ZRG Partners’ Quarter 3 Global Equipment Leasing and Finance Hiring Index
Q3 Hiring Levels Show Global Slowdown in Hiring in Equipment Leasing and Finance
The summer months are bringing less opportunity around the world for employees in the equipment leasing and commercial finance sectors. After a slight increase in demand posted in the second quarter of this year, the latest release of the ZRG Partners Global Hiring index showed a drop of 11% in hiring demand, following the larger macro trends impacting companies around the world.
The Eurozone shows lack of headcount growth with 23% drop
Lending in Europe is showing clear signs of slowdown. France continues the steady hiring decline, dropping another 15% this quarter and is down 45% from hiring levels entering this year. Germany has followed suit with four straight quarters of declines in hiring, adding another 12% drop this quarter. The UK retreated this quarter with 32% drop in opportunities after three straight quarters of steady growth.
China hiring backing off quickly with 31% decline
Hiring in China is cooling off quickly as the region posted a significant drop in job openings. While there have been several published reports of general slowdowns in China, an Off-Highway Research report indicated a 37% drop in construction equipment sales in China, which correlated closely to the 31% quarter over quarter decrease in hiring demand.
The Growers: Brazil and Chile are seeking talent
Brazil and Chile are two regions bucking this quarter’s trend as both areas showed more demand for talent. The United States also boasted a slight increase for the quarter, reflecting the need for asset growth with many lenders. India posted a slight increase in hiring levels as well.
The Tale of Two BRIC’s: Half Rising / Half Falling
Overall hiring in the BRIC countries was off 21% this quarter. Half the BRIC countries showed positive signs, with Brazil and India hiring while Russia and China were off by double digits.