Could 'disconnect' hamper employers' recruitment efforts?
Job postings advertising remote work in Singapore are still lagging despite jobseekers' strong demand for the work scheme, according to a new report.
Only 6.6% of job postings in May used the keywords "work from home" or "remote work" in their job descriptions, data from recruitment website Indeed revealed.
"That figure has drifted upwards this year but remains well below the levels observed in late 2021," Indeed said in a media release.
Remote work opportunities in Singapore have been seeing a steady decline since last year when workplace activities began returning on-site, according to the Ministry of Manpower (MOM).
In 2022, roles offering remote work dropped to 21%, the ministry's Job Vacancies 2022 report found.
The drop comes despite jobseekers' strong desire for the scheme, as 3.5% or one in every 28 searches are using keywords related to remote work, according to Indeed.
Callam Pickering, APAC Senior Economist at Indeed, said the employer-jobseeker disconnect may have an effect on employers' recruitment plans.
"Jobseekers continue to value the flexibility offered by remote work. It'll be interesting to see whether this apparent disconnect between employers and jobseekers hampers the ability of some employers to attract suitable candidates going forward," Pickering said in a statement.
Job ads also on downward trend
Meanwhile, job postings on Indeed also posted their seventh consecutive monthly dip after recording a 1.2% decline in May.
According to Indeed, job postings are 16.5% lower than a year ago but are still 1.7 times higher in May as there were before pre-pandemic.
Over the past three months, there has been a strong decline in job postings in healthcare-related industries, such as Pharmacy (-37.5%), Dental (-33.4%), and Veterinary (-24.3%) roles.
Despite the drop in job postings, Pickering said the labour market remains "incredibly tight" with strong demand for workers and unemployment rate at 1.8% in the first quarter of the year.
The declining job ads is the "first real sign" of the economy's impact on the job market, according to Pickering.
"We anticipate that job postings will continue to moderate over the remainder of the year, consistent with the slowdown in economic conditions," he said.
It also comes amid an "incredibly tight" labour market, as there is strong demand for workers while Singapore's unemployment rate remained low at 1.8% in the first quarter.
"Nevertheless, job posting volumes continue to decline, down for seven consecutive months. A more challenging economic environment, including a global slowdown, will likely lead to a further decline in job postings over the remainder of the year," Pickering said.
