Online recruitment in Singapore registered a 2% increase in hiring activity in July 2022 when compared to July 2021, according to the Monster Employment Index.

The Monster Employment Index moved to 139 in July 2022 from 136 in July 2021.

Over the month, the Monster Employment Index reported a decrease of 7% in July.

According to the Index, hiring activity has seen a dip of 3% in the last six months.

By industry, 4 of the 14 industry sectors monitored by the Index registered an increase in online recruitment activity between July 2021 and July 2022.

Education (+13%) exhibited the strongest annual growth among sectors with the brewing demand in Education tech, which is within the education sector, for yet another month. Also, advertising, market research, public relations, media and entertainment (+4%) along with hospitality (+2%) industry witnessed the successive demand for talent.

The year-on-year growth rate has declined dramatically for Consumer Goods /FMCG (fast-moving consumer goods) (-18%) along with Import/ Export (-18%) which noticed the worst demand among the monitored industries.

IT, Telecom/ISP and BPO/ITES (business process outsourcing/IT-enabled services) (-17%) closely followed with the decline as the start-up ecosystem is currently going through a stage of recalibration. Monster says it is optimistic that this dip is temporary and will soon fade away.

Meanwhile, online demand for professionals remained positive for 8 of the 12 functions monitored by the Index.

Online demand for Finance and Accounts (+20%) professionals registered the highest growth year-on-year among all occupation groups yet again in July 2022. Real Estate (-7%), Healthcare (-4%) and Customer Service (-3%) professionals reported declines.

The Monster Employment Index is a broad and comprehensive monthly and quarterly analysis of online job posting activity conducted by Monster.