Nearly one year after Japan’s devastating earthquake, the region continues to recover. But the picture was less bright in other parts of Asia-Pacific, as the economy slowed.

China:
China’s year-to-year Consumer Price Index (CPI) has steadily declined throughout the last few months. Back in August 2011, the nation’s CPI was 6.2 percent; by December it had dropped to 4.1 percent. Prior to the beginning of 2012, many economists had believed the downward trend would continue in January, projecting the CPI would decrease from 4.1 to roughly 3.9 percent. However, the trend reversed in January and the CPI rose to 4.5 percent, leading to uncertainty about country’s economic future.

Japan:
For the third consecutive month, Japan’s consumer confidence index increased. In December the index had been measured at 38.1, slightly lower than January’s final index of 39.6. Still, each of these indexes pale in comparison to the measurements that had been acquired before the global recession occurred in 2008. At that time, the index had generally hovered around 45 until the bottom fell out in January 2008. During that month, the index plummeted to 26.2, an all-time record low. As the economy continues to recover from last year’s natural disasters, economists believe the index will slowly improve throughout the coming months.

South Korea:
In January, South Korea’s long-term trade surplus is now a deficit of nearly $2 billion. Prior to January, the nation’s trade surplus had increased by $3.9 billion, $3 billion, and $3.4 billion in October, November, and December, respectively. As a result, many economists, including professionals from Moody’s Analytics, had projected the country’s foreign trade balance would rise by roughly $3 billion. Now economists are currently left shrugging their shoulders, unsure of what may – or may not – transpire in February and beyond.

Taiwan:
Throughout the last two months, Taiwan’s year-to-year CPI has risen considerably. From January 2011 to January 2012, the measurement increased by 2.37 percent. In addition, the country’s CPI rose by two percent from December 2010 to December 2011 – clear signs that inflation is beginning to inch upward. In the meantime, export, import, and wholesale prices escalated in January on a year-to-year basis as well, by 4.35, 7.6, and 4.28 percent, respectively.

Thailand:
The Bank of Thailand slashed interest rates by .25 percent in January, the first cut since November 2011 when rates had been reduced to 3.25 percent. Last month, rates contracted to three percent during the bank’s monthly policy meeting. As the country continues to recover from last year’s flooding, which severely disrupted global supply chains, many economists fear the nation’s interest rates will be cut yet again in the near future.

Slower growth in Asia Pacific as recovery continues is a post from: LHH Workplace Economy

On February 3rd, millions of Americans celebrated one of the most positive jobs reports that have been released since President Barack Obama was inaugurated more than three years ago. According to the BLS’s “The Employment Situation – January 2012” report, roughly 243,000 jobs were added to the national economy in January. The BLS also found that the United States’ unemployment rate had fallen to 8.5 percent – the fifth consecutive month in which the rate has declined. The United States has not recorded such an optimistic streak since 1994.

Meanwhile, as the United States’ neighbors, Canada and Mexico, currently recover from weakened economies as well, some global economists are concerned that each of the nations’ recoveries are progressing at a slower pace than had originally been predicted. Unemployment is still quite high. Inflation is still impacting the livelihoods of millions of families. And, citizens’ confidence levels are still very low.

But, did either of the two countries report encouraging news in January? Are there any signs that economic recovery will continue in 2012? Read on for reports from Canada and Mexico.

Canada:
According to recently released figures, Canada’s labor force was comprised of approximately 18.8 million citizens in January. Of these individuals, about 17.4 million were employed on either a part-time or full-time basis. In addition, nearly 14 million Canadians were working full-time and receiving annual salaries or were being paid according to the total amount of hours in which they worked. In the meantime, although 2,300 positions were added to the national economy in January, the country’s unemployment rate rose to 7.6 percent last month. Prior to January, Canada’s jobless rate had ranged from 7.2 to 7.5 percent throughout the second half of 2011.

Furthermore, the Bank of Canada’s benchmark interest rate remained at one percent for the 17th consecutive month. A majority of economists, both within and outside of Canada, had anticipated that the rate would not change. And, unfortunately, the bank’s deposit and bank rates did not increase or decrease either, as they remained at 0.75 and 1.25 percent, respectively. There are currently no signs that any of these rates will be raised or lowered anytime soon, at least within the next three to six months.

