Growing Interest Of Foreign Businesses Favourable To Malaysian Job Market: Monster

KUALA LUMPUR, March 29 (Bernama) -- The recent growing interest shown by foreign businesses in investing in Malaysia can be positive to the local job market. "The growing interest is due to the greater cost effectiveness within the country," said global online employment solution provider, Monster. Monster's latest Monster Employment Index (MEI) Malaysia showed online hiring between February 2015 and February 2016 declined -39 per cent. This is a 11 per cent dip from the -28 per cent year-over-year decline registered in January. While none of the sectors monitored by the Index registered positive annual growth in online hiring in February, the production/ manufacturing, automotive and ancillary sector saw the least year-on-year decline at -10 per cent. "The declining oil prices and sluggish growth of the Chinese economy continued to have an adverse impact on Malaysia's economic growth, as well as hiring sentiment across the board. "To cope with challenging market conditions, some employers have continued to slow down their hiring activities, whilst others have taken a further step in cutting down their work force," said Monster.com (India, Middle East, Southeast Asia and Hong Kong), Managing Director, Sanjay Modis in a statement Tuesday. He said the fluctuating hiring numbers are likely to go on for a while, as business owners seek alternative ways to cope with the changing business environment. -- BERNAMA