Malaysia – Private sector have a Major increase in Jobs during Q-1
The Department of Statistics stated that the Malaysian private sector had the increase of 82,000 positions during the first quarter of 2019 in comparison to the Jan- Mar quarter of 2018.
A promising trend
Its Chief Statistician expressed that with this development, the private sector had 8.54 million positions. In comparison during the first quarter of 2018 there were 8.46 million positions. The rate regarding the filled positions stood at 97.7%, and also shows the increase of 0.1 % In comparison to Q1 of the last year. The Department stated that job creation during the Q1 mostly happened in the category of semi-skilled workers at 49.1%. After it the category of skilled workers had a share of 44.9%. Finally the share of low-skilled category was 6.0%. During, this quarter the services sector had the largest share of positions at 51.9%, and filled positions accounted for 52.6%.
Sector wise growth
The largest share of positions in the manufacturing sector was 26.2% and filled positions accounted for 25.5%. The same sector also had a large share of vacancies standing at 54.3%, services had 21.3%, and agriculture had 14.3% share.
Job creation in the services sector was 52.2%, and in the construction it was 20.2% followed by manufacturing sectors at 17.5%.
The findings are in harmony with the recent report of the Monster Employment Index stating that there will be continuous growth in online hiring in the country in line with the probable growth of economic sector in Malaysia. As per MEI, the total annual growth for the online hiring segment had a 7% yearly increase in April 2019. There was optimism as eight industries had a positive growth annually.
The economy in Malaysia is showing a promising trend and is also expanding at a steady pace. Also, there is an expectation that the main economic sectors will have positive growth. The growth in the service sector is projected at 5.7% and for the manufacturing sector it will be 4.8%. With such positive developments the first quarter, there is a hope that the trend will continue in the second quarter. This will result in a powerful and positive growth.
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