{"id":33688,"date":"2024-01-12T12:58:15","date_gmt":"2024-01-12T07:28:15","guid":{"rendered":"https:\/\/www.foundit.sg\/career-advice\/?p=33688"},"modified":"2024-01-12T13:08:29","modified_gmt":"2024-01-12T07:38:29","slug":"foundit-insights-tracker-singapore-nov-2023","status":"publish","type":"post","link":"https:\/\/www.foundit.sg\/career-advice\/foundit-insights-tracker-singapore-nov-2023\/","title":{"rendered":"Singapore\u2019s Hiring Landscape in November \u201823: foundit Insights Tracker \u00a0"},"content":{"rendered":"\n<p>Singapore witnessed a 17% drop annually in hiring demand in November 2023, according to the foundit Insights Tracker. &nbsp;<\/p>\n\n\n\n<p>The latest fit data indicates for November 2023 indicates a 4% decrease in hiring activity compared to the previous month. The tracker also reflects a 5% drop in hiring demand in the last three months. Also, ongoing economic challenges are expected to persist, impacting the job market in the foreseeable future. &nbsp;<\/p>\n\n\n\n<p>In response, the Singapore Government is initiating measures to aid employers and workers, fostering business transformation and facilitating upskilling opportunities by introducing various programs. <\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vQce8uZr5fb8csmJ-3V4586rsn7_rrCSIwAulIR1x6pAzjNF_p58N9VRng3hrSfB1ZahKJt-A_Z3Kb5\/embed?start=true&#038;loop=false&#038;delayms=5000\" frameborder=\"0\" width=\"960\" height=\"569\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Hiring Trends \u2013 Industry* (YoY numbers) <\/strong>&nbsp;<\/h2>\n\n\n\n<p>Only 3 out of 15 industry sectors monitored by the tracker demonstrated growth in hiring from November&#8217;22 to November&#8217;23 &nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In Demand: <\/strong>&nbsp;<\/h3>\n\n\n\n<p>In November&#8217;23, the<a href=\"https:\/\/www.foundit.sg\/search\/export-import-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong> Import\/Export<\/strong><\/a> (+5%) and Hospitality (+5%) industries stood at the same level demonstrating the strongest annual hiring demand among all monitored sectors, maintaining their robust performance. However, the <a href=\"https:\/\/www.foundit.sg\/search\/retail-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Retail<\/strong><\/a>\/Trade and Logistics (0%) sector showed stagnant hiring demand \u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Facing Challenges: <\/strong>&nbsp;<\/h3>\n\n\n\n<p>The IT, Telecom\/ISP, and BPO\/ITES (-32%) sector persisted with a substantial decrease in hiring activity. Meanwhile, the government is initiating reskilling programs to equip job seekers for emerging roles in the market. &nbsp;<\/p>\n\n\n\n<p>Additionally, BFSI (-22%), <a href=\"https:\/\/www.foundit.sg\/search\/advertising-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\">Advertising<\/a>, Market Research, Public Relations, Media and Entertainment (-18%), and Production\/Manufacturing (-18%) experienced significant annual declines in November&#8217;23. \u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Hiring Trends &#8211; Functional Area (YoY numbers) <\/strong>&nbsp;<\/h2>\n\n\n\n<p><em>The demand for professionals remained positive on an annual basis for 4 of the 13 functions monitored by the tracker. <\/em>&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In demand: <\/strong>&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Legal (+5%) professionals continue to mark the steepest annual increase in hiring demand in November\u201923. Also, the function saw a 15% increase over the last three months. &nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/www.foundit.sg\/search\/real-estate-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Real Estate <\/strong><\/a>(+2%) and Hospitality &amp; Travel (+1%) roles saw a marginal increase in job demand, with an increase in hotel infrastructure. \u00a0<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Facing Challenges: <\/strong>&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.foundit.sg\/search\/software-engineer-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Software<\/strong><\/a>, Hardware, <a href=\"https:\/\/www.foundit.sg\/search\/telecom-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Telecom<\/strong><\/a> (-41%) roles faced a substantial decline, marking the lowest annual demand in e-recruitment across all monitored functions. \u00a0<\/li>\n\n\n\n<li>Moreover, Finance &amp; Accounts (-22%) and Marketing &amp; Communications (-15%) functions also showed a downward trend in online hiring demand annually in November&#8217;23. &nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Among others, <a href=\"https:\/\/www.foundit.sg\/search\/health-care-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Healthcare<\/strong><\/a> (0%) roles saw muted demand on Y-o-Y basis while HR &amp; Admin (-8%), <a href=\"https:\/\/www.foundit.sg\/search\/sales-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\">Sales<\/a> &amp; Business Development (-6%), <strong><a href=\"https:\/\/www.foundit.sg\/search\/customer-service-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\">Customer Service<\/a> <\/strong>(-6%), Purchase\/ Logistics\/ Supply Chain (-10%) and Engineering\/ Production (-10%) saw a subsequent dip. <\/p>\n\n\n\n<div style=\"text-align: center;\">\n<a style=\"display: inline-block;background-color: #7900c6;color: #fff;text-align: center;padding: 10px 20px;text-decoration: none;font-size: 18px;border-radius: 4px;font-weight: bold;\" href=\"https:\/\/media.foundit.in\/career-advice\/wp-content\/uploads\/2024\/01\/fit_SG_-Nov23.pdf\" target=\"_blank\" rel=\"noopener\">Download Nov 2023 fit Report (Singapore) PDF<\/a>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About the foundit insights tracker&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<p>The foundit Insights Tracker (fit) Singapore, earlier known as the Monster Employment Index, is the leading guide to Singapore&#8217;s e-recruitment landscape. By examining millions of job listings, fit provides insights into the hiring trends in Singapore.&nbsp;&nbsp;&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore witnessed a 17% drop annually in hiring demand in November 2023, according to the foundit Insights Tracker. &nbsp; The latest fit data indicates for November 2023 indicates a 4% decrease in hiring activity compared to the previous month. The tracker also reflects a 5% drop in hiring demand in the last three months. Also, [&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-33688","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\/33688","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=33688"}],"version-history":[{"count":2,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/33688\/revisions"}],"predecessor-version":[{"id":33692,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/33688\/revisions\/33692"}],"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=33688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/categories?post=33688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/tags?post=33688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}