{"id":36401,"date":"2024-03-22T17:37:00","date_gmt":"2024-03-22T12:07:00","guid":{"rendered":"https:\/\/www.foundit.sg\/career-advice\/?p=36401"},"modified":"2025-09-29T12:34:11","modified_gmt":"2025-09-29T07:04:11","slug":"foundit-insights-tracker-singapore-feb-2024","status":"publish","type":"post","link":"https:\/\/www.foundit.sg\/career-advice\/foundit-insights-tracker-singapore-feb-2024\/","title":{"rendered":"Singapore Hiring Landscape in February 2024: Insights from foundit Insights Tracker\u00a0"},"content":{"rendered":"\n<p>Singapore&#8217;s foundit Insights Tracker has reported a significant 22% drop annually in hiring demand as of February 2024.&nbsp;<\/p>\n\n\n\n<p>There has been a 4% reduction in hiring activity compared to the previous month, as January 2024, further reflecting this downturn.&nbsp;<\/p>\n\n\n\n<p>Over the past six months, the tracker has revealed a significant 7% decline in hiring demand, mirroring broader economic challenges faced by both Singapore and the global economy.&nbsp;&nbsp;<\/p>\n\n\n\n<p>This persistent trend has resulted in a notable reduction in employment opportunities, exacerbating strains on Singapore&#8217;s job market. Proactive measures are essential to address these challenges and navigate the toughening job market landscape.\u00a0<\/p>\n\n\n\n<div style=\"text-align: center;\">\n    <iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vQ0msGfkh-1THyQZ6B8qpcTZOoyLEODZCGc2G4bqrKdq0JucMcSDkCfBSOtsPWWFnbttiV-720mZ_gi\/embed?start=false&#038;loop=true&#038;delayms=3000\" frameborder=\"0\" width=\"640\" height=\"389\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n<\/div>\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\/05\/fit_SG_-Feb24.pdf\" target=\"_blank\" rel=\"noopener\">Download Feb 2024 fit Report (Singapore) PDF<\/a>\n<\/div>\n\n\n\n<p><strong>Hiring Trends &#8211; Industry<\/strong>&nbsp;<\/p>\n\n\n\n<p><em>Only 1 out of 15 industry sectors monitored by the tracker demonstrated an annual growth in hiring<\/em>&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>In Demand:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Import\/Export sector recorded a positive annual growth of 1% in hiring, amidst overall muted hiring activity in the last month.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Challenges Faced:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The BFSI sector witnessed the steepest annual dip of 36%, followed closely by IT, Telecom\/ISP, and BPO\/ITES sectors, marking a substantial decline in hiring activity attributed to global headwinds impacting the sector on a global scale.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Advertising, Market Research, Public Relations, Media, and Entertainment sector experienced a significant annual decrease of 32% in hiring demand for February &#8217;24.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Notable Decline<\/strong>&nbsp;<\/p>\n\n\n\n<p>Several sectors experienced declines in hiring activity in February 2024, including Shipping\/Marine, Oil &amp; Gas, Healthcare, Retail\/Trade and Logistics, Hospitality, Engineering, Construction, and Real Estate, Consumer Goods\/FMCG, Education, and Production\/Manufacturing, underscoring the widespread challenges affecting various industries amidst the current economic landscape.&nbsp;<\/p>\n\n\n\n<p><strong>Hiring Trends &#8211; Functional Area<\/strong>&nbsp;<\/p>\n\n\n\n<p><em>Just one out of the 13 functions monitored by the tracker saw positive annual growth in February &#8217;24<\/em>&nbsp;<\/p>\n\n\n\n<p><strong>In Demand:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Legal professionals saw a significant annual surge of 6%, showcasing resilience and adaptation to the evolving legal landscape in the region.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<br><strong>Challenges Faced:<\/strong>&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Software, Hardware, Telecom roles observed the most significant annual decline of 50% in e-recruitment, indicating the lowest demand among all monitored functions.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Finance &amp; Accounts, Real Estate, Customer Service, Sales &amp; Business Development, Purchase\/Logistics\/Supply Chain, Engineering\/Production, Marketing &amp; Communications, Hospitality &amp; Travel, Healthcare, and HR &amp; Admin saw notable annual dips in hiring demand in February &#8217;24, reflecting the challenges facing various functions on a year-on-year basis.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>About the foundit Insights Tracker&nbsp;<\/strong>&nbsp;<\/p>\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;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore&#8217;s foundit Insights Tracker has reported a significant 22% drop annually in hiring demand as of February 2024.&nbsp; There has been a 4% reduction in hiring activity compared to the previous month, as January 2024, further reflecting this downturn.&nbsp; Over the past six months, the tracker has revealed a significant 7% decline in hiring demand, [&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-36401","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\/36401","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=36401"}],"version-history":[{"count":7,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/36401\/revisions"}],"predecessor-version":[{"id":38365,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/36401\/revisions\/38365"}],"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=36401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/categories?post=36401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/tags?post=36401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}