStreet.com
ECI, the Index in the Philippines recovered and even posted a positive gain by bouncing back to 58.2 points from the previous month's 56.7 points.
Last week, a Bloomberg analysis quoted an economics
expert in saying that the world will be in for a protracted U-shaped
recession. With the world continuing to be beset by economic and financial concerns, how much of the job market will be affected and when will we finally see the start of some recovery?
In
the meantime, Malaysia's JobStreet ECI in December fell minimally by 0.3 point to 47.3 points. In Singapore, the Index lost 0.8 point to 42.4 points while in India, the
Index shed 1.4 points to 59.7 points.
Finally, here is a comparison of the JobStreet ECI in the four countries for December 2007 and 2008.
Apart from the Philippines where the year-on-year index showed a flat zero change, the indices in Malaysia, Singapore and India registered net declines as employee confidence in finding jobs were battered by bad news in the economy and job markets. Singapore's decline was the steepest with a 27 percent drop, followed by a 14 percent drop in India and a five percent in Malaysia.
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The JobStreet.com Employment
Confident Index is a measurement of job seeker confidence in finding a
job in the countries where we hold our monthly polls.