Mexico:
Ever since the end of the Great Recession in 2009, Mexican residents have been especially concerned with one aspect of the nation’s economy – high inflation rates. And, unfortunately, their concerns only intensified last month, as the country’s Consumer Price Index (CPI) rose by four percent from January 2011 to January 2012, a .02 percent upturn from December’s year-to-year CPI of 3.8 percent. Mexico’s CPI has now expanded for five successive months – and has not been lower than 3.1 percent since July 2011.

Additionally, one characteristic of Mexico’s economy stayed the same again last month – the Central Bank Rate. The Bank of Mexico has not expanded or contracted this rate at all since August 2009, an astonishing 29 straight months. And, of particular interest, the rate has lingered at 4.5 percent throughout the last two-and-a-half years. Currently, the bank’s neutral nominal rate is about 6.5 percent.

US:
For more information, please visit www.workplaceeconomy.com.

While some gains are made, unemployment remains high in North America is a post from: LHH Workplace Economy

As citizen protests continue, the value of the euro declines, and the threat of a double-dip recession looms, millions of European residents are coping with growing concern. Many fear they may have no choice but to leave the region altogether and begin an entirely new career thousands of miles away from their homes. Others are concerned about the financial futures of their children and grandchildren, unsure of their future as economic insecurity worsens.

Germany:
Throughout the second half of 2011, Germany’s unemployment rate hovered around 7 percent, before eventually dropping to 6.8 percent last December. The nation’s jobless rate continued to drop in January, falling to 6.7 percent. In all, 2.8 million residents were without work last month, about 340,000 less than in December. Prior to January’s findings, a majority of economists had believed the rate would increase. As Germany’s economy remains quite weak, many economists still anticipate the rate will begin to increase throughout the next few months.

France:
Business confidence in France remained low in January – sliding lower than December. According to recently released figures, the country’s composite indicator for business confidence in manufacturing fell to 91 in January, three points lower than it had been in December. The indicator, which, on average, is typically measured at 100, has not been this low since February 2010, when global economic recovery had just begun.

Italy:
In Italy, consumer confidence remained the same in January. At 91.6, the country’s total consumer confidence measurement is well below July’s rate of 100 – and, in general, has been declining ever since last summer. Of note, Italy’s consumer confidence has not been this low in years. In fact, it is near the lowest level that has been reported since 2008, a year in which the global recession was impairing consumer confidence levels in dozens of nations around the world. Meanwhile, Italy’s personal and current consumer confidence measurements increased on a monthly basis in January, from 97.3 to 97.9 and from 98.4 to 102.3, respectively.

Russia:
The annual inflation rate in Russia declined from 6.1 percent in December to 4.2 percent in January. As a result, the nation’s central bank’s interest rates remained unchanged as of early February. In total, the bank’s refinancing rate was eight percent, while its overnight auction-based purchase price was 5.25 percent.

United Kingdom:
Despite Europe’s ongoing financial woes, consumer confidence actually increased in the United Kingdom, from -33 in December to -29 in January, surprising worldwide economists and Moody’s Analytics who had projected that confidence levels would fall to -35 last month. However, most economists do not believe such positive news will be sustained, especially as the threat of a double-dip recession looms throughout many European nations.

As the euro continues to devalue, Europeans remain concerned about their financial futures is a post from: LHH Workplace Economy

Much like the BLS’s “The Employment Situation – January 2011” report offered proof that the economy was indeed beginning to show signs of growth, the company’s most recent “Metropolitan Area Employment and Unemployment” report was quite reassuring to national organizations, employees, and unemployed Americans as well.

Released on February 1st and depicting employment figures from last December, the report found that unemployment had decreased in 329 of the nation’s largest metropolitan areas from December 2010 to December 2011.

The report also revealed that unemployment had remained unchanged on a year-to-year basis in seven areas, while jobless rates had increased in 36 areas. In addition, 66 areas had unemployment rates of 10 percent or higher, while 125 areas had much lower unemployment rates, at seven percent or below.

