{"id":34488,"date":"2024-02-26T11:09:55","date_gmt":"2024-02-26T05:39:55","guid":{"rendered":"https:\/\/www.foundit.sg\/career-advice\/?p=34488"},"modified":"2025-09-29T12:34:28","modified_gmt":"2025-09-29T07:04:28","slug":"foundit-insights-tracker-singapore-jan-2024","status":"publish","type":"post","link":"https:\/\/www.foundit.sg\/career-advice\/foundit-insights-tracker-singapore-jan-2024\/","title":{"rendered":"Singapore\u2019s Hiring landscape in January 2024: foundit Insights Tracker\u00a0"},"content":{"rendered":"\n<p>The foundit insights tracker in Singapore&#8217;s registered a 11% drop in annual hiring demand in January 2024, with a 2% uptick in hiring activity compared to the previous month.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Hiring Trends in Singapore&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<p>Over the past six months, the tracker highlights a 6% decline in hiring demand, reflecting the broader challenges in the global economy. As cyclical changes persist, there has been a reduction in employment opportunities, impacting Singapore&#8217;s job market.\u00a0<\/p>\n\n\n\n<iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vT0AkQJXOJl6aYDZUpqax3NwBwl7Na2DJ5J2EFAMR4hRROgadBG_lhqRuxmp2Gm7U8AfivUSB-sFVKL\/embed?start=true&#038;loop=true&#038;delayms=3000\" frameborder=\"0\" width=\"960\" height=\"569\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n\n\n\n<p><\/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\/02\/fit_report_Singapore_hiring_trends_-January_2024.pdf\" target=\"_blank\" rel=\"noopener\">Download Jan 2024 fit Report (Singapore) PDF<\/a>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Hiring Trends \u2013 Industry* (YoY numbers)&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<p><em>Only 3 out of 15 industry sectors monitored by the tracker demonstrated annual growth in hiring&nbsp;&nbsp;<\/em>&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In demand:&nbsp;<\/strong>&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Hospitality (+2%) and Import\/Export (+1%) sectors monitored marginal yet continued growth in hiring and showcased the need for talent in these sectors.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Holding steady:&nbsp;<\/strong>&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.foundit.sg\/search\/retail-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Retail<\/strong><\/a>\/Trade and Logistics (0%) sector exhibited a stagnant hiring demand indicating a prolonged period of muted recruitment activity in this sector.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In decline:&nbsp;<\/strong>&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.foundit.sg\/search\/it-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>IT<\/strong><\/a>, <a href=\"https:\/\/www.foundit.sg\/search\/telecom-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Telecom<\/strong><\/a>\/ISP, and BPO\/ITES (-32%) sector witnessed a significant decline in hiring activity, reflecting a challenging employment landscape. (But roles such as Software and Multimedia Developers show constant demand, showcasing the resilience of specific skill sets in the market.) \u00a0<br>\u00a0<\/li>\n\n\n\n<li>The BFSI (-31%) sector witnessed a substantial decline.&nbsp;<br>&nbsp;&nbsp;<\/li>\n\n\n\n<li>Similarly, the <a href=\"https:\/\/www.foundit.sg\/search\/advertising-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Advertising<\/strong><\/a>, <a href=\"https:\/\/www.foundit.sg\/search\/market-research-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Market Research<\/strong><\/a>, Public Relations, Media, and Entertainment (-26%) sector experienced a noteworthy annual decrease in hiring demand for January&#8217;24.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Hiring Trends &#8211; Functional Area (YoY numbers)&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<p><em>Out of the 13 functions monitored by the tracker, just one function demonstrated positive annual growth in January\u201924&nbsp;<\/em>&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In demand:&nbsp;<\/strong>&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.foundit.sg\/search\/legal-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Legal <\/strong><\/a>(+11%) professionals experienced an increase in demand and stood out as the most sought-after in the region. Remarkably, this specific function is the only area to maintain steady growth over the past six months.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>In decline:&nbsp;<\/strong>&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.foundit.sg\/search\/customer-service-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Customer Service<\/strong><\/a> (-2%), <a href=\"https:\/\/www.foundit.sg\/search\/sales-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Sales<\/strong><\/a> &amp; Business Development (-4%), Hospitality &amp; <a href=\"https:\/\/www.foundit.sg\/search\/travel-tourism-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Travel <\/strong><\/a>(-5%), Engineering\/ Production (-8%), Purchase\/ Logistics\/ Supply Chain (-9%), HR &amp; Admin (-9%), Healthcare (-10%) and Real Estate (-20%) saw a subsequent dip in January\u201924 on Y-o-Y basis.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>There was also a downturn in <a href=\"https:\/\/www.foundit.sg\/search\/finance-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Finance<\/strong><\/a> &amp; <a href=\"https:\/\/www.foundit.sg\/search\/general-accounts-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Accounts<\/strong><\/a> (-28%) roles, and the <a href=\"https:\/\/www.foundit.sg\/search\/marketing-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Marketing<\/strong><\/a> &amp; Communications (-9%) function showed a declining trend in online hiring demand for January&#8217;24 compared to the previous year.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Steep decline:<\/strong>&nbsp;&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Software, Hardware, Telecom (-46%) roles observed the most significant annual decline in e-recruitment, indicating the lowest demand among all monitored functions.&nbsp;&nbsp;<\/li>\n<\/ul>\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\u2019s e-recruitment landscape. By examining millions of job listings, fit provides insights into the hiring trends in Singapore.&nbsp;&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The foundit insights tracker in Singapore&#8217;s registered a 11% drop in annual hiring demand in January 2024, with a 2% uptick in hiring activity compared to the previous month.&nbsp;&nbsp; Hiring Trends in Singapore&nbsp;&nbsp; Over the past six months, the tracker highlights a 6% decline in hiring demand, reflecting the broader challenges in the global economy. [&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-34488","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\/34488","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=34488"}],"version-history":[{"count":2,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/34488\/revisions"}],"predecessor-version":[{"id":34493,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/34488\/revisions\/34493"}],"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=34488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/categories?post=34488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/tags?post=34488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}