Hays Global Skills Index 2012

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Hays Global Skills Index belegt: Weltweite Volkswirtschaften verzeichnen Fachkräftemangel bei gleichzeitig hoher Arbeitslosigkeit …

Hays Global Skills Index belegt: Weltweite Volkswirtschaften verzeichnen Fachkräftemangel bei gleichzeitig hoher Arbeitslosigkeit

Stark regulierter Arbeitsmarkt hemmt Deutschland beim Anwerben ausländischer Fachkräfte

Mannheim, 20. November 2012. Die Welt steht vor einem wirtschaftlichen Paradox: In vielen Ländern herrscht eine hohe, teils ansteigende Arbeitslosigkeit. Gleichzeitig gibt es für wichtige Berufe einen chronischen Fachkräftemangel. Aufgrund der fehlenden Flexibilität vieler Arbeitsmärkte sowie schlechter Aus- und Weiterbildung wird der Kampf um Talente noch schwieriger und treibt die Gehälter bei Hochqualifizierten in die Höhe.

Das sind die Ergebnisse des aktuellen Berichts Hays Global Skills Index 2012, den der Personaldienstleister Hays plc. gemeinsam mit dem Marktforschungsunternehmen Oxford Economics erstellt hat. Mit diesem Barometer sollen die Dynamik der Märkte und Verfügbarkeit von Fachkräften in 27 Schlüsselvolkswirtschaften erfasst werden.

Der Bericht arbeitet heraus, dass jedes Land mit ganz speziellen Problemen bei der Nachfrage nach Fachkräften zu kämpfen hat. In 16 von insgesamt 27 Ländern ist der Arbeitsmarkt trotz des weltweiten wirtschaftlichen Abschwungs derzeit angespannt. Das fördert die Lohninflation und führt dazu, dass viele wichtige Positionen unbesetzt bleiben.

Im Vergleich zu anderen Volkswirtschaften hat sich Deutschland zwar gut entwickelt, hadert allerdings ebenfalls mit dem Mangel an hochqualifizierten Spezialisten. Was wiederum die Gehälter steigen lässt und einen hohen Druck auf Unternehmen ausübt. Aufgrund des regulierten und unflexiblen Arbeitsmarkts, den der Bericht mit 7,1 Punkten bewertet, sei es für Deutschland schwierig, ausländische Fachkräfte anzuwerben. Vorteilhaft sei in Deutschland allerdings das Bildungssystem, das Menschen einen schnellen Einstieg in die Arbeitswelt ermögliche.

Um das Ungleichgewicht zwischen Fachkräfteangebot und -nachfrage zu lösen, beinhaltet der Index einen dreistufigen Maßnahmenplan für politische Entscheidungsträger. Zunächst sollten sich die Regierungen auf die Fachkräfte konzentrieren, an denen in ihrer jeweiligen Volkswirtschaft ein Mangel herrscht, und die nötigen Schritte einleiten, um geeignete Arbeitnehmer mittels gezielter Immigrationsmaßnahmen anzuwerben. Zweitens sollten die Arbeitgeber steuerliche Anreize erhalten, damit sie ihr Angebot an geeigneten Ausbildungsmaßnahmen vergrößern. Drittens sollten die Regierungen gemeinsam mit Arbeitgebern und Bildungsbehörden eine Reihe von Initiativen und Anreizen entwickeln, damit sich Menschen die Fähigkeiten aneignen, die national und international besonders nachgefragt sind.