Additionally, El Centro, CA and Yuma, AZ once again led all metropolitan areas in terms of high unemployment, with jobless rates of 26.8 and 23.1 percent, respectively. At the same time, Bismarck, ND and Lincoln, NE, recorded the nation’s lowest unemployment rates, at 3.2 and 3.6 percent, respectively.

Furthermore, the BLS released the following regional employment and inflation statistics from the month of December –

Source: BLS

• Mid–Atlantic: At 10.4 percent, the District of Columbia’s unemployment rate remained above the national average in December, although it had steadily decreased throughout the last five months of 2011. Back in August, it had been as high as 11.1 percent. (Link)
• Midwest: In Dayton, Ohio, employment rose in various industries, including professional and business services and trade and transportation, just in time for the holiday season. From December 2010 to December 2011, employment increased by 4.8 and 2.9 percent, respectively. (Link)
• Mountain-Plains: Unemployment was quite low in Salt Lake City, UT last December. The jobless rate was only 5.4 percent, a significant decrease compared to July’s rate, which was 7.5 percent. (Link)
• New England: Although employment hardly increased in most industries within the greater Burlington, VT, area, employment rose in manufacturing by 2.1 percent and in mining, logging, and construction by 12.8 percent, from December 2010 to December 2011. (Link)
• New York–New Jersey: The greater New York City area’s Consumer Price Index for All Urban Consumers (CPI-U) and Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased from December 2010 to December 2011, by 2.7 and three percent, respectively. (Link)
• Southeast: In December, Sumter, SC’s unemployment rate was approximately two percentage points higher than the national rate. However, at 10.3 percent, the rate was much lower in December than it had been in July, when it was 12.2 percent. (Link)
• Southwest: Well known for having one of the nation’s highest unemployment rates, at least in terms of large cities, Las Vegas’s jobless rate gradually decreased throughout the last five months of 2011, from 14.3 percent in August to 12.7 percent in December..(Link)
• West: The greater Los Angeles area’s CPI-U and CPI-W each increased from December 2010 to December 2011 by 2.2 percent. (Link)

Metropolitan unemployment figures were encouraging in December is a post from: LHH Workplace Economy

Budget constraints. Talent shortages. The ebb and flow of the global economy. These are just a few of the coutless issues that employers are facing on a daily basis. Unfortunately, as companies attempt to implement new strategies to succeed in today’s uncertain economic conditions, many tend to forget about one crucial concern that will likely influence their abilities to prosper in the future – employee loyalty.

There once was a time, in the not so distant past, when employees were extremely loyal to their companies. Many workers chose to stay at one company throughout their entire careers, while a majority of employees remained loyal for upwards of 10, 20, or even 30 years.

Such loyalty is now nearly nonexistent and, according to a recent survey conducted by Lee Hecht Harrison, a lack of fair treatment may be the culprit.

When asked, “Do you feel your company treats employees fairly?,” nearly 50 percent of all respondents either stated “sometimes,” “rarely,” or “never,” a shocking finding when one considers the fact that, throughout our nation’s history, a majority of American organizations have been well-regarded for their treatment of employees and for the dependability they received in return.

Upon evaluating the results of the survey, Peter Alcide, president of Lee Hecht Harrison, said, “Employees want to feel valued and appreciated for their contribution in the workplace. If employees don’t feel they are being treated fairly, you can assume they aren’t going to give their best effort.”

He added, “As leaders navigate in this unpredictable environment, they must ask themselves what steps they can take to minimize the effects of uncertainty and ensure their employees feel valued.”

So how can organizations once again improve their employee loyalty levels? How can they ensure their employees feel valued so that they will work to the best of their abilities?

Lee Hecht Harrison believes that nationwide employee loyalty can be vastly improved if organizations focus on the following four goals –

Initiate and Develop. As organizations hire new talent, they must have proper orientation programs established in order to train them, help them become acclimated to company policies, and feel welcomed as a member of the company’s family of employees from day one. By focusing on each individual’s specific talents and career goals, companies can rest assured that new employees will feel connected to and appreciated by their fellow colleagues.

If employees have been on payroll for an extended period of time – at least six months – and are interested in continuing their careers with their present employers, companies should offer top talent an array of opportunities to cultivate their abilities, acquire new skills, and receive regular advancements.
If organizations are not willing to take the time to nurture their most capable employees and prove to them that they have a long-term employment future, some other organization will – and employees will likely be willing to develop their talents elsewhere.

