Singapore, 14 Feb 2022 – Job opportunities for Singapore workers continue to rise despite the increasing number of COVID-19 cases in the city. By the end of January, jobs posted on the leading global jobs portal Indeed in Singapore were up 93% from their level on February 1, 2020, almost two years after the pandemic’s onset.
Singapore job postings have exceeded pre-COVID levels since October 2020 and have regained momentum after the economic restrictions in mid-2021.
Callam Pickering, Indeed’s APAC economist, noted that “globally the past two years have been difficult for employees. However, the strong demand for workers in Singapore is a great sign for future employment growth and clearly indicates that the Singapore labour market will tighten in the near term. Businesses are optimistic about their prospects and confident in Singapore’s broader economic recovery despite the rising number of COVID-19 cases recently.”
Mr Pickering also says that Singapore’s job market is favourable for jobseekers but challenging for recruiters. “We have seen demand for talent rise across every occupational category, although to a much greater extent in some occupations than in others. Workers in Singapore have greater choice and more bargaining power than before the pandemic. This may lead to more positive outcomes for employees in terms of higher compensation and workplace benefits. As the economy continues to recover, we do anticipate skills shortages becoming further exacerbated.”
Demand for jobs was highest in production roles, up 146% since February 1, 2020. Next strongest was the engineering sector (+140%), installation & maintenance roles (+130%), tech (+118%) and construction (+101%). These categories experienced postings growth that exceeded the national average throughout the pandemic.
Strong demand in some of these occupations, mainly production and construction, reflect widespread job losses due to the pandemic. Businesses in these industries now need to re-hire for those lost jobs. Strong postings in other occupations though, such as tech, are simply reflective of the growing demand for skills in these areas.
Indeed reported slower growth in sectors such as community, social science, law, retail and customer and personal services. On the whole, hiring has been consistent with strong employment growth and further reducing Singapore’s unemployment growth. Singapore’s unemployment rate is already low at 2.4% but has the potential to fall even further in line with general business optimism.
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