KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Key Highlights:
Decline in Degree Requirements:
- Only 17.6% of job postings required at least a bachelor’s degree in October, down from 20% in 2019, according to Indeed Hiring Lab.
- The shift reflects a post-pandemic strategy to attract a broader pool of skilled workers, even without formal degrees.
Impact of Pandemic Recovery:
- During acute labor shortages, employers, including major corporations like IBM Corp, dropped degree requirements to fill positions quickly.
- This move opened opportunities for the 60% of Americans without college degrees.
Stabilization Below Pre-Pandemic Levels:
- While the job market moderated in 2024, the share of postings requiring degrees has stabilized but remains lower than pre-pandemic levels.
Challenges for College Graduates:
- A Federal Reserve Bank of New York analysis shows over 40% of recent college grads are underemployed, working in jobs that don't require a degree.
- This trend is impacting wage growth and job alignment for university graduates.
Takeaway:
The pandemic has permanently reshaped hiring practices, with many employers prioritizing skills over formal education. While this benefits non-degree holders, it poses challenges for college graduates entering a competitive job market.
Comments
Post a Comment