foundit (formerly Monster APAC & ME), a leading talent platform, has unveiled the foundit Insights Tracker (fit) report for August 2023, offering comprehensive insights into hiring trends across Malaysia, Singapore, and the Philippines. This in-depth analysis sheds light on the evolving employment landscapes in these dynamic Asian economies.
The tracker reveals several intriguing trends in the comparative analysis of job markets in Malaysia, Singapore, and the Philippines. Malaysia demonstrates a relatively consistent job demand over the past three months, signifying a stable market. Job opportunities in Malaysia have shown a positive resurgence with 1% month-over-month (MoM) growth and a robust 7% year-over-year (YoY) growth across various industries. In contrast, Singapore faces challenges with a -1% MoM and a significant -14% YoY decline in hiring demand. This adjustment aligns with a moderated economic growth curve, signalling signs of vulnerability in the job market and a reduced pace of hiring. The Tracker data also reveals a 4% decrease in job demand over the last three months. Similarly, the Philippines has witnessed volatility in its job market, with a 5% decrease in job demand over the same three-month period and negative 9% YoY trends. Despite this decline, the MoM uptick by 3% suggests a reviving job market, hinting at the potential for recovery in the near future.
Commenting on these findings, Sekhar Garisa, CEO of foundit, said, “Skill enhancement is crucial to navigating the ever-changing job market in this digital age successfully, and it is imperative that we remain flexible and well-prepared to embrace these changes. Malaysia is currently experiencing a favourable hiring environment, but there is an increasing demand for new skills across various sectors. On the other hand, Singapore has a moderated economic outlook, which provides a valuable opportunity for job seekers to enhance their skills and plan for the futureproactively. Meanwhile, the Philippines exhibits a recovering job market, underscoring the continuous need for learning and growth in alignment with changing hiring trends. Across these three diverse markets, the constant remains re-skilling and upskilling. The common thread connects job seekers and employers on their journey to success and progress in this rapidly evolving landscape.”
Malaysia demonstrated resilience with consistent job demand and notable growth in various sectors.
Malaysia experienced an extraordinary YoY growth of 88% in the hospitality sector. This growth can be attributed to strategic government initiatives, including substantial investments in overseas promotions and digital content on international television channels. In contrast, Singapore and the Philippines reported more modest figures of 8% and 0%, respectively.
The Retail sector witnessed remarkable growth in Malaysia (63%) and the Philippines (45%), with the latter also experiencing a robust double-digit month-on-month increase. Luxury e-commerce and the expansion of retail outlets contributed to this surge. In Singapore, the retail sector reported a -2% decline for August 2023. However, an optimistic outlook prevails for the upcoming quarter in Singapore’s retail industry.
The Logistics sector saw increased demand in Malaysia (25%) due to significant e-commerce growth. Conversely, Singapore (-4%) and the Philippines (-35%) faced challenges in this sector.
In the technology domain, notable declines were observed in IT, Telecom/ISP, and BPO/ITES in all three regions. The unpredictable global landscape impacted these sectors, with the Philippines showcasing a unique pattern of IT, Telecom (-22%) and BPO/ITES (0%).
Tech Sector Thrives: Malaysia’s 3% YoY Growth in Software, Hardware, and Telecom Roles
In Malaysia, the tech sector demonstrates commendable resilience, with Software, Hardware, and Telecom roles experiencing a 3% YoY growth. This growth reflects the ongoing digitisation efforts across industries, demanding professionals with technology expertise to drive innovation and efficiency. Sales & Business Development roles also recorded an impressive 34% YoY growth, signifying a proactive approach by businesses to expand their market presence and seize emerging opportunities.
Conversely, Malaysia’s Customer Service sector faced significant challenges, witnessing a substantial -44% YoY decline due to evolving dynamics and automation’s increasing role. In contrast, the Philippines experiences growth in the Customer Service domain, recording a 6% YoY trend, in line with its position as a hub for customer service outsourcing activities within the Business Process Outsourcing (BPO) sector. Singapore and the Philippines share a -18% and -23% YoY contraction in Marketing & Communications roles, possibly reflecting adjustments in marketing strategies amidst evolving market dynamics.
Regarding hospitality and travel roles, Malaysia sees a remarkable surge of 133% YoY growth. In contrast, Singapore and the Philippines report more conservative figures of 8% and 0% YoY growth for the same roles, respectively. Purchase/ Logistics/ Supply Chain professionals face diverse challenges, with Malaysia showing a slight 2% YoY increase, while Singapore (-9%) and the Philippines (-24%) report declines.
