All Sectors Show Improved Growth Rates for February-March - MARKETING Magazine Asia


All Sectors Show Improved Growth Rates for February-March

Monster Employment Index

Monster Employment Index(Marketingmagazine.com.my) – All sectors and occupational groups exhibited improved growth rates between February and March, according to the Monster Employment Index (MEI) Malaysia.

The index is a monthly gauge of online job posting activity index and published by US-based Monster Worldwide Inc. It showed that the country’s online hiring for March, despite declining 11 per cent from the same month last year, had improved as compared to the 39 per cent year-on-year drop in February.

India, the Middle East, Southeast Asia, Hong Kong managing director Sanjay Modi said according to the latest Moody’s Investors reports, Malaysia’s economic growth is on par with its forecast, indicating positive prospects for the job market in the coming months.

“This may lead to a boost in the country’s trade linkages, which will in turn increase job openings in Malaysia,” he said in a statement today.

He said the recruitment of foreign workers in Malaysia is likely to decrease drastically in the short-term, with the recent announcement on increasing the foreign workers levy.

However, he said as businesses expand, it is likely that demand for these workers will continue to roll in.

According to the index, advertising, market research, public relations, media and entertainment reported a 11 per cent year-over-year growth in online hiring in March, the steepest amongst the industry sectors monitored.

It said these sectors were also the only group registering positive annual growth during the month.

Meanwhile, the logistics, courier/freight/transportation, shipping/marine sectors reported the steepest decline at 30 per cent year-over-year, closely followed by hospitality, which fell 29 per cent year-on-year.

MEI Malaysia is based on a real-time review of millions of employer job opportunities, culled from a large representative selection of career websites and online job listings across Malaysia.

The index, however, does not reflect the trend of any one advertiser or source, but is an aggregate measure of the change in job listings across the industry.

 

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