Der Hays Global Skills Index vergibt für jedes Land eine Punktzahl zwischen 0 und 10, die das Ausmaß der auf dem jeweiligen Fachkräfte-Arbeitsmarkt herrschenden Probleme widerspiegelt. Der gesamte Bericht steht zum Download bereit: Hays Global Skills Index 2012 (http://www.h

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  • 1. In partnership with: tHe Hays Global skills index 2012 4.2 4.3 6.1 5.7 5.2 5.5 NE IA K ND A EN AR IN SS TH ED LA CH M RU ER SW PO N DE LA ND 3.3 S BE LG IU M UNITED KINGDOM 5.0 IRELAND 4.4 CZECH REPUBLIC 4.6 EUROPE 5.3 PORTUGAL 5.3 N PA JA DA NA CA SPAIN 5.6 5.5 S E AT HONG KONG 3.7 ST ED IT ASIA UN D AN FRANCE 4.5 RL HU GE 6.4 ZE NG RM INDIA 4.2 IT IT AR AN AL SW Y Y Y tHe Hays Global skills index 2012 THE 5.4 3.3 6.4 6.1 AMERICAS O IC EX 5.9 M SINGAPORE listed below are the main offices for each of our countries of operation. 5.1 to find your local office, please visit hays.com australia colombia india Mexico singapore T +61 (0)2 8226 9600 T +57 (1) 742 25 02 T +91 22 42482500 T +52 (55) 52 49 25 00 T +65 (0) 6223 4535 F +61 (0)2 9233 1110 F +57 (1) 742 00 28 F +91 22 42482550 F +52 (55) 52 02 76 01 F +65 (0) 6223 6235 Level 11, Chifley Tower Paralelo 108 2nd Floor, A Wing Paseo de las Palmas 405 80 Raffles Place 2 Chifley Square Autopista Norte # 108-27 Fortune 2000 Torre Optima 1 #27-20 UOB Plaza 2 Sydney NSW 2000 Torre 2 – Oficina 1105 Bandra Kurla Complex Piso 10 Singapore 048624 info@hays.com.au Bogotá D.C. Bandra (E), 400 051 Lomas de Chapultepec singapore@hays.com.sg BRAZIL hays.com.au colombia@hays.com.co hays.com.co Mumbai mumbai@hays.in 11 000 Mexico DF mexico@hays.com.mx hays.com.sg 5.7 austria hays.in hays.com.mx spain AUSTRALIA & T +43 1 535 34 43 0 czech republic T +34 91 443 0750 F +43 1 535 34 43 299 T +420 225 001 711 ireland netherlands F +34 91 443 0770 Europaplatz 3/5 F +420 225 001 723 T +353 (0)1 897 2481 T +31 (0)20 3630 310 Plaza de Colón 2 1150 Vienna info@hays.at hays.at Olivova 4/2096 110 00 Praha 1 prague@hays.cz hays.cz F +353 (0)1 670 4738 2 Dawson Street Dublin 2 info@hays.ie F +31 (0)20 3630 316 H.J.E. Wenckebachweg 210 1096 AS Amsterdam service@hays.nl Torre 2, Planta 3 28046 Madrid madrid@hays.es hays.es NEW ZEALAND belgium hays.ie hays.nl T +32 (0)56 653600 denmark sweden F +32 (0)56 228761 T +45 3315 5600 italy new Zealand T +46 (0)8 588 043 00 Harelbeeksestraat 81 F +45 3315 5601 T +39 (0)2 888 931 T +64 (0)9 377 4774 F +46 (0)8 588 043 99 D AN B-8520 Kuurne Kongens Nytorv 8 F +39 (0)2 888 93 41 F +64 (0)9 377 5855 Stureplan 4C A info@hays.be DK-1050 København K Corso Italia, 13 Level 17, ASB Bank Centre 11435 Stockholm AL LI hays.be copenhagen@hays.dk 20122 Milano 135 Albert Street stockholm@hays.com RA ZE hays.dk milano@hays.it Auckland hays.se creatinG tHe Hays Global skills index ST W brazil hays.it info@hays.net.nz AU NE T +55 11 3046 9800 France hays.net.nz switzerland F +55 11 3046 9820 T +33 (0)1 42 99 16 99 Japan T +41 (0)44 2255 000 Rua Pequetita F +33 (0)1 42 99 16 93 T +81 (0)3 3560 1188 poland F +41 (0)44 2255 299 215 – 13° andar Sao Paulo, SP Building Gaveau 11, avenue Delcassé F +81 (0)3 3560 1189 Akasaka Twin Tower T +48 (0)22 584 56 50 F +48 (0)22 584 56 51 Nüschelerstr. 32 8001 Zürich the Hays Global skills index highlights the main pressure points impacting the labour markets of 27 countries. 5.9 4.8 04552-060 75008 Paris Main Tower 7F Ul. Złota 59 info@hays.ch comunicacao@hays.com.br paris@hays.fr 2-17-22 Akasaka 00-120 Warszawa hays.ch hays.com.br hays.fr Minato-Ku info@hays.pl The Hays Index ranges from 0 to 10.0 where a score of 5.0 indicates a • talent mismatch. Measures the mismatch between the skills needed by Each country’s Hays Index is surrounded by a coloured dial indicating the Tokyo, 107-0052 hays.pl united arab emirates canada Germany japan@hays.co.jp T +971 (0)4 361 2882 generally balanced picture for labour markets. This suggests firms are businesses and skills possessed by the labour force. A high score means score ranges for the seven labour market indicators. T +1 416 367 4297 T +49 (0)621 1788 0 hays.co.jp portugal F +971 (0)4 368 6794 able to recruit, retain or replace their key talent at prevailing wage