Key Highlights of the Month
Malaysia’s foundit Insights Tracker recorded a 14% annual increase in hiring activity from August 2023 to August 2024, with the index rising from 79 to 90. However, there was a 5-point month-over-month decline, marking a seasonal fluctuation, though the broader six-month trend shows an 8% growth in hiring activity.
Hiring Trends – Industry
8 out of 10 industries tracked saw annual growth in August 2024.
- In Demand:
- Retail (+83%) led the growth, despite a 17% monthly decline.
- Engineering, Construction, and Real Estate (+55%) and Hospitality (+51%) saw continued annual growth.
- Facing Challenges:
- BFSI (-9%) and Production/Manufacturing/Automotive (-1%) faced challenges year-on-year, but the latter saw a 10% month-over-month increase.
Hiring Trends – Functional Area
9 out of 10 functions tracked saw annual growth in August 2024.
- In Demand:
- Engineering/Production (+91%) and Marketing & Communications (+53%) were the top-performing functions.
- Software, Hardware, Telecom (+49%) showed a significant increase in demand.
- Facing Challenges:
- Hospitality & Travel (-63%) continued to see a steep decline in demand.
About the foundit Insights Tracker
The foundit Insights Tracker (FIT) Malaysia, formerly known as the Monster Employment Index, is a comprehensive monthly analysis of online job posting activity. It provides valuable insights into recruitment trends across various industries and functional areas in Malaysia. For more information, visit www.foundit.my
