The Malaysian job market has recorded a 31% growth in job demand this June indicating a spree in hiring activity on an annual basis. A number of segments hit hardest by Covid-19 have shown promising signs of resurgence, as per the Monster Employment Index (MEI).
An upsurge of 15% was registered for hiring activity over the last six months, while month-on-month growth improved at 5% projecting a continuous demand in the job market.
Despite two years of restriction on public activities, rising prices, and the current labour crisis, the retail industry in Malaysia has moved towards recovery with a 321% year-on-year growth in job activity in June 2022. Moreover, retail sales in the country are projected to grow at the rate of 25.7% in the current quarter as per Malaysian retail associations. While the country has seen a number of retail closures over the pandemic, consumer sentiments soar high showcasing a positive outlook for this segment in the months to come.
Commenting on job trends for June 2022, Sekhar Garisa, CEO, Monster.com – APAC & Gulf said, “Companies today are ramping up their demand for a digital-first future-ready workforce amidst the ongoing talent crunch we see globally. Jobs in Malaysia have come back and several industries have begun to almost reflect pre-pandemic business functioning with steadfast recovery especially across deeply impacted segments like Tourism, Hospitality, and Retail. With flexible work arrangements gaining popularity in the job market, we are optimistic to see continued growth and resilience in the coming months.”
Following retail, the Hospitality segment (up 65 percent) has also seen a huge inflow of demand for professionals in tourism and travel related industries with the user penetration rate nearing the pre-pandemic levels. With improved business sentiments and airline travel ramping up, tourism in the country has certainly picked up accompanied by the consequent rise in demand for skilled talent. Logistic, Courier/ Freight/ Transportation, Shipping/ Marine (up 51 percent) also noted a huge jump in hiring activity being next in the rung, followed by rapid digitization in BFSI (up 32 percent).
Other sectors that noted promising growth in June include Production/Manufacturing, Automotive and Ancillary (up 4 percent), IT, Telecom/ISP, BPO/ITES (up 5 percent), Advertising, Market Research, Public Relations, Media and Entertainment (up 16 percent) and Engineering, Construction and Real Estate (up 19 percent).
Across roles, the Malaysian job market exhibited maximum demand for professionals in Hospitality & Travel (up 162 percent) driven by travel resumption from neighbouring countries coupled with strong domestic tourism. Interestingly, all 9 functions monitored by the Index saw positive growth over the course of June 2022 projecting a great demand influx for the market.
Given the impressive performance of retail, roles in Customer Service (up 79 percent) increased, followed by Software, Hardware, Telecom (up 58 percent). Finance & Accounts (up 52 percent) and Sales & Business Development (up 41 percent) also observed a rise.
The Monster Employment Index is a broad monthly analysis of online job posting activity conducted by Monster India. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide.
Period for the report
The period considered for the MEI data is 1st to 30th June 2022.
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