About foundit Insights Tracker
The foundit Insights Tracker (fit) offers a detailed perspective on hiring patterns in Malaysia, Singapore, and the Philippines, focusing on the demand for specific skills, available positions, and salary ranges in the market. This analysis provides essential insights for job seekers and employers navigating the evolving employment landscape.
Period for the Report
The period considered for the foundit Insights Tracker (fit) data is August 2022 vs. August 2023, offering a comprehensive view of hiring trends in these key Asian markets.
About foundit – APAC & Middle East
foundit, formerly Monster (APAC & ME), is a leading talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. Since its inception, the company has assisted over 75 million registered users in finding jobs, upskilling, and connecting with the right opportunities across 18 countries. Over the last two decades, the company has been a catalyst in recruitment solutions with advanced technology, seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalized job searches and precision hiring. foundit strongly believes that a job title does notdefine one’s potential and leverages technology to dig deeper to curate opportunities central to the needs and aspirations of each user.
To learn more, about foundit in APAC & Gulf, Visit: www.foundit.com.ph | www.foundit.my | https://www.foundit.in | https://www.founditgulf.com | https://www.foundit.sg | www.foundit.com.hk | https://www.foundit.id
A consensus is emerging from multiple Davos insiders that the next wave of consolidation is about to hit the Crypto Markets as awareness of Web3 Applications continue to drive volume, growth and outlook. Despite the recent crypto market crash this month, M&A is again on the rise as the Volume of Deals increased 50X over the past year to $55 billion. “Since Web3 is the precursor to Metaverse market, our team has come up with a way for communities to combat some of the inherent volatility via the creation of a Reserve System for hedging NFT and digital assets,” stated Edward Musinski, Founder of the Web3 Reserve System which is backed by Metabook.
“We help NFT owners and large enterprises to scale their digital asset initiatives by building another layer of Hedged Trust, Meta Alliance and Telewellness,” UK founder Edward Musinski proclaimed. “We have built a highly efficient hedging solution, backed by a pool of NFT and tokens and governed via the Metabook DAO.”
The Reserve pool is key to the growth of value, when innovations are shared with the community, and driven by influencers, like in www.Metabook.digital case (beta version).
The Metabook Reserve pool will be comprised of partners’ tokens with such utility as health, by health data exchange Aimedis, or XR promo, by Arcona.
The shared creative power of community will drive the mass adoption of blockchain, Metaverse and web3 solutions of Metabook DAO partners.
Plato Partnership. Connecting Web3 Applications with the Metaverse
We are pleased to announce our new partnership with Plato that is opening up the opportunity for some healthy community consolidation. Plato is an open intelligence repository and platform that unlocks the power of Vertical Search in a highly secure and scalable way. The platform is designed to provide an ultra-safe and secure environment to consume sector-specific real-time data intelligence while its interface allows used to seamlessly connect to web3 applications. We are pleased to make this announcement as a preview of what we are seeing in Davos this year.
About Metabook
Metabook by Meta Alliance is a B2B2C platform for mass adoption of web3 Innovation and the first decentralized MetaMarketing leadgen platform. For more information, visit https://metabook.digital.
About Platoblockchain
Platoblockchain is the cross-chain Gateway to the world of Decentralized Gaming, Streaming, Metaverse experience. For more information, visit https://platoblockchain.com.
The OKLink team released the Global Crypto Market 2022/Q1 report on April 10, which contains a thorough review on the market performance of various public blockchain as well as in-depth discussion of popular fields and topics in the first quarter.
OKLink: Preparing for a prosperous multi-chain era as Ethereum 2.0 is drawing near. [OKLink Global Crypto 2002/Q1 Report]
According to OKLink data, MicroStrategy is by far the largest holder of bitcoin amongst overseas listed companies. It has been hoarding bitcoin since August 2020 and held a total of $5.8 billion worth of 129,218 BTC by the end of the first quarter of 2022, an amount even more than the market capitalization of MicroStrategy itself and three times the position that a certain automobile company held.
For now, Ethereum ecosystem has the most dynamic and viable players of all public blockchains, yet its high Gas fee and network congestion has always been denounced, which results in its decision on moving to 2.0 stage in order to thoroughly solve the congestion on-chain and improve the scalability of the Ethereum blockchain.