Improve Communications. As technology continues to progress, it seems that face-to-face communication is being replaced with chat rooms, emails, and conference calls within many workplaces. Nevertheless, despite technological developments, a majority of employees still prefer direct communication with their employers, especially if they have questions or concerns regarding pay and benefits, their roles within the company, and the ways in which their efforts are positively impacting their companies as a whole.

To help employees feel appreciated, supervisors should establish weekly or bi-weekly meetings in which employees can ask questions, discuss their career goals, and understand why their positions are highly valued.

Employers must mentor their workers, help them achieve their career goals, and listen to their needs. In doing so, employees will be better prepared to succeed in whichever roles they are offered.

Empower. Far too often, innovative, gifted employees have many unique ideas that could possibly help companies achieve higher profit margins and acquire a larger customer base, but, regrettably, many workers never share their thoughts with their supervisors or company executives.

Some employees may feel uncomfortable with the notion of bringing ideas to their employers. Others may be afraid to offer their suggestions, believing their thoughts will be rejected or even ridiculed, simply because they feel they are treated only as “a number” rather than as a person.

But how can companies change such perceptions? First, they must take the time to listen to their employees’ suggestions and consider how such ideas can improve their companies’ capabilities and expand their bottom lines. They should then allow employees to actually develop their ideas and oversee their own projects themselves. In doing so, employees will become more confident in their own abilities, feel more valued for their efforts, and witness the significance of their concepts firsthand.

Reward and Recognize. As employee morale tends to remain quite low within many organizations, workers should receive as much recognition as possible in order to boost their spirits and motivate them to strive forward.

For some employees, recognition should be offered in the form of extra vacation time, bonuses, or a more uniform work-life balance. For others, a simple “thank you” via a card, an email, or even during a meeting or a casual conversation will improve their drive to succeed within their present companies.

Such recognition should know no boundaries either. By sharing their employees’ achievements with company executives, supervisors can help their employees receive raises or promotions. And by regularly rewarding and recognizing top talent for their hard work and accomplishments, employers will be able to retain and nurture their most valued employees’ talents for years to come.

Improve employee loyalty throughout 2012 – and beyond is a post from: LHH Workplace Economy

Let’s face it. The once closely knit relationship between employers and employees has come unraveled in recent years. As a workforce that once prided itself on its longstanding virtues of hard work, perseverance, and loyalty, employees throughout the United States have now become more focused on personal goals, rather than corporate objectives.

American workers have a greater sense of independence and a desire to not only make money, but to utilize their talents to change the world – and they simply no longer feel the need to stay with one company on a long-term basis in order to do achieve their fiscal and personal dreams.

So what happened? Why has employee loyalty contracted to the point in which it is now nearly extinct within a majority of the nation’s companies?

To seek answers to such questions, Lee Hecht Harrison conducted an online poll which focused solely on employee loyalty. According to poll results, the lack of faithfulness tends to boil down to one major issue – employees no longer feel “loved” by their employers.

The poll found that 50 percent of respondents believe they are not treated fairly by their employers.
They are being overworked, underpaid, and are receiving less incentives for their efforts than they ever have before. And they have had enough.

As a result, they are searching for new employment opportunities with other organizations – and even with their current companies’ competitors! Many are even considering the prospects of working in a completely independent fashion altogether and using the training and experience they have received within their present companies to transform their dreams of entrepreneurship into reality, despite the uncertainty of the global economy.

But how did employee loyalty suddenly become an “old wives’ tale”? What led such a faithful American workforce to become anything but?

Many believe the endangerment of employee loyalty was set off by a string of events that began just five years ago – the Great Recession.

During that period of time, stocks fell to near all-time lows. Fannie Mae and Freddie Mac almost collapsed. Two of the world’s largest automotive manufacturers – General Motors and Ford – nearly shut down their operations. And employment began to deplete to levels that had not been witnessed since the early 1980s.

Companies panicked. Budgets were slashed. And organizations were forced to implement initiatives in order to cut costs as much as possible.

Soon enough, many companies terminated corporate outings, out-of-state and out-of-country business meetings, and various events that bonded employees and expanded their capabilities to collaborate effectively as team units.

