JobStreet.com, Asiaís leading online recruitment
company releases its latest JobStreet.com Employment Confidence Index (JobStreet ECI) today. The JobStreet ECI has increased to a steady average 35.6 for the months of October to December 2003 (Q4), which is 1.9 points higher than the average of 33.7 in Q3 2003.
Suresh Thiru, Vice President, Operations, JobStreet.com says, ìJobStreet ECI for the last quarter of 2003 is significantly higher than the average JobStreet ECI reading for the same quarter for 2002. This indicates a better climate of employment confidence ñ jobseekers seeing better opportunities in the employment market. Certainly, this is parallel with increases registered in the last quarter of 2003 both by the Business Conditions Index (BCI) and the Consumer Sentiments Index (CSI), as tracked by Malaysian Institute of Economic Research (MIER).
On the employersí end, we are also seeing a very encouraging increase in hiring activity, with JobStreet.com registering another 20% increase of job postings on JobStreet.com compared to the third quarter, Q3 of 2003. This is in line with employers expecting a more positive business environment. The manufacturing sector continues to be aggressive employers, backed by The Federation of Malaysian Manufacturers (FMM)ís projection of a higher growth rate for manufacturing output in Malaysia at 7.2% in 2004, driven by the electrical and electronics (E&E) sector, compared with the estimated 5% last year. With the Malaysian government pursuing an expansionary budget and economic packages, we forsee that all these factors to have a positive effect on jobseekers sentiments for the first quarter of 2004 and beyond.î
Suresh adds, ìOne new key growth area for jobs is in business processes outsourcing (BPO), where multinationals are setting up regional centres based in Malaysia. Cyberjaya, in particular is becoming the destination of choice due to the availability of world class infrastructure, human capital and incentives for MSC-status companies.
The BPO sector is experiencing tremendous growth since early 2003 and is likely continuing to grow vigorously for 2004. We estimate conservatively that this sector will need to fill approximately 150 to 200 new vacancies every month, which consists of positions at every level.î
Lynne Leatherbarrow, Vice President of Human Resources for HSBC Electronic Data Processing (Malaysia) Sdn. Bhd., based in Cyberjaya says that We have exciting growth plans for the next few years, as we will be expanding our operations from the present level of around 700 people to in excess of 2000. We have opportunities for graduates and diploma holders with good communication skills in English, seeking an enjoyable career in a well reputed, team orientated MNC that has a real commitment to people development.
Job-seekers confidence register another quarter of increase
Key Job Growth Area is Business Process Outsourcing