Online hiring up 8% in October

By MARK RAO

ONLINE employment in Malaysia grew for the second month running in October, registering an 8% year-on-year (YoY) increase, with the highest growth recorded mainly in the information technology (IT) as well as the telecommunications and business process outsourcing (BPO) sectors.

According to the latest Monster Employment Index (MEI), the overall growth is 1% higher than the rate reported in September.

The monthly gauge of online job posting activities conducted by Monster.com revealed that hiring activity grew by 41% YoY in the IT, telecommunications and BPO industry — the highest for the month and taking the lead from the oil and gas sector which was second at a 28% increase.

Also, growths were from logistics, courier and shipping; banking, financial services and insurance; and engineering, construction and real estate industries at 11%, 9% and 5% increase respectively.

The retail sector noted the steepest decline in October, fell 23% YoY, while the advertising, market research, public relations, media and entertainment industry saw sentiments declined by 13% over the same period.

The hospitality sector noted a slight drop in online hiring activity for the month with a 2% decrease YoY.

Monster.com MD Sanjay Modi said Malaysian organisations are in the middle of reinventing themselves to incorporate digitalisation into their operations, with firms now at various stages of adopting new technologies.

“As new innovations are taken up more quickly, firms need to react faster to capture those opportunities and employ talents with the right skills to drive digital growth,” Modi said in a statement yesterday.

He said the country continues to emphasise on the digital economy which is forecast to contribute 18.2% of its gross domestic product by 2020.