The number of job vacancies in Singapore rose to a record high in June 2021, according to data from the Ministry of Manpower.

The number of job vacancies was higher than the number of unemployed persons for the first time since March 2019.

The labour market improved in the first half of 2021 as resident employment grew and unemployment continued to ease.  However, the labour market recovery has been uneven across sectors, with domestically-oriented and tourism- & aviation-related sectors continuing to be impacted by Covid-19, while growth sectors such as Financial & Insurance Services, Professional Services and Information & Communications saw sustained demand for manpower.  

As a result of this demand and manpower shortages from border restrictions, vacancies rose to a record high of 92,100 in June 2021. In June 2021, there were 163 job openings for every 100 unemployed persons.

Seasonally adjusted unemployment rates continued their downtrend in June 2021 (Overall: 2.7%; Resident: 3.5%; Citizen: 3.7%). More recent data showed the overall unemployment rate rose slightly to 2.8% in July.

In 1H 2021, there were 4,620 layoffs, or 2.3 layoffs among every 1,000 employees.  These were comparable to the half-yearly levels seen in 2018/2019.  Quarterly, the number of layoffs rose slightly from Q1 2021 (2,270) to Q2 2021 (2,340) amid the Phase 2 (Heightened Alert) measures.

The Ministry noted that more employees, particularly those in food & beverage services, were placed on short work-week or temporary layoff in Q2 2021 (5,580 from 4,020 in Q1 2021).  While the number remained elevated compared to pre-pandemic times, the prevalence of such temporary work arrangements helped to keep layoffs relatively low in 1H 2021.

Meanwhile, the on-going border restrictions have affected the availability of manpower in construction and manufacturing.  There was also sustained demand in growth sectors like financial & insurance services, professional services and information & communications. 

“Domestic and border restrictions are expected to be eased progressively as our vaccination rate continues to rise,” the Ministry stated. “This should raise employment levels and progressively reduce unemployment rates.  However, we should expect the labour market recovery to be uneven across sectors as uncertainties in the external economic environment remain.”