The foundit insights tracker for Singapore showed a 13% annual decline in e-recruitment as of October 2023, with a moderate month-over-month increase.
Hiring Landscape
Despite the YoY decline, the tracker’s month-over-month increase of xx% increase suggests an emerging positive trend in the job market.
Key Findings — Sector-wise Insights
Growth Sectors: Retail/Trade and Logistics (+13%), Hospitality (+9%), and Government/PSU/Defence sectors (+3%) showed positive growth. Growth in hospitality can be directly attributed to resurgence of air travel and rise in inbound tourism.
Declining Sectors: IT, Telecom/ISP (-26%), BFSI (19%), and Advertising sectors experienced notable annual decreases.
Functional Area Insights
In Demand: Real Estate and Hospitality & Travel roles showed significant increases in demand, with +18% and +14% growth respectively.
Facing Challenges: Software, Hardware, Telecom (-40%), Finance & Accounts (-17%), and Marketing & Communications (-14%) roles witnessed notable declines.
About the foundit insights tracker
The foundit Insights Tracker (fit) Philippines, earlier known as the Monster Employment Index, is the leading guide to Singapore’s e-recruitment landscape. By examining millions of job listings, fit provides insights into the hiring trends in Singapore.
