Singapore saw an increase in online recruitment in November 2018, with a 5% rise in job postings compared to the same period in 2017, as reported by the Monster Employment Index (MEI). This represents a significant jump from the 1% growth recorded in October 2018.
The IT, telecom, BPO/ITES sector experienced the most substantial growth, surging by 22% year-on-year, marking its highest point since March 2018. BFSI and advertising also demonstrated positive trends, rising by 16% and 15% respectively compared to the previous year.
While BFSI has consistently contributed to Singapore’s employment market, the advertising industry achieved double-digit growth for the first time in eight months. Conversely, sectors like hospitality, shipping/marine, consumer goods, and healthcare faced a decline in online recruitment activities, with year-on-year drops of 4%, 3%, 2%, and 1% respectively.
Data from the Monster Employment Index indicated that software/hardware/telecom professionals were highly sought after in November, with an 8% year-on-year increase in demand. Other in-demand roles included marketing & communications, customer service, and finance & accounts, which saw respective increases of 6%, 5%, and 5% year-on-year.
Conversely, the demand for healthcare professionals experienced a significant decrease of 10% between November 2017 and 2018. While this is an improvement from the 14% decline observed in October, the sector still has ground to cover. Similarly, demand for hospitality and real estate professionals dropped by 4% and 2% respectively.
Abhijeet Mukherjee, CEO of Monster.com - APAC and Middle East, highlighted that while technological advancements like automation are changing the job landscape, they are also creating new opportunities. Companies are investing in AI and machine learning, necessitating a workforce equipped to adapt and work alongside these technologies.
Mukherjee emphasized the IT industry’s impressive 22% year-on-year growth as a driving force behind Singapore’s online hiring surge. He stressed the importance of employers and educators collaborating to foster 21st-century technological skills in the workforce to maintain this positive trend.
The Monster Employment Index provides a monthly overview of online job posting activity, analyzing millions of job openings across a wide selection of career websites and online job boards in Singapore. It reflects overall industry trends rather than individual employer data, offering a comprehensive view of the job market’s dynamics.
Source: Monster. Monster Employment Index figures for job categories with the most (left) and least (right) demand for new hires, Singapore, November 2018.
Source: Monster. Monster Employment Index figures for industries with the most (left) and least (right) demand for new hires, Singapore, November 2018.