In a statement, Monster.com noted that the increase in online hiring activity came on the back of a Grant Thornton International Business report which found that the outcome of the May 9 polls had contributed to a significant increase in confidence among business owners in Malaysia.

In its own Southeast Asia Q2 Online Recruitment Trends Report, Monster.com found that hiring in the IT, telecommunications and business process outsourcing sector recorded a 20% increase, continuing the strong start from the first quarter.

Online hiring also increased by 5% for the oil and gas sector, while the market research, PR, media, advertising and entertainment sector marked a 7% increase.

Hiring in the banking sector saw a 3% increase from the first quarter but was still “considerably” weak compared to the corresponding quarter last year. This was attributed to disruptions in the sector by emerging fintech startups and blockchain technology.

“The first initiatives and regulatory changes are already underway,” said Monster.com Apac and Middle East chief executive Abhijeet Mukherjee.

He noted that Putrajaya was planning to simplify the overall recruitment process for businesses, eliminating middlemen and potential points of corruption.

“While the first signs of change are visible, the path to a booming economy remains rocky.”