rates. that the numbers of long-term unemployed and vacancies are both F +1 416 203 1923 F +49 (0)621 1788 1299 T +351 21 782 6560 Block 19, 1st Floor 6 Adelaide Street East Willy-Brandt-Platz 1-3 luxembourg F +351 21 782 6566 Office F-02 A score close to 0 indicates intense competition for key talent vacancies. increasing suggesting the available labour does not have the skills Overall wage Education Suite 600, Toronto 68161 Mannheim T +352 268 654 Avenida da República Knowledge Village A score close to 10.0 indicates severe difficulty in filling key vacancies. employers want. A low score implies that employers are having an easier pressure flexibility Ontario, M5C 1H6 info@hays.de F +352 268 654 10 90 – 1º P.O. Box 500340, Dubai time finding the talent they need. recruit@hays.ca hays.de Boulevard Royal 26b Fracção 4, 1600-206 dubai@hays.com • education flexibility. Measures whether the education system can adapt hays.ca 2449 Luxembourg Lisboa hays.ae Hong kong luxembourg@hays.com lisboa@hays.pt to meet organisations’ future talent needs, particularly in the field of • overall wage pressure. Whether wages are keeping pace with inflation, maths, science and literacy. A high score means there is limited potential which is a measure of overall labour market tightness. A high score Wage pressure Labour market 5.1 chile T +852 2521 8884 hays.lu hays.pt united kingdom T +56 (2) 449 1340 F +852 2521 8499 T +44 (0)203 465 0000 or capacity to increase education performance and output. A low score means real wages are increasing quickly relative to the longer term. in high-skill participation F +56 (2) 449 1340 Unit 5805-07, 58th Floor Malaysia russia F +44 (0)203 465 0001 industries Cerro El Plomo 5630 The Centre T +603 2786 8600 T +7 495 228 2208 4th floor indicates there is considerable scope to expand the output and quality of A low score means real wages are not rising quickly (or are even Of. 1701 99 Queen’s Road Central F +603 2786 8601 F +7 495 228 2500 107 Cheapside the local educational system. declining) relative to the longer term. P.O. 7560742 hongkong@hays.com.hk Level 23 Citydel Business Center London Wage pressure Las Condes, Santiago hays.com.hk Menara 3 Petronas 9, Zemlyanoy Val EC2V 6DB • labour market participation. Measures the degree to which a country’s • wage pressure in high-skill industries. The rate at which wages in in high-skill Labour market chile@hays.cl KLCC 50088 105 064 Moscow customerservice@hays.com hays.cl Hungary Kuala Lumpur moscow@hays.ru hays.co.uk talent pool is fully utilised. A high score means that the proportion of high-skill industries outpace those in others. A high score means wages occupations flexibility T +36 1 501 2400 kualalumpur@hays.com.my hays.ru working age people that are employed (or are available for immediate in high-skill industries are rising much faster than in low-skill industries. china F +36 1 501 2402 hays.com.my united states work) is not increasing, indicating constraints on the availability of A low score means wages in high-skill industries are not rising faster than Talent mismatch T +86 (0)21 2322 9600 Eiffel Tér Irodaház T +1 201 209 2870 F +86 (0)21 5382 4947 1062 Budapest F +1 201 433 3358 additional resource. A low score means that the participation rate reflects in low-skill industries. LOW PRESSURE HIGH PRESSURE Unit 3001 Teréz krt. 55-57. 30 Montgomery Street the increasing availability of talent to join the workforce. Wheelock Square B torony 2. Emelet Suite 680 • wage pressures in high-skill occupations. A measure of wage premium No. 1717 West Nan Jing hungary@hays.hu Jersey City, NJ 07302 • labour market flexibility. Assesses the legal and regulatory paid in high-skill occupations ,which is an indicator of shortages of key 0.0-0.9 1.0-1.9 2.0-2.9 3.0-3.9 4.0-4.9 5.0-5.9 6.0-6.9 7.0-7.9 8.0-8.9 9.0-9.9 10.0 Road, Shanghai 200040 hays.hu recruit-us@hays.com shanghai@hays.cn hays-us.com environment faced by businesses. A high score means the labour talent. A high score means wages in high-skill occupations are rising hays.cn market legislation is judged to be inflexible and there are constraints faster than in low-skill occupations. A low score