Here the core change is the transformation from PoW algorithm to PoS algorithm. And 2022 is a crucial year for Ethereum’s plan on 2.0 phase, which could set the stage for Ethereum to become a world-class financial settlement layer and DApp infrastructure.
Staking of ETH is a key step in Ethereum’s transition to 2.0. According to OKLink data, more than 10 million ETH have been staked to ETH 2.0 contract. To be more precisely, as of March 31, ETH 2.0 contract has received a total of 10,989,186 ETH, which accounts for 9.3% of total ETH in circulation. This could be a sign that we may soon see an Ethereum that has greatly improved in scalability, security and sustainability.
In addition, several EVM (the core underlying component of Ethereum) based ecology such as Polygon and Fantom rose up to popularity as they promise a lower cost compared to Ethereum
OKLink emphasized in the report that Non-EVM based public blockchains would provide new options for users to move their assets by adding EVM compatibility; besides, this would bring more composability to the global blockchain ecology and accelerate the prosperity of multi-chain era by integrating widely accepted standards.
With the rapid development of global blockchain and crypto market, the processing and analysis of large number of diverse data on blockchains may help in grasping the trend of the crypto market. In this regard, based on self-developed technology platform and rich experience in blockchain data processing and analysis, OKLink has launched a series of data reports reflecting the development of blockchain and crypto industry, and will continue providing support for the development and prosperity of the blockchain industry.
For more information on the Global Crypto Market 2022/Q1 report, please visit: https://www.oklink.com/academy/zh/hot-oklink-quarterly-insights-q1
About OKLink As one of the earliest founded blockchain companies in China, OKLink has committed to R&D and commercial application of blockchain technology since its establishment in 2013, and has developed into a world-renowned blockchain technology and data service provider. The company now holds industry leading visual blockchain data processing and analysis tools, integrating big data, AI and other advanced technologies to analyze and process complex and diverse blockchain data.
Media Contact Norman SUN, OKLink E: cooperation@oklink.com U: https://www.oklink.com
(Via ZEX PR WIRE) Sachin Teckchandani, a software engineer, with professional experience in working on international tech projects. He has already worked for international top-tier clients and developed software that drive exceptional business value. Overall, he has a good understanding of software and a unique cross-cultural business understanding. He is currently working at a Big 4 firm and has a strong focus on developing his knowledge of technology and startup development.
Technological disruption
Question – You have worked in different tech projects and the emergence of Blockchain technology is revolutionizing the trend of development in several fields. This is causing serious disruption on how things are done, what is your thought about this emerging trend?
Sachin: The Blockchain technology is pretty impressive and geared towards changing our world. Built upon decentralization, it gives power back to the people. Today, we’ve seen how different software applications are changing the world in a way we never thought possible.
These days we can hardly do anything without apps – banking, educational, financial, and so on. Blockchain technology is the future of decentralized apps. When we talk about Blockchain, most people focus on Bitcoin, which is just one of the several applicable areas of Blockchain. However, the overall potential of Blockchain is huge. I believe it will disrupt a whole lot of other industries.
Power of Decentralization
Question: Recently, there has been divergent thought about Blockchain, Bitcoin, and cryptocurrencies regarding their current development state and future projections. What are your thoughts about the industry?
Sachin: I have always believed in the idea that Blockchain and decentralization will grow gradually. Interestingly, the recent growth within the industry has been phenomenal, which is something that has not been seen before. However, while it might take some years before things become clear, especially with cryptocurrency, it is evident that blockchain is here to stay.
Having said that I have a strong bullish perception about the market and am working on developing my knowledge on blockchain technology and startups in the industry.
Extreme Risk, Potentially huge reward
Question: You’ve talked about Bitcoin and it coming to stay, what do you think about the potential reward and risk of different cryptocurrencies?
Sachin: Investing in cryptocurrency can offer great potentials, with coins moving from 3x to even 50x. The market is moving so fast and with everything going right, some investors are making 2-3x their money in a day. However, you must understand every high reward comes with a risk, and the potential of losing your investment is high.
Investing in cryptocurrency isn’t suitable for everyone and the high-risk appetite is for those who have access to the capital. Personally, I have seen some cryptocurrencies that go up 500% in a day and I have also seen currencies take the downward turn.
I think it is very important to know and study about the asset you are investing in before making a decision. Whether it be a coin, company or any other asset, if you think it creates value, then it might be a good investment. Else, it will just be another trend.
