Singapore is facing challenges in its job market with a 14% year-on-year decline in hiring demand in August 2023, according to the foundit Insights Tracker. When compared to the previous month, online hiring was down 1%.

The hospitality sector in Singapore reported an 8% increase in August over the year. The retail sector reported a 2% decline for August 2023. However, an optimistic outlook prevails for the upcoming quarter in Singapore's retail industry, the Tracker noted.

The logistics sector reported a 4% decline.

Among roles, marketing & communications roles saw an 18% contraction, possibly reflecting adjustments in marketing strategies amidst evolving market dynamics. Purchase/logistics/supply chain professionals saw a 9% decline.

Regarding hospitality and travel roles, Singapore saw an 8% increase.

Sekhar Garisa, CEO of foundit, said, “Skill enhancement is crucial to navigating the ever-changing job market in this digital age successfully, and it is imperative that we remain flexible and well-prepared to embrace these changes.”

Garisa added that Singapore has a moderated economic outlook, “which provides a valuable opportunity for job seekers to enhance their skills and plan for the future proactively.”

The foundit Insights Tracker (fit) offers a detailed perspective on hiring patterns in Singapore, focusing on the demand for specific skills, available positions, and salary ranges in the market.