The retail industry is leading the growth
According to the foundit Insights Tracker (fit), formerly known as the Monster Employment Index (MEI), e-recruitment activity in Malaysia grew by 21% year-on-year in December 2022. “The 21% annual growth can be attributed to the country easing travel restrictions and opening its borders,” said a spokesperson from foundit, which was previously known as Monster APAC & Middle East before its rebranding last year.
The Index currently stands at 76 points, with 3% month-on-month growth, indicating significant job market growth and persistent demand in the labour market. Over the past three months, there has been a 10% growth in hiring across sectors, with the retail industry experiencing a 65% increase in hiring activity year-over-year.
“The robust retail sales and upward trend in consumer sentiment drove the 65% increase in hiring activity,” said the spokesperson. However, the Index saw a year-on-year hiring dip in IT, Telecom/ISP, and BPO/ITES by 13%. Online recruitment surpassed the year-ago level in eight of the nine occupation groups monitored by the tracker, with Hospitality & Travel leading the charge at 212% due to the opening of land and air borders.
“We have completely eased out of the COVID-19 pandemic and opened our land borders with Singapore,” explained the spokesperson. Among all monitored occupational groups, customer service was the only one to have registered a decrease (-17%) in December 2022. The foundit Insights Tracker is a comprehensive monthly analysis of online job posting activity conducted by foundit.