Singapore’s job market experienced a continued decline in job postings for the eighth consecutive month in October, dropping by 3.1%, according to Indeed’s latest Hiring Lab report. Although postings are 17.9% lower than a year ago, they remain 32% above pre-pandemic levels, maintaining a low unemployment rate.
The report highlights that 86% of occupations still have job postings above pre-pandemic levels, with 8% more than double. Sectors such as pharmacy, sport, and hospitality & tourism are leading the demand, with increases of 181%, 122%, and 119% respectively. Over the past three months, retail, hospitality & tourism, and healthcare have shown significant growth, with retail postings up by 17%.
Conversely, some sectors have seen notable declines. Childcare postings fell by 30%, driving by 24.9%, and sports by 18.6%. Despite these declines, the overall market remains tight, with skill shortages persisting.
Remote work trends are also shifting, with 8.2% of job postings mentioning remote work options, up from 7.7% a year ago. IT infrastructure, insurance, and sales lead in remote opportunities, with 17.2%, 15.3%, and 14.9% of postings respectively. Changes in remote work availability reflect evolving employer attitudes and efforts to attract candidates. The unemployment rate remains low at 2.0%, with no immediate signs of stabilisation in job posting volumes.