Longstanding employees were soon laid off and without any warning. Holiday bonuses were either cut from companies’ pay plans or reduced exponentially. Extensive vacation packages could no longer be offered, while healthcare benefits were sliced in half within many organizations.

Wages were frozen while employees were forced to conduct the tasks of their fellow colleagues, who had been laid off, on top of the responsibilities they already had. Most employees had no choice but to work for more hours than they ever had before, yet some did not even receive overtime pay for their efforts.

In short, to stay afloat and remain competitive in the midst of financial storms, employers eliminated many of their companies’ most desirable traits, which had attracted their workers in the first place.

By focusing solely on numbers instead of on their hard-working individuals, organizations established a trend which has hardly improved since – employees are no longer rewarded or recognized for their efforts, are unmotivated to regularly perform well, and no longer have any reasons to remain devoted.

Can this trend eventually be overcome or is it too late? Will employee loyalty soon become nonexistent?

For information regarding the ways in which employers can begin to reverse this trend once and for all, please visit this month’s edition of In The Future.

Where’s the love? Employee loyalty continues to diminish is a post from: LHH Workplace Economy

For the first time in months, job growth was quite extensive throughout the private sector in January, according to the BLS’s latest “The Employment Situation” report.

Hiring statistics flourished in a majority of industries, including the following –

• Construction: Employment within the industry has risen by 52,000 since December. Of all construction positions, nonresidential specialty trade contracting opportunities were the most plentiful.
• Healthcare: The industry added 31,000 positions to the economy in January, with ambulatory care services and hospitals leading the way as the industry’s top two employers.
• Leisure and hospitality: 44,000 professionals were hired within the industry in January. A majority were employed in either drinking places or food services places.
• Manufacturing: Once again, manufacturing hiring continued to rise, as 50,000 professionals were freshly employed last month. Fabricated metal products and machinery organizations each hired roughly 11,000 employees in January.
• Mining: Yet again, the industry hired thousands of new employees, 10,000 in all, as a majority of new hires worked within various support activity capacities.
• Professional and business services: More than 70,000 workers accepted new employment opportunities within the industry in January. Employment services and accounting and bookkeeping led the way in terms of employment last month, as each industry hired 33,000 and 13,000 new employees, respectively.
• Wholesale trade: Ever since May 2010, the industry has added 144,000 jobs to the economy. 14,000 of those hires occurred in January.

Private sector job growth was wide-ranging in January is a post from: LHH Workplace Economy

After months of disappointment in regards to high national unemployment figures, the United States and Canada finally recorded some significant job creation in December. According to the BLS’ monthly jobs report, 120,000 new jobs were added to the national economy throughout the month, as the unemployment rate dropped to 8.5 percent for the first time since February 2009. And, although Canada did not document nearly as much job creation as the United States, the nation still noticed considerable employment increases in December, during a year in which monthly employment actually decreased multiple times.

Meanwhile, one statistic especially stood out from Mexico’s economic figures in December – inflation. For yet another month, the nation’s inflation was higher than usual, which continued to influence citizens’ monthly savings and capabilities to spend their salaries on entertainment, rather than just food, clothing, and shelter. Even as North America’s economy continues to recover, there are still no signs that inflation will improve during the coming months.

Canada:
Canada’s latest Labor Force Survey, regarding the nation’s employment in December, featured some of the most positive – and surprising – employment figures that had been recorded in months. First, employment rose by 17,500 throughout the month. Although monthly employment increases have been much higher in the past, many economists quickly pointed out that employment had declined by 19,000 just a month before that. Considering that, as well as the fact that employment decreased off and on throughout 2011, the year ended on quite a high note, at least in regards to employment.

However, in spite of such positive news, the unemployment rate actually rose to 7.5 percent, the highest it had been in months, likely due to population increases during the month. Nonetheless, Canada had not recorded a net increase in jobs since September, leaving many to believe the expansion in employment will continue throughout 2012.

Mexico:
While millions of Mexican citizens had much to celebrate at the end of 2011, including the upcoming new year, as well as time with friends and family, they certainly were not overjoyed by the fact that inflation increased yet again in December, as the year-to-year Consumer Price Index (CPI) rose all the way up to 3.8 percent, much higher than it had been throughout the second half of the year. In fact, Mexico’s CPI had not been any greater than 3.5 percent since June.

