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Hiring activity in Malaysia picked up in end-2022, with retail leading the way

Hiring activity in Malaysia picked up in end-2022, with retail leading the way

While there was a dip in hiring in IT, telecom/ISP, and BPO/ITES, the sector still maintained a positive outlook during the period monitored.

Malaysia recorded a growth in online recruitment activity in December 2022, noting a 21% increase from the same month the year before. This growth is attributed to the country's easing of travel restrictions and reopening of borders, foundit's Insights Tracker highlighted. 

As further noted, the job market has "shown noteworthy growth month over month," projecting a continuous demand in the job market. Additionally, a 10% growth in hiring was observed across sectors in Q4 2022, indicating a "persistent demand" in the labour market.

[ALSO READ: Number of employed persons in Malaysia grew by 28,900 in January 2023: DOSM]

Industries/sectors which saw a growth in demand and hiring

According to the findings, across industries, the retail industry experienced the highest increase year-on-year (y-o-y) in hiring activity in December 2022, at 65%. This, it was shared, was "primarily due to robust retail sales and an upward trend in consumer sentiment."

Coming in with the next-highest y-o-y growth was the hospitality sector, where job demand increased by 55%; followed by the banking, finance services & insurance sector (+34%).

Apart from the above, the Index showcased "encouraging growth" in the following sectors:

  • Logistics, courier/freight/transportation, shipping/marine (+32%)
  • Oil & gas (+1%)
  • Production/manufacturing, automotive and ancillary (+2%)
  • Engineering, construction, and real estate (+2%)
  • Advertising, market research, public relations, media and entertainment (+15%)

On the other hand, the Index reflected a y-o-y dip in hiring in IT, telecom/ISP, and BPO/ITES (-13%), attributed to the ongoing global economic uncertainties. However, the sector still observed a "notable increase" in hiring demand in that period.

How individual occupation groups fared in online recruitment

Looking further into online recruitment, eight out of the nine occupation groups monitored by the tracker saw a surge, surpassing the previous year's figures.

In particular, hospitality & travel lead the way with a growth of 212%. At the same time, finance & accounts saw a growth of 29%, while sales & business development job roles saw an increase of 28%. 

While the above was so, customer service came up as the only group that noted a decline of 17% in online recruitment in December 2022.

The period considered for the foundit Insights Tracker data is 1 to 31 December 2022.


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Image / Shutterstock

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