Online hiring activity is continuing its decline in Malaysia, registering -11 per cent in activity year-on-year in August, recruitment website Monster’s data shows.
Out of the nine industry sectors monitored by Monster Employment Index (MEI), seven showed annual decline.
The steepest plunge was recorded in the retail and the banking, financial services and insurance (BFSI) industry, down 26 per cent and 21 per cent respectively in August. Both sectors have been in steep decline for six months straight.
Similarly, finance and accounts hiring witnessed six months of annual decline, down by 15 per cent in August.
However, activity in the oil and gas industry went up 8 per cent, while the information technology (IT), telecom/Internet service provider (ISP) and business process outsourcing (BPO)/information technology enabled services (ITES) industry registered growth at 11 per cent.
This came as no surprise since the oil and gas industry had already been witnessing upward trends in annual growth since April 2017, while the Telecom/ISP and BPO/ITES had been registering the same since April 2018.
Only one job role monitored by the index exhibited increased annual demand.
Hospitality and travel professionals were once again the most sought-after, registering increased hiring activity of 15 per cent year-on-year in August, its fourth consecutive month of annual growth. On a six-month basis, the profession saw the steepest growth as well, up 15 per cent, among all job roles.
In contrast, sales and business development jobs reported the steepest decline at 15 per cent as it continued to plummet.