Wednesday, November 26, 2008

Employee Confidence Index is Dropping

Malaysians, Singaporeans, Filipinos and Indians are getting more pessimistic and the Employee Confidence Index are expected to dip this month.
Fully quoting it below.

With only six days to go before the end of the month, the indication we have from our monthly employee confidence index (JECI) that we run separately in Malaysia, Singapore, the Philippines and India is that we are seeing an erosion in the measurement of job seeker confidence in finding a job.

In Malaysia, the ECI has declined to around 47.5 which is a drop of about two points from October. India's ECI will likely drop by about 1.5 points to around 61.0 while in the Philippines, the ECI will also shed about two points to about 56.5.

We see Singapore as the hardest hit among the four countries that we run this monthly poll with a decline of almost 3.5 points to 43.2. Of course, while this is still not as low as the last recession in 2005, the steep decline from the 57.0 recorded only in February this year gives cause for concern that the global recession will have a significant impact on Singapore and the rest of this region.

We shall be giving the latest ECI data here by early next month. Stay tuned.

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