KUALA LUMPUR: The pace of hiring may be modest in coming months due to a moderate global growth outlook even as the labour market remains steady.
Employment continued to expand, by +0.1 per cent on a month-on-month (MoM) basis and +0.2 per cent in a year-on-year (YoY) basis, in September albeit at a slower pace.
Hong Leong Investment Bank (HLIB) Research said employment growth was spearheaded by the services sector, particularly in wholesale and retail trade, food and beverage services and transportation and storage activities, in line with the rise in tourism activities.
The manufacturing, construction, mining and agriculture sectors also observed an increase in employment during the month.
In terms of employment status, the number of own account workers expanded at a slower pace (+0.2 per cent MoM).
Separately, Social Security Organisation (Perkeso) reported loss of employment of 2,700 persons as of mid-Oct (Sep: 4,200 persons). Kuala Lumpur (36.5 per cent) and Selangor (26.9 per cent) remained the two states with the highest number of job losses.