Online hiring activities for IT, Telecom/ISP and BPO/ITES industries in Singapore, Philippines and Malaysia remains weak, according to the latest Monster Employment Index (MEI) for December 2015.
MEI is a monthly analysis of online hiring activities of employers in the Philippines, Singapore and Malaysia.
Singapore recorded the least decline with a -3 percent year-over-year (YoY) growth, a marginal increase from -4 percent YoY growth in November 2015.
"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 this 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 of online job portal Monster.com (India, Middle East, Southeast Asia, Hong Kong).
Meanwhile, the Philippines have seen the biggest improvement from -22 percent YoY growth in November to -7 percent YoY growth in December.
According to Modi: "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."
Despite the negative figures, IT, Telecom/ISP and BPO/ITES remain to be one of the top growth industries in Singapore and Philippines.
Malaysia, on the other hand, remains to have the weakest hiring activity in this industry with a -33 percent YoY growth for the month of December. The sector is also one of the lowest growth industries in the country.
Demand for software, hardware, and telecom professionals also remains sluggish for the three markets for the month of December. According to MEI, Malaysia remains to be the worst performing market in this industry with a -66 percent YoY growth - the group's weakest performance in the last 12 months. Singapore recorded the least decline with -13 percent YoY growth, while Philippines recorded a -28 percent YoY growth.
The sector is also included as the lowest growth occupations in Singapore and Malaysia.
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