{"id":39156,"date":"2024-06-27T11:10:33","date_gmt":"2024-06-27T05:40:33","guid":{"rendered":"https:\/\/www.foundit.sg\/career-advice\/?p=39156"},"modified":"2024-06-27T11:12:22","modified_gmt":"2024-06-27T05:42:22","slug":"foundit-insights-tracker-singapore-may-2024","status":"publish","type":"post","link":"https:\/\/www.foundit.sg\/career-advice\/foundit-insights-tracker-singapore-may-2024\/","title":{"rendered":"Singapore&#8217;s Hiring Landscape in May 2024: Key Takeaways from the foundit Insights Tracker\u00a0"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><strong>Key Highlights of the Month <\/strong>&nbsp;<br>Singapore&rsquo;s foundit Insights Tracker registered a 12% annual dip in hiring activity in May 2024. The FIT index fell to 109 from 124 in May 2023, with a 2% month-over-month decline from April 2024.&nbsp;<p class=\"wp-block-paragraph\">This trend reflects cautious hiring amidst evolving market conditions. In response, the Singapore Government is actively supporting business transformation and offering new upskilling programs to bolster the workforce.&nbsp;<\/p><div style=\"text-align: center;\">\n <iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vSbNfiBDWWq8v8VKqYELWD_TTHy5bQBhPWKoY9JfwZd0HSyE8jGR2zaX7TixQYBcws8GG_otkbGhGrU\/embed?start=true&amp;loop=true&amp;delayms=3000\" frameborder=\"0\" width=\"640\" height=\"389\" allowfullscreen=\"true\" mozallowfullscreen=\"true\" webkitallowfullscreen=\"true\"><\/iframe>\n<\/div><div style=\"text-align: center;\">\n<a font-size: 18px;border-radius: 4px;font-weight: bold;\" href=\"https:\/\/media.foundit.in\/career-advice\/wp-content\/uploads\/2024\/06\/fit_SG_-May24.pdf\" target=\"_blank\" rel=\"noopener\">Download May 2024 fit Report (Singapore) PDF<\/a>\n<\/div><p class=\"wp-block-paragraph\"><strong>Hiring Trends &ndash; Industry <\/strong>&nbsp;<br><em>Only 1 out of 15 industry sectors monitored by the tracker showed growth from May 2023 to May 2024.<\/em>&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>In Demand:<\/strong>&nbsp;<\/p><ul class=\"wp-block-list\">\n<li>Import\/Export (+3%) exhibited resilience despite widespread declines.&nbsp;<\/li>\n<\/ul><p class=\"wp-block-paragraph\"><strong>Facing Challenges:<\/strong>&nbsp;<\/p><ul class=\"wp-block-list\">\n<li>BFSI (-34%) experienced a significant annual drop.&nbsp;<\/li>\n\n\n\n<li>IT, <a href=\"https:\/\/www.foundit.sg\/search\/telecom-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Telecom<\/strong><\/a>\/ISP, and <a href=\"https:\/\/www.foundit.sg\/search\/bpo-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>BPO<\/strong><\/a>\/ITES (-32%) also witnessed a significant decline.&nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/www.foundit.sg\/search\/advertising-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Advertising<\/strong><\/a>, Market Research, Public Relations, Media, and <a href=\"https:\/\/www.foundit.sg\/search\/entertainment-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Entertainment<\/strong><\/a> (-31%) faced notable annual drops.&nbsp;<\/li>\n\n\n\n<li>Other sectors with annual dips include Shipping\/Marine (-4%), Oil &amp; Gas (-8%), <a href=\"https:\/\/www.foundit.sg\/search\/engineering-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Engineering<\/strong><\/a>, <a href=\"https:\/\/www.foundit.sg\/search\/construction-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Construction<\/strong><\/a>, and <a href=\"https:\/\/www.foundit.sg\/search\/real-estate-sales-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Real Estate<\/strong><\/a> (-9%), <a href=\"https:\/\/www.foundit.sg\/search\/healthcare-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Healthcare<\/strong><\/a> (-9%), Education (-10%), Retail\/Trade and <a href=\"https:\/\/www.foundit.sg\/search\/purchase-logistics-supply-chain-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Logistics<\/strong><\/a> (-12%), <a href=\"https:\/\/www.foundit.sg\/search\/hospitality-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Hospitality<\/strong><\/a> (-11%), Consumer Goods\/FMCG (-12%), and Production\/<a href=\"https:\/\/www.foundit.sg\/search\/manufacturing-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Manufacturing<\/strong><\/a> (-17%).&nbsp;<\/li>\n<\/ul><p class=\"wp-block-paragraph\"><strong>Hiring Trends &ndash; Functional Area <\/strong>&nbsp;<\/p><p class=\"wp-block-paragraph\"><em>One out of the 13 functions monitored showed positive annual growth in May 2024.<\/em>&nbsp;<\/p><p class=\"wp-block-paragraph\"><strong>In Demand:<\/strong>&nbsp;<\/p><ul class=\"wp-block-list\">\n<li>Legal (+24%) professionals saw the most significant increase in hiring demand, driven by technological and regulatory changes.&nbsp;<\/li>\n<\/ul><p class=\"wp-block-paragraph\"><strong>Facing Challenges:<\/strong>&nbsp;<\/p><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, Telecom (-48%) roles marked the lowest demand.&nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/www.foundit.sg\/search\/finance-jobs\" target=\"_blank\" rel=\"noopener\" title=\"\"><strong>Finance<\/strong><\/a> &amp; Accounts (-30%) and Hospitality &amp; Travel (-25%) functions also showed declines.&nbsp;<\/li>\n<\/ul><p class=\"wp-block-paragraph\"><strong>About the foundit Insights Tracker <\/strong>&nbsp;<\/p><p class=\"wp-block-paragraph\">The foundit Insights Tracker (FIT) Singapore, earlier known as the Monster Employment Index, is the leading guide to Singapore&rsquo;s e-recruitment landscape. By examining millions of job listings, FIT provides insights into the hiring trends in Singapore.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Highlights of the Month &nbsp;Singapore&rsquo;s foundit Insights Tracker registered a 12% annual dip in hiring activity in May 2024. The FIT index fell to 109 from 124 in May 2023, with a 2% month-over-month decline from April 2024.&nbsp;This trend reflects cautious hiring amidst evolving market conditions. In response, the Singapore Government is actively supporting &hellip; <a href=\"https:\/\/www.foundit.sg\/career-advice\/foundit-insights-tracker-singapore-may-2024\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Singapore&#8217;s Hiring Landscape in May 2024: Key Takeaways from the foundit Insights Tracker\u00a0<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/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":["post-39156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights-tracker"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/39156","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=39156"}],"version-history":[{"count":3,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/39156\/revisions"}],"predecessor-version":[{"id":39161,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/39156\/revisions\/39161"}],"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=39156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/categories?post=39156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/tags?post=39156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}