Singapore's advertising industry has become more bullish about its
near-term business prospects.
According to Morgan & Banks' Job Index survey, 86 per cent of firms in
the advertising sector stated that they would be hiring more staff in
the first quarter of this year.
This is up from 66 per cent for the previous three-month period.
Kevin McCormick, Morgan & Banks regional HR manager, said the dot-com
boom was fuelling the growth in job opportunities, which is in addition
to the general recovery of the Asia-Pacific economy.
"There's a war for talent right now as dot-com companies continue to try
to build their brands and as agencies replace talent lost to the
Internet side or seek talent for their own in-house interactive unit,"
he told MEDIA.
However, the level of optimism in employment growth is higher in
Singapore than in Hong Kong.
In Hong Kong, 47 per cent of companies in the advertising sector stated
that they would be seeking to employ more people in the first three
months of 2000.
Mr McCormick said: "There appears to be more faith in the Singapore
government's management of its economy and this is reflected in
confidence in all sectors of the economy.
"Whenever the government intervenes in the market to bolster the
economy, a rebound normally follows within months. In other places, a
rebound would take longer."