means wages in high-skill the analysis on which the Hays Global skills index was based on the ability of inward migrants to fill talent gaps. A low score means occupations are not rising faster than in low-skill occupations. the labour market legislation is judged to be flexible, with an openness utilised data as of Q3 2012. developments subsequent to this these seven criteria are all given equal weighting. to immigration. date are not reflected in the 2012 findings. © Copyright Hays plc 2012. HAYS, the Corporate and Sector H devices, Recruiting experts worldwide, the HAYS Recruiting experts worldwide logo and Powering the World of Work are trade marks of Hays plc. The Corporate and Sector H devices are original designs protected by registration in many countries. All rights are reserved. The reproduction or transmission of all or part of this work, whether by photocopying or storing in any medium by electronic means or otherwise, without the written permission of the owner, is restricted. The commission of any unauthorised act in relation to the work may result in civil and/or criminal action. PLC–5886. hays.comPLC-5886_Hays_GPS_Index_Poster.indd 1 06/11/2012 12:30
  • 2. In partnership with: The HAYS Global Skills INDEX 2012 AUSTRALIA Belgium Brazil Canada China Czech Republic Denmark France Germany Hays Global Skills Index 5.9 Hays Global Skills Index 3.3 Hays Global Skills Index 5.7 Hays Global Skills Index 5.6 Hays Global Skills Index 5.5 Hays Global Skills Index 4.6 Hays Global Skills Index 4.3 Hays Global Skills Index 4.5 Hays Global Skills Index 6.4 Due to Australia’s robust economic The fragile state of Belgium’s economy Although Brazil’s economy is relatively Despite a positive economic outlook, The biggest challenge for China’s The labour market is in good shape but Despite lacklustre economic growth and Although France’s economy has slowed Germany’s economy has performed well, performance during the financial crisis, and moderately-high unemployment rate healthy, the biggest challenge lies with Canadian employers are facing a talent labour market is its relatively inflexible there are some early signs of rising wages increasing unemployment, Denmark’s dramatically, the labour market is but employers are facing increasing overall wages are rising which indicates means overall wages are falling slightly. labour market regulations. The inflexible mismatch. There is a good pool of labour laws and large-scale outward in high-skill industries. Looking ahead, the labour market is performing moderately performing moderately well. The main difficulties in finding sufficient numbers that organisations face difficulties in Notably, wage differences between labour market, along with outward available workers, but employers are migration of skilled workers. As a result, education system will need to improve to well. Wage pressures among high-skill challenge for the labour market is the of high-skilled workers. This is particularly recruitment and retention due to high-skill and low-skill industries have migration, means that employers face finding it increasingly difficult to fill overall wages will rise and employers meet the anticipated future demand for occupations suggest skills shortages for costly legal and regulatory burden faced evident in increasing wage levels in shortages of qualified workers. This is fallen, indicating there are strong pools of difficulties in recruiting workers. certain posts, particularly in high-skill will have a more difficult time finding high-skill workers. key talent. by employers. high-skill industries. being felt most acutely in high-skill candidates for many sectors. industries. qualified workers. industries. Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Fragility of economy 5.4 Fragility of economy 8.1 Fragility of economy 5.1 Fragility of economy 6.2 Fragility of economy 6.4 Fragility of economy 6.8 Fragility of economy 6.4 Fragility of economy 9.0 Fragility of economy 3.5 Australia’s government finances and Deterioration in the government’s At current and forecast rates of Recent deterioration in government Growth, while remaining high by US and Weak government finances and lacklustre Deteriorating government finances and a Sharp deterioration in government Strong exports and improving exports appear sustainable, indicating that finances, coupled with anaemic growth, economic growth, government finances finances and exports indicate fragility. European standards, has eased and is growth points to vulnerability to further slow recovery from the sharp recession of finances and exports indicate fragility. government finances indicate underlying the economy is not overly vulnerable to indicates economic fragility will remain. and exports look sustainable, which However, robust growth forecasts forecast to moderate. Meanwhile, Eurozone shocks. 2008-2009 points to underlying Despite an economic rebound since strength. Despite this, the German external shocks. means the economy appears well placed indicate an improving outlook over the government finances and exports are economic fragility. 2009, growth remains anaemic. economy remains vulnerable to spillovers to weather external shocks. next few years. forecast to weaken. from the Eurozone crisis. Health of economy 7.3 Health of economy 7.3 Health of economy 5.0 Health of economy 5.2 Health of economy 4.9 Health of economy 6.7 Health of economy 8.5 Health of economy 8.5 Health of economy 6.5 Although GDP growth has eased as a Persistent inflation in a weak economy Despite a recent tick down, growth is The Canadian economy is running with While fragility indicators point to Despite a rebound since 2010, growth Compared to some Nordic countries, The economy is operating with lower Germany’s economy has performed well in result of lower demand from emerging presents a difficult economic situation forecast to return and inflation to lower output while inflation remains increasing vulnerability, and there are early has eased off and inflation remains as a Denmark’s economy has struggled, employment and output, but inflation the face of strong headwinds. Early signs markets, the rate of inflation remains for Belgium. remain contained. moderate. indicators of economic weakening, concern. weighed down with unemployment, remains a concern. The outlook of a slowdown in growth and of hidden moderate. inflation remains benign. inflation and subdued growth. inevitably remains dependent on inflation pose a risk looking ahead. developments in the wider Eurozone. Hong Kong Hungary India Ireland Italy Japan Mexico Netherlands New Zealand Hays Global Skills Index 3.7 Hays Global Skills Index 6.1 Hays Global Skills Index 4.2 Hays Global Skills Index 4.4 Hays Global Skills Index 3.3 Hays Global Skills Index 5.3 Hays Global Skills Index 5.9 Hays Global Skills Index 4.2 Hays Global Skills Index 4.8 The labour market is performing well, Mounting wage pressures in key India’s economy is vulnerable to As the economy struggles to regain With the economy in recession, wages Japan’s economy faces an improving Reflecting the economy’s good recent Although wages have not kept up with Reflecting the weak state of the with the unemployment rate lower than high-skill industries is symptomatic of economic shocks, but it has a relatively its foothold in the aftermath of the have not kept pace with inflation. Italy macroeconomic environment, but a lack growth performance, wage pressures inflation and unemployment is economy, wages have not kept pace before the financial crisis. Hong Kong talent shortages. Hungary suffers from well-performing labour market. While financial crisis, real wages are falling. also suffers from weaknesses in its of openness to immigration, combined have been building in high-skill increasing, the decline in long-term with inflation. Despite this, employment also benefits from a flexible labour talent mismatch, linked to a weak employers continue to be held back by A severe problem facing the Irish labour education system and an inflexible with a strong talent mismatch means industries, a sure sign of skill shortages unemployment is a positive sign. has held up, but wage pressures in market and a well-educated workforce. education system. red tape, the education system is market is a talent mismatch, linked with labour market, but there are no talent that employers may face an increasingly in key sectors. This problem, combined Despite the weak economy, wage high-skill industries indicate skill Rising wages in high-skill industries, improving. a moderate increase in wages in mismatch issues. harder time filling posts. with significant outward migration, will pressures in high-skill industries shortages for key talent. linked with a moderate talent mismatch, high-skill occupations. increasingly pose a challenge. suggest increasing skill shortages for present the main challenge. key talent. Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Fragility of economy 5.3 Fragility of economy 7.0 Fragility of economy 8.3 Fragility of economy 7.9 Fragility of economy 8.0 Fragility of economy 6.8 Fragility of economy 4.9 Fragility of economy 6.5 Fragility of economy 7.1 Exports and government finances appear Sharp deteriorations to exports and Exports have markedly deteriorated in Growth has tipped back into negative Despite some evidence of improvement, Japan’s government finances remain There is a mixed picture of improving The fragility score reflects the recent Deterioration in the government’s sustainable at current growth rates. government finances reflect weak recent years, while government finances territory, while sharp deteriorations to exports and government finances remain weak, while its exports have deteriorated exports but weakening government deterioration in government finances, finances, low exports, and muted growth domestic demand and a precipitous fall remain weak. exports and government finances is weak, indicating vulnerability to further in recent years. Growth is expected to finances. coupled with weak consumer demand. all point to underlying fragility. in the exchange rate. indicative of the current fragility of the external shocks. remain around 2% for the next few years; economy. while modest, this is above the recent historic average. Health of economy 7.2 Health of economy 7.8 Health of economy 5.4 Health of economy 9.3 Health of economy 7.4 Health of economy 6.8 Health of economy 5.0 Health of economy 7.2 Health of economy 6.2 The economy is operating close to full Weak consumer demand is weighing Although growth has eased since its peak In the wake of 2008-2009 recession, The economy will perform poorly this The economy is operating with a Growth levels are close to recent The economy is in recession, with The economy is operating with high employment and output, but there is down on economic growth. Inflation in 2007, the economy is operating close the economy has languished. Consumer year, with GDP forecast to fall by 2.3%, substantial margin of low output. There historical averages, and there are forecasts pointing to continued weakness unemployment and lower growth, evidence of mounting inflation. remains subdued by historical standards. to full employment and inflation is easing. price inflation, whilst contained, is while inflation remains elevated. is some evidence of rising inflation – for reassuring signs that inflation remains over the next few years. Inflation remains while inflation remains elevated. trending upwards. an economy prone to deflation, this is a under control. elevated but is expected to ease. positive development. Poland Portugal Russia Singapore Spain Sweden Switzerland United Kingdom United States Hays Global Skills Index 5.2 Hays Global Skills Index 5.3 Hays Global Skills Index 5.7 Hays Global Skills Index 5.1 Hays Global Skills Index 5.5 Hays Global Skills Index 6.1 Hays Global Skills Index 5.4 Hays Global Skills Index 5.0 Hays Global Skills Index 6.4 The Polish economy is weathering the Portugal’s economy is struggling in the Although the economy is performing Singapore’s economy shows signs of In the wake of a banking and Mounting wage pressures in high-skill While economic growth has eased off The economy, buffeted by the financial A jobless recovery and an increasing financial and Eurozone crisis, although wake of severe government spending robustly, skill shortages will persist overheating, resulting in rising inflation. government fiscal crises, the economy is industries indicate shortages of key