The foundit Insights Tracker (fit) for Malaysia has reported a notable 19% increase in hiring demand over the year ending in January 2024.
With a 4% month-on-month growth, the tracker showcases a steady increase in the hiring landscape.
The 6% growth over the last quarter further emphasises the continuous demand across various sectors, with a special focus on AI, emerging technologies, and shared services, propelled by a data-driven strategy.
Hiring Trends – Industry (YoY numbers)
The index observed annual growth in 7 out of 10 industries tracked
In demand:
- Retail leads the charge with a 146% increase, followed by Hospitality at 106%, and Engineering, Construction, and Real Estate at 74%.
- The Logistics, Courier/Freight/Transportation, Shipping/Marine sector reported a 41% annual increase (with an impressive 48% growth over the previous month.)
- Advertising, Market Research, Public Relations, Media and Entertainment sectors saw a 25% uptick annually.
Holding steady:
- The Production/Manufacturing, Automotive, and Ancillary industry had a modest 1% annual growth in January 2024.
Facing challenges:
- The Oil and Gas and BFSI sectors both experienced a 21% decline, marking the most significant drop in hiring activity. (However, BFSI showed an 8% improvement month-over-month)
- The IT, Telecom/ISP, BPO/ITES sector too saw a 4% annual decrease but noted growth in the last month.
Hiring Trends — Functional Area (YoY numbers)
Online recruitment activity showed remarkable growth in 9 out of 10 functions over the year.
In demand:
- Engineering/Production and Real Estate roles surged by 71%, with Marketing & Communications and Sales & Business Development roles increasing by 61% and 59%, respectively.
- Other notable growths include HR & Admin and Hospitality & Travel roles, increasing by 35% and 33%, respectively.
Steady growth:
- Customer Service roles remained steady with no change, while Purchase/Logistics/Supply Chain saw a slight 1% increase.
Facing challenges:
- The Finance & Accounts sector experienced a 5% decrease, the only sector to witness a downturn.
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.
