While a few years ago the market demand was essentially centred on technology or hedge and fund credits, now it is all about commodities. Logically, we notice a new workers interest for minerals and grain. Some of the hottest job markets (like Australia, Canada, and Brazil) knew how to take advantage of this new boom. While the crisis was hardly affecting employment and led to mass redundancy in United States and Europe, hottest job markets jumped at the chance of commodities boom.
Big world financial centres don’t seem to be the El Dorado of employment, fortune, and social ascendance any more. Today an investor would have the choice between investing its funds in Honk Kong, or in… Kazakhstan!
This sudden demand helped numerous countries to low jobless figures. Moreover, countries like Australia, Canada and Brazil benefited from this commodities bonanza like from a development aid. It is also having numerous ripple effects on other job sectors. For example, bus drivers are getting more and more precious in Perth, Western Australia, because mining companies hire all of them.
As the commodities boom grows, the search for executives and middle management will get a lot tougher. Barren areas in Kazakhstan are not the top pick of college students looking for career growth. So, companies will be coming up with new incentives to make these ‘quiet’ areas more attractive to potential employees. This strategy will significantly reduce unemployment in those countries.
But do not grant the merit of a strengthened economy only to a decreasing unemployment. For example, Japan is number two on global placement firm Manpower’s list of the hottest job markets, then “The country’s overall unemployment is so drastically low it mops up demand in general,” says Chris Clarke, CEO of Boyden, an executive search firm. Other examples come to confirm this theory. Although Denmark was the first European Union country to slide into a recession amid the subprime crisis, less than 50,000 people were unemployed, out of a population of 5.5 million…