recently, wage pressures remain. Given and Eurozone crisis, faces a severe talent number of long-term unemployed are mounting wage pressures in high-skill cuts. Despite the slowdown, wage unless reforms are undertaken to Wage pressures are mounting, especially in recession and unemployment is very workers. A relatively inflexible labour Switzerland’s success at attracting key mismatch where the high proportion of pressing issues. Persistent wage industries indicate shortages pressures remain in high-skill industries, improve the education system, lessen in high-skill industries and high-skill high. Yet skill shortages persist with market also exacerbates the effect of the foreign talent, skill shortages are unlikely unemployed out of work for over a year pressures in high-skill occupations is in key talent. reflecting shortages of key talent. red tape and inject more competition in occupations. wage pressures in high-skill industries. talent mismatch. to become acute. poses a serious threat to employability further evidence that organisations are home markets. and skills. finding it hard to find key talent despite the weakness of the economy. Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Macroeconomic Indicators Fragility of economy 5.1 Fragility of economy 7.0 Fragility of economy 5.2 Fragility of economy 6.5 Fragility of economy 8.4 Fragility of economy 4.7 Fragility of economy 3.0 Fragility of economy 7.9 Fragility of economy 6.9 Fragility indicators suggest that, while Portugal is vulnerable to contagion from Government finances have improved, Relative to historical norms, growth and Spain remains highly vulnerable to Balanced government finances and good Favourable government finances and Compared to historic norms, growth Whilst economic growth remains the Polish economy remains robust, the on-going Eurozone crisis. whilst net exports, albeit lower than in the government finances look weak. Exports contagion and shocks spreading from the exports provide Sweden with some exports position Switzerland favourably and government finances are subdued, government finances and favourable export levels and government recent past, are positive. are strong, but the outlook is for the Eurozone crisis. measure of protection against any fallout to withstand any further fallout from exceptionally weak. exports indicate vulnerability to further finances have begun to unwind. trend to decrease. from the Eurozone. Eurozone crisis. negative shocks. Health of economy 5.5 Health of economy 8.0 Health of economy 5.3 Health of economy 8.2 Health of economy 9.1 Health of economy 6.4 Health of economy 6.8 Health of economy 7.5 Health of economy 8.1 Recent economic data suggests that Government spending cuts are placing There is a benign outlook of sustained There are signs of economic overheating, Spain is undergoing a painful adjustment After a strong rebound post-2009 While the economy is performing well The economy is operating with low The economy is operating with high Poland’s economy is entering a gradual severe pressures on the economy, which is economic growth and contained inflation. coupled with rising prices. as it attempts to cut spending and recession, the growth rate is easing off, compared to many of its neighbours, output, and whilst inflation remains unemployment and elevated inflation slowdown. struggling to overcome deep seated increase economic output while retaining but there are signs that inflation remains growth has eased off and there are elevated, it is easing. levels. structural problems. the confidence of international creditors. contained. indicators that the Eurozone crisis is weighing down on export growth. Hays Global Skills Index Key LOW PRESSURE 0.0–0.9 1.0–1.9 2.0–2.9 3.0–3.9 4.0–4.9 5.0–5.9 6.0–6.9 7.0–7.9 8.0–8.9 9.0–9.9 10.0 HIGH PRESSURE The analysis on which the Hays Global Skills Index was based utilised data as of Q3 2012. Developments subsequent to this date are not reflected in Macroeconomic Indicators Key the 2012 findings. STRONG ECONOMY WEAK ECONOMY 0.0–0.9 1.0–1.9 2.0–2.9 3.0–3.9 4.0–4.9 5.0–5.9 6.0–6.9 7.0–7.9 8.0–8.9 9.0–9.9 10.0PLC-5886_Hays_GPS_Index_Poster.indd 2 06/11/2012 12:30