Malaysia’s banking, financial services and insurance (BFSI) industry saw a plunge in online hiring activity in the past year, recording a -12% year-on-year decline in November 2018, as revealed in the Monster Employment Index released at the end of December 2018.
In line with that, the country registered nine consecutive months of decline in online recruitment activity, down 5% year-on-year in November 2018.
On the BFSI sector trends, Abhijeet Mukherjee, CEO of Monster.com – APAC and Middle East, said: “According to research houses, macro policy uncertainty post-GE14 seems to be having a slight dampening effect on the banking’s sector growth, and analysts also expect the sector’s core earnings growth to come in lower this year.”
The following are additional highlights from the index:
- Aside from the steep decline in online hiring in BFSI industries, the hospitality industry also recorded a steep plunge at -17% year-on-year.
- Finance and accounts job roles were the least in demand, at -10% year-on-year.
- The IT, telecom/internet service provider and BPO/ITES and oil and gas industries were the only two out of nine industries monitored that grew, up 28% and 16% year-on-year, respectively. Further, both sectors recorded strong growth over six months, up 35% and 16% respectively.
- Among occupations, customer service roles registered the most notable growth in November 2018, up 6% year-on-year, followed by software, hardware and telecom professionals, up 3%.
- Demand for sales and business development professionals was also on the nine-month, double-digit decline wagon as well, down 10% year-on-year in November.
The charts below showcase further highlights from the report:
Lead image and infographics / Monster