In Malaysia, the foundit Insights Tracker (FIT) reported an 11% annual growth in hiring, with the index rising to 89 in October 2024. This increase reflects targeted recruitment in high-growth areas, even as macroeconomic factors like global inflation and supply chain challenges persist.
Sectoral Growth Highlights
7 of the 10 industries tracked experienced annual hiring growth:
- Retail (+46%): Continued upward trajectory due to robust consumer spending and e-commerce expansion.
- Advertising & Media (+28%): Demand surged as businesses invested in digital engagement strategies.
- Oil & Gas (+16%): Demonstrated resilience amidst evolving global energy demands.
Declines were observed in:
- Hospitality (-65%): Competitive regional markets and changing travel patterns significantly impacted hiring demand.
- Production/Manufacturing (-8%): Affected by supply chain disruptions and economic uncertainty.
Functional Area Trends
7 of the 10 functional areas tracked saw hiring growth:
- Software & Hardware (+60%): The highest annual growth, driven by increasing adoption of AI and automation technologies.
- Engineering & Production (+35%): Boosted by infrastructure projects and industrial expansion.
- Marketing & Communications (+32%): Reflecting growing emphasis on digital strategies and customer engagement.
While roles in Hospitality & Travel (-65%) and Purchase/Logistics (-6%) faced challenges, growth in HR & Admin (+14%), Finance & Accounts (+31%), and Sales & BD (+23%) demonstrates demand for operational and strategic professionals.
About the foundit Insights Tracker
The foundit Insights Tracker (FIT) is a monthly analysis of online recruitment trends, providing actionable insights across industries, functions, and geographies. As a successor to the Monster Employment Index, it captures the evolving hiring landscape to help employers and job seekers stay ahead. For more details, visit foundit or contact PR@foundit.ai.