Each of the inflation figures, including total underlying inflation, underlying inflation for goods, and underlying inflation for services, were quite high in December, at 3.7, 4.5, and 3.0 percent, respectively. The underlying inflation for goods had lingered around 4.4 percent since June, but it increased by 0.2 percent in December. However, the total underlying inflation figure remained unchanged, while the underlying inflation for services percentage was lower in December than in November, although it was only 0.1 percent less. Of note, the nation’s central bank’s monetary policy did not change at all in 2011, as it retained its level for the 28th successive month. And, due to the current global economic climate, many economists do not believe the rate will change in early 2012 either.

US:
For more information, please visit www.workplaceeconomy.com.

North America reported significant job growth in December is a post from: LHH Workplace Economy

From 2007 to 2009, many worldwide economists and media outlets were especially focused on the economic downfall of the United States, fearing that, if recovery did not occur soon, several other countries would face an economic recession similar to, or even worse than, the United States. As we’ve seen, many countries’ economies, especially within Europe, ultimately encountered near economic collapse.

Today, while the United States’ arduous economic recovery remains a daily topic on international news programs, many world citizens are also concerned about the ever-faltering euro, as well as the deterioration of Europe’s economy, which could fail in 2012.

Consequently, business confidence remains very low. Consumers seem to have absolutely no confidence in their countries’ present financial situations and are even more concerned about their economic futures.

Currently, many questions linger within the minds of Europeans, as well as allies throughout the world. Will economic collapse actually occur in 2012? How can it be avoided? And, what can Europe’s friends and neighbors do in order to help the region prevent financial downfall? Now, arguably more than ever before, is the time for Europe’s allies to reach out and do whatever they can to save the region’s economy, before it is too late.

EuroZone:
As 2011 came to a close, many consumers and workers still had a lack of confidence. Some were likely uncertain about the future of the United States’ economy and the impact that it would have on their imminent livelihoods. Others worried that yet another natural disaster would strike Asia Pacific again, leading to less importation in 2012. And, of course, many others were concerned about Europe’s economic future, uncertain whether or not a recession would begin in December or soon after. Whatever the case, the Euro Zone’s economic sentiment index dropped to 93.3 in December, from 93.8 in November. It had not been that low since November 2009. The index actually declined throughout a majority of 2011; December was the 10th consecutive month that the index had fallen.

Italy:
In regards to business and consumer confidence, December was a very disappointing month for Italian workers and employers, at least in terms of the economy. After the country’s business confidence had remained unchanged for three straight months, at 94, the measurement dropped to 93 in December, the lowest it had been throughout the second half of the year. In fact, the rate had been as high as 100 in June. In the meantime, consumer confidence declined quite noticeably in December, even more so than the business confidence measure. From November to December, the rate decreased from 96.1 to 91.6, one of the lowest rates that had been documented in quite some time.

Russia:
Although inflation has been very high throughout the world in recent years, Russia actually recorded its lowest year-end inflation rate in 20 years back in December, a feat that helped ease some consumers’ worries, at least for the time being. From December 2010 to December 2011, the rate rose by 6.1 percent, about 0.7 percent less than it had risen from November 2010 to November 2011. Still, many economists do not believe the inflation rate will remain low for long. In fact, some have predicted that the rate will even begin to increase throughout the next couple months.

Spain:
Throughout the third and fourth quarters of 2011, Spain’s monthly business confidence measurements seemed to follow the pattern of a yo-yo – up and down, over and over again. In December, the measurement’s downward effect was recorded, as the business climate indicator decreased from -17 in November to -20 at the end of the year. The decline was likely due to the nation’s debt, as well as the rest of the world’s economic instability, which had showed signs of improvement earlier in the year, but had begun to dwindle again towards the end of 2011. All four of the country’s other business confidence measurements also dropped in December, including consumption and investment.

