{"id":39173,"date":"2024-06-27T14:13:33","date_gmt":"2024-06-27T08:43:33","guid":{"rendered":"https:\/\/www.foundit.sg\/career-advice\/?p=39173"},"modified":"2024-07-17T11:07:45","modified_gmt":"2024-07-17T05:37:45","slug":"foundit-insights-tracker-singapore-may-2024-2","status":"publish","type":"post","link":"https:\/\/www.foundit.sg\/career-advice\/foundit-insights-tracker-singapore-may-2024-2\/","title":{"rendered":"Singapore’s Hiring Landscape in May 2024: Key Takeaways from the foundit Insights Tracker\u00a0"},"content":{"rendered":"\n

Key Highlights of the Month <\/strong> 
Singapore’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. <\/p>\n\n\n\n

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. <\/p>\n\n\n\n\n\n

\nDownload May 2024 fit Report (India) PDF<\/a>\n<\/div>\n\n\n\n

Hiring Trends – Industry <\/strong> 
Only 1 out of 15 industry sectors monitored by the tracker showed growth from May 2023 to May 2024.<\/em> <\/p>\n\n\n\n

In Demand:<\/strong> <\/p>\n\n\n\n

    \n
  • Import\/Export (+3%) exhibited resilience despite widespread declines. <\/li>\n<\/ul>\n\n\n\n

    Facing Challenges:<\/strong> <\/p>\n\n\n\n

      \n
    • BFSI (-34%) experienced a significant annual drop. <\/li>\n<\/ul>\n\n\n\n
        \n
      • IT, Telecom\/ISP, and BPO\/ITES (-32%) also witnessed a significant decline. <\/li>\n<\/ul>\n\n\n\n
          \n
        • Advertising, Market Research, Public Relations, Media, and Entertainment (-31%) faced notable annual drops. <\/li>\n<\/ul>\n\n\n\n
            \n
          • Other sectors with annual dips include Shipping\/Marine (-4%), Oil & Gas (-8%), Engineering, Construction, and Real Estate (-9%), Healthcare (-9%), Education (-10%), Retail\/Trade and Logistics (-12%), Hospitality (-11%), Consumer Goods\/FMCG (-12%), and Production\/Manufacturing (-17%). <\/li>\n<\/ul>\n\n\n\n

            Hiring Trends – Functional Area <\/strong> <\/p>\n\n\n\n

            One out of the 13 functions monitored showed positive annual growth in May 2024.<\/em> <\/p>\n\n\n\n

            In Demand:<\/strong> <\/p>\n\n\n\n

              \n
            • Legal (+24%) professionals saw the most significant increase in hiring demand, driven by technological and regulatory changes. <\/li>\n<\/ul>\n\n\n\n

              Facing Challenges:<\/strong> <\/p>\n\n\n\n

                \n
              • Software, Hardware, Telecom (-48%) roles marked the lowest demand. <\/li>\n<\/ul>\n\n\n\n
                  \n
                • Finance & Accounts (-30%) and Hospitality & Travel (-25%) functions also showed declines. <\/li>\n<\/ul>\n\n\n\n

                  About the foundit Insights Tracker <\/strong> <\/p>\n\n\n\n

                  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. <\/p>\n","protected":false},"excerpt":{"rendered":"

                  Key Highlights of the Month  Singapore’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.  This trend reflects cautious hiring amidst evolving market conditions. In response, the Singapore Government is actively […]<\/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-39173","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\/39173","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=39173"}],"version-history":[{"count":2,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/39173\/revisions"}],"predecessor-version":[{"id":39373,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/posts\/39173\/revisions\/39373"}],"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=39173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/categories?post=39173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.foundit.sg\/career-advice\/wp-json\/wp\/v2\/tags?post=39173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}