Which sectors see rise in demand for labour?
Singapore's job market is a "mixed bag" as overall hiring activity dipped in November despite some sectors seeing a rise in demand for workers, according to the latest findings from foundit.
The report highlights a six per cent year-on-year drop in recruitment activity, with the index falling from 113 in November 2023 to 106.
It also dropped slightly from 107 in October 2024 and went down five per cent over the past six months, according to the report.
Foundit attributed the decline to various factors, including budget constraints, shifting industry priorities, and workforce strategy adjustments.
Despite the overall downturn, certain sectors saw a rise in demand, the report noted.
The education sector remained resilient, with a one per cent increase in hiring in November, driven by opportunities in online education platforms and professional development programmes.
Other sectors that also recorded a one per cent increase in hiring activity include:
Import/Export sector
Advertising, Market Research, Public Relations, Media, and
Entertainment sector
Healthcare sector
"There is a marginal increase in hiring across certain industry sectors and roles," said a foundit official in a statement.
The official, however, pointed out a "silver lining" in the surge in roles in legal and compliance over the year, which went up 37%.
There was also an approximately five per cent increase in job in renewable energy, sustainability, and environmental engineering due to Singapore's Green Plan 2030 initiative.
"Overall, Singapore's job market is a mixed bag and will constantly evolve," the foundit official said.
On the other hand, sectors that had experienced a spike in hiring activity in previous months showed a reversal.
The IT, telecom, and BPO sectors experienced a two per cent drop, while retail and logistics saw a three per cent decline in November.
Other sectors that recorded a decrease in hiring activity include:
Banking, financial services, and insurance (BFSI) sector (-4%)
Production/Manufacturing, Automotive, and Ancillary (-1%)
Engineering (-1%)
Construction (-1%)
Real Estate (-1%)
Hospitality (-1%)
