Key Highlights of the Month
Malaysia’s foundit Insights Tracker registers an 8% increase in hiring activity annually in May 2024, with the index climbing from 79 in May 2023 to 85 in May 2024. The month-over-month analysis reveals a 2% increase, with sustained growth over the past six months.
Hiring Trends – Industry
6 out of 10 industries monitored registered an annual increase in hiring activity in May 2024.
In Demand:
- Retail (+135%) marked outstanding annual growth.
- Hospitality (+40%) also saw notable annual and monthly growth.
- Engineering, Construction, and Real Estate (+33%) demonstrated exceptional growth.
Facing Challenges:
- BFSI (-13%) witnessed the steepest annual decline.
- IT, Telecom/ISP, BPO/ITES (-9%), and Oil and Gas (-6%) sectors faced declines.
Other Growth Areas:
- Logistics, Courier/Freight/Transportation, Shipping/Marine (+19%) saw substantial annual growth.
- Advertising, Market Research, Public Relations, Media, and Entertainment (+3%) saw an uptick in demand.
Hiring Trends – Functional Area
6 out of 10 functional areas tracked saw an annual increase in online recruitment activity in May 2024.
In Demand:
- Sales & Business Development (+83%) saw a significant annual surge in hiring, with data analytics as a critical skill.
- Engineering/Production (+76%) and Marketing & Communications (+32%) roles also saw increases.
Facing Challenges:
- Customer Service (-30%) professionals experienced a notable annual dip.
- Hospitality & Travel (-18%) and Purchase/Logistics/Supply Chain (-5%) roles also saw declines.
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.
