PETALING JAYA: The number of jobs in the country rose 22% in the second quarter of this year compared with the first quarter, according to global recruitment specialists Michael Page Malaysia.
Based on the job opportunity data shared by the global recruitment company, it said there was growth opportunities within sectors such as financial services and fintech (up 43%) and healthcare and life sciences (up 26%).
Nic Chambers, country head of Michael Page Malaysia, said in a statement: “Multinationals with an existing footprint in Malaysia are expanding their operations, either with new functions or skill sets further up the job value chain.
“There have also been new market entrants and direct foreign investment coming into Malaysia and setting up global business services centres. This is driving the activity in hiring trends.”
He added that financial services and fintech companies have expanded their digital capabilities. “The increased adoption of digital and mobile banking is mainly in e-wallets and digital payment gateways. With the rapid pace of online consumerism, banks are playing catch up in this space,” noted Chambers.
This has in turn increased compliance and governance job opportunities as companies quickly align with the new regulations from Bank Negara.
Similarly, job opportunities in technology have seen double-digit growth as Malaysia stays committed to the Industry 4.0 agenda, it said in the statement.
The earmarked areas are within cybersecurity, data analytics, big data and cloud technology.
Hiring in healthcare and life sciences also rose (up 26%) in the second quarter and as reported in the Michael Page Malaysia Talent Trends 2021, the in-demand roles are radiographers, laboratory technologists, clinical research, specialist doctors and R&D scientists.“The Covid-19 pandemic saw a record increase in hiring within healthcare companies, and an increased number of new businesses specialising in pharmaceutical and medical devices have entered the Malaysia market to meet demands within the region.
“We can expect biotech companies and health sciences organisations to consolidate and push boundaries for innovation,” Chambers added.
Meanwhile, the unemployment rate rose to 4.8% in June, according to the Statistics Department. Economists expect the jobless rate to come under pressure this year before picking up next year.
In June, the unemployment rate rose to 4.8% from 4.5% in May, marking the first increase after four consecutive months of decline since January 2021, bringing the average unemployment rate for the first half of the year to 4.71%. The jobless rate stood at 4.8% last year.
Source: https://www.thestar.com.my/business/business-news/2021/08/18/job-rate-up-22-in-q2