Singapore’s job market continues to demonstrate resilience despite a fifth consecutive month of declining job postings, according to the latest data from Indeed’s Hiring Lab. The report highlights a significant increase in demand for technical roles, particularly in civil engineering, which saw a 19% rise in job postings over the past three months. This surge is attributed to large-scale public infrastructure projects, such as Changi Airport Terminal 5.
Whilst the overall market cooled with a 0.9% month-on-month decline in May, job postings remain 40% above their February 2020 baseline. Other sectors experiencing growth include childcare, with a 13% increase, sports at 12%, and data analytics at 5.6%. However, healthcare-related roles such as pharmacy, veterinary, and physician/surgeon positions saw notable declines, with pharmacy postings dropping by 45%.
Senior Economist Callam Pickering commented, “The pace of job decline has moderated. With a low unemployment rate of 2.1%, employers are still grappling with skill shortages despite cooling hiring.”
The report also notes shifts in job market dynamics since last year. Management roles have increased slightly, whilst education roles have grown from 4.3% to 4.7% of total postings. Conversely, software development roles have decreased by 1.2 percentage points.
Despite these fluctuations, the demand across most sectors remains robust compared to pre-pandemic levels. However, geopolitical and economic uncertainties could impact future job creation, as businesses face challenges in planning ahead.
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