The demand for IT professionals in Singapore, Malaysia and the Philippines is still struggling, with little sign of recovery, according to the latest Monster Employment Index (MEI) by Monster.com, one of the largest online employment sites globally.
The MEI, a monthly gauge of online job hiring activity, records the industries and occupations that show the highest and lowest growth in recruitment activity.
In December 2015, Singapore registered the least decline in hiring activities in the IT, Telecom/ ISP and BPO/ ITES sector at -3% year-over-year. This is a marginal increase from November’s -4% year-over-year. Despite being one of Singapore’s top growth industries overall, the sector has been facing consistent month-on-month declines in hiring activities.
Malaysia reported a -33% year-over-year decline in the sector, the weakest among the three markets surveyed. This is a further dip from November’s -30% year-over-year, making it one of the lowest growth sectors in the country.
The Philippines recorded a -7% annual decline – an improvement from November’s decline of -22%. Despite this improvement, overall hiring activity remains sluggish, with just a 1% increase between November and December 2015.
IT, Telecom/ ISP and BPO/ ITES industry
Demand for Software, Hardware and Telecom professionals are just as slow, with negative growth reported across all three markets, and demands in Singapore and Malaysia coming in as the lowest growth industry.
Singapore saw the least decline in the hiring of the Software, Hardware and Telecom professionals at -13% year-over-year. Malaysia continues to be the worst performing market, exhibiting a -66% year-over-year decline, dipping further from November’s -60% year-over-year decline. This is also the group’s weakest performance in the last 12 months.
Despite registering an annual decline of -28%, the demands for the Software, Hardware and Telecom professionals emerged as one of the top growth occupational groups in the Philippines.
“Despite having little indication of improvement in the sector for the coming months, Singapore is well-equipped to become a digital hub for businesses on multiple scales. Additionally, the government have noted onthis trend and are committed to provide for and increase the potential of the environment, paving way for more job opportunities,” said Sanjay Modi, Managing Director, Monster.com (India, Middle East, Southeast Asia, Hong Kong).
“The BPO sector will remain a driver of Philippines’ economy despite external volatilities, thanks to the nation’s sound economic pillars. Efforts to keep the sector ahead through adding greater value to businesses can greatly help the sector remain competitive making room for greater growth in the year ahead.”
The MEI is a monthly gauge of online job posting activity, 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. The Index 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.