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1Q 2018 Labour Market Statistics of the Financial Services Sector

Release Date: 17 May 2018

As at end-1Q 2018, total employment in the financial services sector, covering banking institutions, development financial institutions and insurance companies/Takaful operators stood at 164,216 persons (1Q 2017: 165,318).

The quarter also observed movements towards a more balanced market equilibrium following previous periods of high job creation. This is reflected in the decline in job vacancies (5,836 jobs; 1Q 2017: 6,030 jobs), lower new jobs created (1,458 jobs; 1Q 2017: 2,309 jobs), accompanied by sustained new hires and recalls (6,282 jobs; 1Q 2017: 6,347 jobs). Industry demand for high-skilled workers remains strong, accounting for approximately 97% of total new jobs created in 1Q 2018.

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