Malaysia recorded its highest level of retrenchments since the pandemic, with 42,807 people losing their jobs between January and June 2026. Business closures and company downsizing accounted for 40.85% of these job losses.
The impact has been particularly pronounced in the Klang Valley, with Kuala Lumpur and Selangor together accounting for almost six in 10 job losses nationwide.
However, hiring has not stopped. Data from Jobstreet by SEEK shows that recruitment demand remains concentrated in specific industries and roles, indicating that opportunities are still available for jobseekers who know where to look.
Across the Klang Valley, more than half of all job advertisements (54.2%) and applications (55.9%) were concentrated within 10 industries, led by manufacturing, retail, banking, technology and construction.
For jobseekers, this means opportunities remain available, but securing a new role increasingly depends on targeting sectors where employers continue to hire and ensuring their skills match current market demand.
Salary dissatisfaction continues to influence job moves
Finding a job, however, is only part of the equation. Workers are also becoming more selective about where they work and whether their compensation reflects their expectations.
Jobstreet by SEEK’s Salary Pulse report found that while 81% of workers feel fairly or well paid, only 49% are happy with their salary. Those who are unhappy with their pay are 2.5 times more likely to consider changing jobs.
The findings highlight the growing importance of salary satisfaction in employee retention, particularly as workers assess their career options in an increasingly competitive labour market.
While competitive remuneration remains an important consideration, salary is not the only factor influencing whether employees stay with an organisation.
Workplace wellbeing remains a concern
Jobseekers and employees are also placing greater emphasis on workplace wellbeing, purpose and company culture.
Jobstreet by SEEK’s Workplace Happiness Index report found that 70% of Malaysian workers are happy at work, yet 41% feel burnt out or exhausted.
The findings suggest that while salary continues to matter, meaningful work, purpose and workplace culture are increasingly important factors in determining whether Malaysians choose to remain in their current roles or seek new opportunities.
For employers, this creates a more complex hiring and retention landscape, where attracting talent involves more than simply offering an available position.
MCTF 2026 connects Malaysians with active employers
Against this backdrop, the Malaysia Career & Training Fair (MCTF) 2026 aims to help Malaysians navigate a more competitive and fast-changing job market by connecting them with active employers, practical career guidance and in-demand opportunities.
Co-organised by Jobstreet by SEEK and AIC Exhibitions, MCTF 2026 will take place on 5 and 6 September 2026 at the Mid Valley Exhibition Centre in Kuala Lumpur.
The career fair will feature more than 15,000 job opportunities and is expected to welcome approximately 30,000 visitors over the two days.
The event is designed to give jobseekers greater access to employers and current vacancies while helping them better understand the skills and industries where hiring demand remains strong.
Jobseekers urged to target areas of active demand
Nicholas Lam, Managing Director at Jobstreet by SEEK in Malaysia, said retrenchments should not be taken to mean that hiring has come to a complete standstill.
“Retrenchments don’t mean hiring has stopped. Employers are still recruiting, but demand is becoming increasingly concentrated in particular industries, roles and skill sets. Jobseekers are also looking beyond whether a job is available. Salary, career growth, purpose and wellbeing all influence whether a role is the right fit. MCTF brings employers, active vacancies and practical career guidance together to help Malaysians make their next move with greater confidence.”
With retrenchments continuing to affect parts of the Malaysian labour market, the data suggests that jobseekers may need to take a more targeted approach to their job search — focusing on industries with active hiring demand while considering the wider factors that contribute to long-term career satisfaction.