United Kingdom:
Throughout 2011, news networks around the world featured reports about Europe’s disparate economic crisis. Of course, much like most other nations throughout the globe, the United Kingdom has encountered its own economic ordeals in recent years and inflation has been impacted as a result. In December, the UK’s Producer Price Index (PPI) rose by 4.8 percent in comparison to December 2010. Although producer output prices are still high, input prices declined in December, by 0.7 percent, compared to November. Economists expect such price decreases in 2012 too, allowing the nation’s monetary policy to remain expansionary for the coming years.

As Europe strives to stay afloat financially, business and consumer confidence remain low is a post from: LHH Workplace Economy

For thousands of Asia Pacific residents, New Year’s Eve was a night to remember. To celebrate the beginning of a new year, many citizens gathered with family members and friends to watch the television coverage of various nations’ 2012 festivities, while others chose to light fireworks or simply relax and reflect on the past year.

There is little wonder why many citizens chose to celebrate the beginning of 2012. After all, 2011 had been one of the most challenging years they had witnessed in their lives. From the 9.0 magnitude earthquake that struck Japan in March to the devastating flooding that occurred in Thailand, the region’s multiple natural disasters were simply unparalleled in comparison to any that had ever occurred in a single year.

The natural disasters also created a financial earthquake, sending tremors throughout a faltering economy. Consequently, hundreds of Asia Pacific-based businesses lost millions of dollars, declared bankruptcy, or laid off thousands of their employees. However, the nation slowly, but surely rose from the rubble and destruction and rebuilt their lives and their businesses. And, as a result, the region’s economic progress was documented throughout the remainder of 2011. Hopefully, such progress will continue in 2012, and at a much faster pace, so that Asia Pacific can fully recover from the financial storms of 2011 and once again thrive within a stable, fruitful economy.

China:
For the third consecutive month, China’s Consumer Price Index (CPI) year-to-year percentage change had decreased in December. However, inflation still remained quite high within the nation, especially in comparison to 2010’s figures. In December alone, the country’s CPI was 4.1 percent higher than it had been at the end of 2010. And, unfortunately for the nation’s consumers, many other prices had risen even more from December 2010 to December 2011, including food prices, which had amplified by 9.1 percent.

Japan:
The results are officially in. The Bank of Japan’s Target Overnight Call Rate percentage did not rise or drop in 2011; it simply remained the same – at 0.05 percent. In fact, the rate has not changed since late 2010, when it had declined from 0.10 percent to its current level. The bank has taken very few chances lately in regards to its target interest rate for a variety of reasons, including Europe’s threat of economic collapse, as well as the present, uncertain conditions of many other countries’ economies, which have not yet fully recovered from previous recessions.

South Korea:
Despite many economists’ predictions that the nation’s unemployment rate would rise to 3.2 percent in December, the rate instead remained unchanged, at 3.1 percent, for the third straight month. Overall, 24,431,000 individuals were employed throughout the month as the country’s participation rate was 61.1 percent. In addition, 772,000 South Koreans were unemployed, roughly 12 percent less than in the previous month. Of equal importance, 72,000 more workers were employed in December than in November, the fourth time that total employment had increased on a month-to-month basis since May 2011.

Taiwan:
Unfortunately, the ebbs and flows of the global economy impacted a majority of Asia Pacific nations throughout 2011, including Taiwan, particularly in regards to trading capabilities and profits. Therefore, few economists were surprised that Taiwan’s monthly trade balance decreased quite considerably from November to December, likely as a result of global economic uncertainty. Back in November, the balance was measured at $3.2 billion, roughly $1 billion more than December’s balance of $2.3 billion. According to a year-to-year comparison, both import and export growth decelerated in December – by 2.7 and 0.6 percent, respectively.

Vietnam:
Once again, Vietnam’s monthly trade deficit expanded even further in December than it had in the previous month. Back in November, the deficit was $567 million, remarkably high, especially when one realizes that the deficit had declined to $160 million as recently as June 2011. Yet, the deficit continued to increase in December, by approximately $130 million, all the way up to $700 million. Meanwhile, as many countries were celebrating the holiday season and spending more money on gifts, the nation’s exports increased by 19 percent from December 2010 to December 2011. Such increases, albeit higher, were noticed throughout the year too, as exports escalated by 33 percent in 2011.

Asia Pacific prepares for a more stable economic future, while continuing to recover from 2011′s financial storms is a post from: LHH Workplace Economy