Nomura Hires Most Graduates in 4 Years on Japan Recovery
A lot of signs are culminating to indicate that Japan is over the worst and moving on to a greener economy. Japan’s Prime Minister has already announced his commitment to an aggressive monetary policy and ensuring that Japan grows rather than deflates. Now, hiring is up at Japanese brokerages, specifically, hiring is up for the young college graduates.
University graduates reached a record low employment rate in 2011, but the numbers have increased for a second year as they begin to find more success in their job search efforts. Also, the unemployment average for the younger workforce was higher than the average overall, but that seems to be changing as the brokerages are announcing increased hiring through 2014. While some banks, such as SMBC and Mizuho, have actually decreased hiring for the year, they have said that they intend to increase hiring later on. Another factor in explaining why banks are eager to hire more is that recent graduates are accustomed to a post Lehman Brothers environment and can adapt to new financial models due to new regulations, unlike the older generation of bankers.
I feel that the news of an improving economy, besides the U.S. economy, is great news. The E.U. is obviously not faring well, and I still have worries about China’s potential peak, although the Asia region seems to be going through a lot of changes for the better. However, the hiring is concentrated in only one area of the banks, and it would be better if the hiring was across the board.