Hospitality roles see significant annual growth
The labour market in Malaysia is reporting "strong momentum" as online recruitment activity posted a double-digit increase year-on-year (YoY), according to the foundit Insights Tracker for October 2023.
The tracker revealed 16% YoY growth for e-recruitment, with the index climbing to 80 in October 2023.
"Our findings indicate a strong momentum and a promising future for Malaysia's labour market," said Sekhar Garisa, CEO of foundit, in a statement.
By industry, the Hospitality sector logged the highest YoY increase in hiring activity with 111%, fuelled by Malaysia's booming tourism industry, followed by the Retail sector with 108%. Other sectors also recorded the following YoY increases:
- Engineering, Construction, and Real Estate (42%)
- Logistic, Courier/Freight/Transportation, Shipping/Marine (27%)
- Advertising, Market Research, Public Relations, Media and Entertainment (17%)
- Production/Manufacturing, Automotive and Ancillary (12%)
The economic slowdown and uncertainties, however, have led to a YoY deceleration in hiring activity for the following industries:
- Oil and Gas (-11%)
- Banking, financial services and insurance, IT, Telecom (-9%)
- Information Technology Enabled Services (-6%)
Overall, there has been "optimistic hiring" in October 2023, with employers now on the lookout for talent with "specialised skills," according to Garisa.
"Hence, job seekers must always be aware of the changing demands of the industry and equip themselves with the required skills," the CEO said. "Upskilling and continuous learning will be the key to unlocking new opportunities and thriving in this dynamic landscape."
Hospitality roles saw higher demand
Meanwhile, the growth of international tourism in Malaysia has driven demand for Hospitality and other roles significantly, according to the report.
Hospitality roles saw a YoY growth of 169% in October 2023. Other job roles that reported YoY growth include:
- Engineering/Production, Real Estate (10%)
- HR & Admin (7%)
- Purchase/Logistics/Supply Chain (6%)
- Software, Hardware, and Telecom (5%)
Customer services roles, on the other hand, saw a 19% decrease in demand YoY.
According to the report, this could be due to decrease in hiring as part of cost-cutting measures and the implementation of automated service systems, such as chatbots and self-service portals.
