KUALA LUMPUR (June 6): Malaysia registered an 18% year-on-year (y-o-y) decline in online hiring in April 2016, compared to a drop of only 3% by both Singapore and the Philippines, said Monster.com.

For Malaysia, this was a further decline from an 11% y-o-y drop reported in March 2016, it said in its latest Monster Employment Index (MEI) findings.

According to the findings, between April 2015 and April 2016, none of the job sectors and occupational groups in Malaysia registered positive annual growth.

Malaysia also recorded the sharpest drop in hiring of banking, financial services and insurance professionals among the three countries, declining 22% y-o-y in April 2016. The Philippines recorded a 19% growth and Singapore a 3% decline.

For online job postings for finance and accounts roles, Malaysia reported a 20% y-o-y decline, against a 12% fall by Singapore and a 3% growth by the Philippines.

Malaysia's software, hardware, telecom sector experienced the steepest drop in demand at 38%, while logistic, courier/freight/transportation, shipping/marine sector plunged 35%.

Annual demand for marketing and communications professionals in Malaysia reported the least decline at 1%, while the advertising, market research, public relations, media and entertainment sector saw a 4% fall.

Monster.com managing director for India, Middle East, Southeast Asia, Hong Kong Sanjay Modi said the weaker hiring activities in the first quarter of 2016 are in part due to the volatile markets, which have impacted banks' earnings.

"As economies become more digitised, employers are looking to streamline internal and external processes with technology, reducing the need for additional manpower," he said.

"That said, employers are still actively seeking the best candidates to fill the critical roles that can drive businesses forward," he added.

The MEI measures online job hiring activity monthly, recording the industries and occupations that show the highest and lowest growth in recruitment activity across Singapore, Malaysia and the Philippines.

The index is based on a real-time review of millions of employer job opportunities culled from a large representative selection of career websites and online job listings.