7 important job market trends in 2018

To provide hirers with insights into the Southeast Asia’s job market trend, SEEK Asia, represented by the jobsDB and JobStreet brands, has gathered its job advertisement data and conducted the Job Outlook Survey.

The Job Outlook Survey 2018 polled the opinion of 4,692 candidates and 624 hirers in seven countries across Asia, namely Hong Kong, Indonesia, Philippines, Malaysia, Singapore, Thailand and Vietnam. It aims to provide useful insights to hirers to help them develop their recruitment strategies and HR initiatives for attracting, engaging and retaining talent.

Key insights for hirers according to the Job Outlook Report 2018

1. Positive hiring outlook for 2018 across Asia

6 out of 10 hirers say they will increase or maintain their hiring rate, indicating a healthy job market in 2018.

Increase or maintain hiring rate
Increase or maintain hiring rate
Fill essential positions only
Fill essential positions only
Hire less or freeze hiring
Hire less or freeze hiring
2. Peak hiring season

Hiring season is expected to peak during the first quarter of the year, gradually slowing down towards the middle of the year, and levelling off thereafter.

Hirers’ preferred hiring month
3. Top 3 preferred job hunting/ recruiting channels

Both candidates and hirers agreed that online job boards are still their number one choice for job searching and recruiting.

Top 3 preferred job hunting/ recruiting channels
#1 Online - job boards
#1 Online - job boards
#2 Referrals
#2 Referrals
#3 Online - company careers website
#3 Online - company careers website
#1 Online - job boards
#1 Online - job boards
#2 Referrals
#2 Referrals
#3 Online - company careers website
#3 Online - company careers website
4. Candidate's job hunting behaviour*

Across the region, candidates are actively using online job portals to monitor and scan the job market to apply for jobs. The online application mode is recorded highest in Thailand (6.02).

Candidate's job hunting behaviour

Based on a 7 point scale, where 7 is strongly agree and 1 is strongly disagree

I will actively monitor and scan the job market

I will actively apply to new job opportunities

I will use online job portals to monitor and scan the job market

I will use online job portals to apply to new job opportunities

I will not actively apply, but will be open to opportunities that are presented to me

I have no plans of leaving my current job / employer in the coming year

Insights from job ad volume on jobsDB and JobStreet.com in 2017

5. Top 3 key industries that are hiring

Manufacturing and production industries are key drivers for developing economies such as Indonesia, Malaysia and Thailand.

Hong Kong
Top 1

Financial Services

Top 2

Trading and Distribution

Top 3

Information Technology

Indonesia
Top 1

Manufacturing / Production

Top 2

Retail / Merchandise

Top 3

Banking / Financial Services

Malaysia
Top 1

Manufacturing / Production

Top 2

Banking / Financial Services

Top 3

Construction / Building / Engineering

philippines
Top 1

Call Center / IT-Enabled Services / BPO

Top 2

Retail / Merchandise

Top 3

Manufacturing / Production

Singapore
Top 1

Healthcare / Medical

Top 2

Banking / Financial Services

Top 3

Education

Thailand
Top 1

Manufacturing

Top 2

Information Technology

Top 3

Wholesale / Retail

Vietnam
Top 1

General & Wholesale Trading

Top 2

Advertising Marketing / Promotion / PR

Top 3

Computer / Information Technology (Software)

6. Job specialisations most in demand

Competition will be stiff for employers looking at hiring candidates with these skill sets.

Hong Kong
Top 1

Sales / Customer Service / Business Development

Top 2

Admin / HR

Top 3

Information Technology

Indonesia
Top 1

Marketing / Business Development

Top 2

Sales - Retail General

Top 3

General / Cost Accounting

Malaysia
Top 1

Finance - General / Cost Accounting

Top 2

Marketing / Business Development

Top 3

IT / Computer - Software

philippines
Top 1

Customer Service

Top 2

IT / Computer

Top 3

Healthcare

Singapore
Top 1

Finance - General / Cost Accounting

Top 2

Marketing / Business Development

Top 3

Banking / Financial Services

Thailand
Top 1

Sales / Customer Service / Business Development

Top 2

Engineering

Top 3

Admin / HR

Vietnam
Top 1

Marketing / Business Development

Top 2

Sales - Corporate

Top 3

IT / Computer - Software

7. Top high-growth industries in 2017

The following industries charted the highest growth rates last year, which means companies in these industries will be active hirers.

Hong Kong
Top 1

Interior Design / Graphic Design

26%
Top 2

Freight Forwarding / Delivery / Shipping

25%
Top 3

Telecommunication

21%
Indonesia
Top 1

Accounting / Audit / Tax Services

204%
Top 2

Advertising / Marketing / Promotion / PR

115%
Top 3

Hotel / Hospitality

80%
Malaysia
Top 1

Consulting (Business & Management)

46%
Top 2

Accounting / Audit / Tax Services

39%
Top 3

Food & Beverage / Catering / Restaurant

26%
philippines
Top 1

Computer / Information Technology (Software)

19%
Top 2

General & Wholesale Trading

17%
Top 3

Property / Real Estate

14%
Singapore
Top 1

Accounting / Audit / Tax Services

85%
Top 2

Banking / Financial Services

39%
Top 3

Semiconductor / Wafer Fabrication

39%
Thailand
Top 1

Architecture / Building / Construction

130%
Top 2

Hospitality / Catering

127%
Top 3

General Business Services

105%
Vietnam
Top 1

Insurance

74%
Top 2

Advertising / Marketing / Promotion / PR

72%
Top 3

Cosulting (Business & Management)

19%

Download the Job Outlook Report 2018 for full details.

Release Date: May 2018


Disclaimer

The information provided in this report is for reference only. Whilst jobsDB endeavours to ensure the accuracy of the information in this report, no express or implied warranty is given by jobsDB as to the accuracy of the information. jobsDB shall not be liable for any damages (including, without limitation, damages for loss of business or loss of profits) arising in contract, tort or otherwise from the use of or inability to use this report, or any material contained in it, or from any action or decision taken as a result of using this report or any such material.