Singapore’s job market is showing signs of recovery, with hospitality and tourism sectors spearheading the resurgence. According to Indeed’s latest data, job postings in these sectors have surged by 64.3% over the past three months. This rebound comes after a period of decline, with overall job postings in Singapore rising by 1.0% in September, ending two consecutive months of downturn.
The data highlights a notable trend towards job stability in certain professions. Nursing, food and beverage, and accounting roles are seeing longer career pathways, with workers in these fields showing a strong preference for staying within their industries. Indeed’s report reveals that only 11.9% of registered nurses and 12.7% of line cooks have switched professions between 2022 and 2024.
Conversely, sectors such as dental, childcare, and insurance have experienced significant declines in job postings, with reductions of 27.1%, 23.1%, and 17.6% respectively. Callam Pickering, Indeed’s APAC Senior Economist, noted, “Singapore job postings rebounded slightly in September, but we expect job postings to continue to moderate going forward.”
Despite the recent uptick, Singapore’s job figures remain 14.5% lower than a year ago, indicating a longer-term downward trend. The labour market remains tight, with a low unemployment rate of 2.0% and ongoing skill shortages. As the market adjusts, job seekers are motivated by various factors, including higher pay, career advancement, and improved work-life balance.
