The foundit Insights Tracker (fit) for Malaysia showcases a positive trend in the country’s hiring environment. November 2023 sees a 12% year-on-year (YoY) increase in e-recruitment activity, signifying a robust job market.
Over the last quarter, a notable 4% growth has been observed, underlining a consistent and significant demand across various industries.
Hiring Trends by Industry (YoY figures)
Out of the ten industries monitored, seven displayed a positive annual increase in hiring for November 2023
In demand:
- Retail shows a striking 76% YoY increase, despite a MoM downturn due to reduced demand for foreign brands.
- Hospitality witnesses a 49% surge over the year, although there’s a recent dip.
- Engineering, Construction, and Real Estate experiences a remarkable 38% annual growth.
Facing Challenges:
- BFSI observes the most significant annual decline at 20%, impacted by global economic factors.
- Oil and Gas continues its negative trend with a 19% YoY fall.
- Advertising, Market Research, Public Relations, Media and Entertainment suffered a marginal 2% drop.
Hiring Trends by Functional Area (YoY figures)
The tracker reveals growth in seven out of ten functions
In demand:
- Hospitality & Travel dominates with a 90% increase, maintaining its position as a leading sector in job demand.
- Customer Service saw a significant 58% rise, indicating robust demand despite recent dips.
- Sales & Business Development enjoyed a solid 33% YoY growth.
Facing Challenges:
Finance & Accounts and Purchase/ Logistics/ Supply Chain professions face a downturn with -12% and -13% respectively.
On a positive note, Marketing & Communications roles see a 10% rise, while HR & Admin and Software, Hardware & Telecom sectors witness modest growths of 4% and 6% respectively. However, Engineering/Production and Real Estate roles see a 4% annual decline.
The numbers by foundit Insights Tracker underscores a dynamic and evolving hiring landscape in Malaysia, reflecting broader economic trends and industry shifts as of November 2023.
About the foundit insights tracker
The foundit Insights Tracker (fit) Malaysia, earlier known as the Monster Employment Index, is the leading guide to Malaysia’s e-recruitment landscape. By examining millions of job listings, fit provides insights into the hiring trends in Malaysia.
