{"id":20490,"date":"2023-09-21T13:39:47","date_gmt":"2023-09-21T08:09:47","guid":{"rendered":"https:\/\/www.foundit.sg\/career-advice\/?p=20490"},"modified":"2023-11-15T13:43:41","modified_gmt":"2023-11-15T08:13:41","slug":"foundit-insights-tracker-singapore-aug-2023","status":"publish","type":"post","link":"https:\/\/www.foundit.sg\/career-advice\/foundit-insights-tracker-singapore-aug-2023\/","title":{"rendered":"Understanding Singapore&#8217;s Hiring Climate in August 2023 through foundit Insights Tracker\u00a0"},"content":{"rendered":"\n<p>The foundit Insights Tracker (fit) Singapore is a monthly look into the city-state&#8217;s recruitment trends. Based on extensive analysis of job postings, the fit offers a holistic understanding of e-recruitment activities in Singapore, providing actionable insights for job seekers and employers alike.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Snapshot of Hiring Landscape&nbsp;<\/strong>&nbsp;<\/h3>\n\n\n\n<p>In August 2023, fit Singapore saw a 1% dip in hiring from the previous month, and a discernable 4% decrease over the last quarter. These numbers in the job market mirrors the overarching slowdown in the <strong><a href=\"https:\/\/www.foundit.sg\/career-advice\/4-most-sought-after-skills-in-the-singapore-job-market\/\" target=\"_blank\" rel=\"noopener\" title=\"Singapore job market\">Singapore job market<\/a><\/strong>.&nbsp;&nbsp;<\/p>\n\n\n\n<p>As the economic curve moderates, the labor market shows vulnerability, translating to a slower hiring rhythm.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Sectoral Analysis<\/strong>&nbsp;<\/h3>\n\n\n\n<p><strong>Spotlight: <\/strong>Despite an overarching decline across sectors, the Import\/Export sector stood out with a +2% YoY growth.&nbsp;&nbsp;<\/p>\n\n\n\n<p>There is an unmistakable correlation between this growth and the amplified trade values for imports, underscoring the sector&#8217;s steadfastness even amid challenging times.&nbsp;<\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vSe7IHcIB16lMBBP_tc7Tl4k6ipZJfZ2SS0jEGvfFePAGy9tjzGJqr9Pw_trjrW2w\/embed?start=false&#038;loop=false&#038;delayms=3000\" frameborder=\"0\" width=\"640\" height=\"389\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n\n\n\n<p><strong>Challenges: <\/strong>The IT, Telecom\/ISP, and BPO\/ITES sector, echoing global uncertainties, recorded a significant downturn of -28% YoY.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Meanwhile, Production\/Manufacturing, grappling with reduced foreign demand and surging inflation, nosedived by -20% YoY.&nbsp;<\/p>\n\n\n\n<p>Several other sectors, including but not limited to Oil &amp; Gas, Retail\/Trade and Logistics, Shipping\/Marine, Hospitality, and <strong><a href=\"https:\/\/www.foundit.sg\/search\/healthcare-jobs\" target=\"_blank\" rel=\"noopener\" title=\"Healthcare\">Healthcare<\/a><\/strong>, experienced a downtrend, with Advertising, Market Research, Public Relations, Media and Entertainment, and BFSI notably dropping by 16%.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Functional Insights<\/strong>&nbsp;<\/h3>\n\n\n\n<p><strong>Spotlight: <\/strong>August saw Real Estate professionals in high demand, soaring by +13% annually, largely due to the mounting interest in private homes and specific needs from the expatriate community.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Additionally, the Hospitality &amp; Travel sector grew by +8% annually, courtesy of innovative offerings from travel tech firms. The Healthcare sector too, with a +4% annual growth, resonated with the rising demand for Healthcare Assistants across industries.&nbsp;<\/p>\n\n\n\n<p><strong>Facing Headwinds:<\/strong> Unfortunately, some functions struggled. Software, Hardware, and Telecom roles experienced the sharpest YoY decline at -38%, indicating the challenges posed by the global tech landscape.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Additionally, roles in Marketing &amp; Communications and Finance &amp; Accounts saw YoY drops of -18% and -13% respectively.&nbsp;<\/p>\n\n\n\n<p>Other functions, including HR &amp; Admin, <strong><a href=\"https:\/\/www.foundit.sg\/search\/customer-service-jobs\" target=\"_blank\" rel=\"noopener\" title=\"Customer Service\">Customer Service<\/a><\/strong>, and Engineering\/Production, among others, experienced varying degrees of decline.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In Conclusion<\/strong>&nbsp;<\/h3>\n\n\n\n<p>Singapore&#8217;s job market in August 2023 reflects its economic challenges, with several sectors facing headwinds. However, specific sectors and functions are bucking the trend, presenting opportunities for the discerning professional.&nbsp;&nbsp;<\/p>\n\n\n\n<p>For a more in-depth understanding of Singapore&#8217;s employment pulse, dive into the detailed fit report.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The foundit Insights Tracker (fit) Singapore is a monthly look into the city-state&#8217;s recruitment trends. Based on extensive analysis of job postings, the fit offers a holistic understanding of e-recruitment activities in Singapore, providing actionable insights for job seekers and employers alike.&nbsp; Snapshot of Hiring Landscape&nbsp;&nbsp; In August 2023, fit Singapore saw a 1% dip [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-20490","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-insights-tracker"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/20490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/comments?post=20490"}],"version-history":[{"count":4,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/20490\/revisions"}],"predecessor-version":[{"id":22558,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/20490\/revisions\/22558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/media\/17264"}],"wp:attachment":[{"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/media?parent=20490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/categories?post=20490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/tags?post=20490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}