KUALA LUMPUR, March 1 — Recruitment activity via the Internet dropped by 28 per cent in January compared to a year ago, according to data from an online hiring firm.
In the Monster.com’s recruitment index, all but one sector — oil and gas (O&G) — registered declines in job growth, with the logistics, freight and shipping sectors being the hardest hit.
The firm’s index measured the decline in what is traditionally the busiest hiring period of the year, when firms recruit employees that have just moved on from their previous positions.
“Global sluggish economic growth has led to a slowdown in hiring activity amongst companies in Malaysia, as recruiters remain cautious, holding off on new recruits.
“The second half of the year, however, appears to be more promising as Malaysia’s financial climate is likely to stabilise with declining oil prices and depreciation of the ringgit,” Sanjay Modi, managing director for Monster.com (India, Middle East, Southeast Asia, Hong Kong), said in a statement accompanying the survey.
Jobs in the logistics, freight and shipping sectors shrunk by a third versus January 2015, while the O&G industry registered zero change in the same period, which Monster.com interpreted as signs of the sector’s stabilisation.
The O&G sector had cut hiring by 30 per cent in the firm’s index for December, but January’s performance made it the best-performing industry in Malaysia where all others demonstrated negative growth.
Measured by occupation, jobs in software, hardware and telecoms vanished at the fastest rate, falling 66 percentage points from the 82 per cent growth enjoyed last year.
Those working in hospitality and travel found nearly 50 per cent fewer openings while openings in the traditionally resilient positions in sales and business development also shrunk by 30 per cent from the 90 per cent growth these had enjoyed a year ago.
Monster.com’s index is consistent with another study conducted by the Financial Times last month in which Malaysian respondents said they faced the greatest difficulty within the region in securing employment.
The employment slowdown contradicts the economic performance registered by the country as a whole last quarter, with gross domestic product (GDP) growth coming in a 4.5 per cent in the last months of 2015.
The GDP growth exceeded forecasts and has prompted economists and ratings firms to predict a gradual recovery for Malaysia towards the end of 2016.
Monster Worldwide describes itself as a global online employment solution provider with a presence in North America, Europe, and Asia. It launched its Monster Employment Index in 2015, which it said is based on “a real-time review of millions of employer job opportunities”.
