Job market booms as Singapore invests in hiring

Hiring activity in Singapore has increased 11% in the month of April

Job market booms as Singapore invests in hiring

As Singapore emerges from the pandemic and the workforce’s return to the office, the job market continues to recover strongly, trending quickly towards pre-pandemic levels, according to the Monster Employment Index (MEI) report released on Wednesday.

Hiring activity in Singapore has increased 11% in the month of April with the education industry maintaining its top spot for increase in hiring activity for two consecutive months. The education industry saw a 16% rise in April, building on the 16% rise the sector also saw in March. The education sector was severely impacted by border closures during the pandemic, restricting the swarm of international students flocking to study here as they usually do, it’s encouraging to see strong recovery in Singapore’s world-class education system since Singapore’s first international students flew in from Sydney in November 2021.

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Global online career and recruitment company Monster publishes the MEI report which presents a snapshot of monthly employer online recruitment activity across Singapore. It provides a real-time review of data from millions of employer job opportunities, taken from a large, representative selection of online career outlets, 

Other industries that saw substantial increases

Not far behind the education sector, market research, public relations and media and entertainment industry saw a 15% rise in hiring activity. Banking, financial services and insurance saw an 11% incline, and when broken down into functional area, the sectors finance and accounts area came out on top with a substantial rise of 35%.

Industries with marginal increases

  • Retail, trade and logistics – up 6%
  • Hospitality – up 5%
  • IT, Telecom/ISP – up 4%
  • Engineering, construction and real estate – up 2%
  • Production/Manufacturing – up 1%

Other functional areas within industries enjoying a marked increase in growth momentum in hiring were software, hardware, telecom (up 34%), legal (up 26%), HR & Admin (up 22%) Marketing & Communications (up 19%) and real estate (up 12%).

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While the data paints an overall strong view of recovery for Singapore businesses, some sectors are trending down in hiring activity. Yahoo!news cited the Indonesian government’s ban on palm oil and the possible impact of  the Russia-Ukraine war and the global supply chain crisis as potential reasons for declines in the import/export industry (down 9%), oil and gas industry (down 4%) and shipping and marine industry (down 2%).

The biggest declines in hiring activity were seen in the government/PSU/defence and consumer goods/FMCG industries.

“As Singapore moves closer to pre-pandemic levels, we are hopeful to see a close to full recovery in the coming months, especially in sectors such as education and travel and tourism,” said Sekhar Garisa, CEO, – APAC and Gulf.

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