The foundit Insights Tracker (fit) Malaysia, previously the Monster Employment Index, provides a monthly overview of Malaysia’s recruitment landscape. Drawing from a vast pool of job postings, fit paints an updated picture of Malaysia’s e-recruitment trends.
Hiring Snapshot
In August 2023, Malaysia’s job demand rose by a modest 1% from July. While recent months showed steady trends, noteworthy month-to-month growth in diverse sectors indicates renewed vigor in the job market.
Sectoral Highlights
In Demand: Hospitality led August’s triumph with a phenomenal +88% YoY growth. Close on its heels was Retail, boasting a +63% growth, primarily fueled by luxury e-commerce. Logistics and Shipping sectors further strengthened their stance with a +25% uptick.
Challenges: Some sectors braved headwinds. The IT and BPO sectors witnessed an -18% dip, mirroring global patterns. Despite MoM growth, the Oil and Gas and BFSI sectors declined by -9% and -6% YoY, respectively.
On a positive note, sectors like Production/Manufacturing (+5%), Advertising and Media (+12%), and Real Estate (+19%) displayed strong annual growth.
Remarkably, the Real Estate sector recorded a six-month growth rate of 31%.
Functional Dynamics
In Demand: Reflecting the surge in air travel, the Hospitality & Travel sector recorded an impressive +133% demand, with a notable 21% MoM growth. Sales & Business Development (+34%) and Marketing & Communications (+11%) roles also showcased sturdy YoY growth trajectories.
Facing Headwinds:
Customer Service experienced a sharp -44% YoY decrease, leading the decline among all functions. Concurrently, roles in Engineering/ Production and Finance dipped by -4%.
However, HR & Admin (+1%), Purchase/ Logistics (+2%), and Software & Telecom (+3%) sectors displayed positive MoM growth, revealing an encouraging trend in the e-recruitment space for August 2023.
For an in-depth dive into Malaysia’s hiring nuances in August 2023, explore the latest fit report.
