Annual demand for IT professionals bloomed in all three Southeast countries for the month of October, according to the data provided by the Monster Employment Index, released by Monster.com.
The Monster Employment Index (MEI) is a monthly gauge of online hiring activity across Singapore, Malaysia and the Philippines, tracked byMonster.com. It comprises data of overall hiring activity in each country, as well as specific data in the banking and finance sector.
All three countries demonstrated impressive double-digit, year-on-year growth in demand for tech talent, with Malaysia in the leading position. The country demonstrated a whopping 25% annual growth in the tech industry.
Singapore and the Philippines were not to be left behind, reporting14% and 15% year-on-year growth respectively during October. Both Malaysia and the Philippines saw a considerable gain from September’s annual growth.
However, the availability of suitable roles in the tech space is unsatisfactory for both Singapore and Malaysia. Singapore reported an annual decline of 1% in IT jobs during October, a sharp decline from the 7% positive annual growth it had seen during September. Malaysia maintained its slow run in terms of tech opportunities, clocking in a 3% annual decline.
The Philippines, on the other hand, eclipsed its neighbors by achieving an impressive 26% annual growth for October.
“It is slowly dawning on companies across all sectors that things in the tech world are moving very rapidly and could easily outpace their existing roster of talent. As a result, hiring firms are attempting to bring in more tech specialists to increase its operational capabilities or train other employees whose jobs may require them to have a good grasp of IT,” said Abhijeet Mukherjee, CEO of Monster.com – APAC and Middle East.
“A new industrial dawn will be upon us soon, and we must ensure that our future generations are well-equipped to deal with the uncertainties of an era where machines work alongside humans to get things done. It’s about making sure that our working population remains relevant.”
Launched in May 2014 with data collected since January 2011, the Monster Employment Index is a broad and comprehensive monthly analysis of online job posting activity inSingapore conducted by MonsterSingapore. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, including Monster Singapore, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide. Monster has taken due care in compiling and processing the data available from various sources for Monster Employment Index, but does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or action / decision taken or for the results obtained from the use of such information.