The increase in demand for IT & tech talent in Singapore and the Philippines this April was consistent with the increase experienced in March, according to the latest Monster Employment Index released today.
The Monster Employment Index (MEI) is a monthly gauge of online hiring activity across Singapore, Malaysia and the Philippines, tracked by Monster.com. It comprises data for overall hiring activity in each country, as well as specific data in the banking and finance sector.
Singapore’s IT industry experienced an impressive 39% growth in demand between April 2018 and 2019, in line with the drastic 40% year-on-year growth experienced in March.
Demand in the Philippines’ IT industry has also been growing steadily in recent months, recording a 15% year-on-year growth in April, which is consistent with the growth numbers of 10% and 13% in February and March.
In contrast, Malaysia experienced a slight dip in demand growth from last month, recording 43% year-on-year growth in April. This is lower than the 60% y-o-y spike from March, but still significantly higher than January’s growth number of 25%.
When looking specifically at software, hardware and telecom roles, Singapore saw a 27% year-on-year demand growth in April, nearly the same as March’s 29% growth number.
Malaysia, on the other hand, experienced a slip in demand growth compared to the previous month, recording 41% year-on-year in April. While this is lower than the whopping 70% demand growth from March, it is still significantly higher than February’s feeble 5% growth.
The Philippines failed to impress in April, recording 11% year-on-year growth for software, hardware and telecom roles for the month, on par with the 10% number recorded in both February & March.
“The tech startup ecosystem in Southeast Asia is thriving, and is estimated to have brought in US$10.9 billion in funding for late-stage startups in 2018 alone. With a young population that’s always online and steadily increasing per capita GDP growth, the region is set to be the next business hub of the world,” said Abhijeet Mukherjee, CEO of Monster.com – APAC and Gulf.
“This move is driving a steadily increasing demand for skilled technology professionals and businesses looking to get ahead in the game need to start taking active steps to secure and retain quality talent. There are ample professionals in the technology industry at present – the true challenge lies in finding the ones with the most appropriate skill set for a company’s business needs,” he added.
