Online recruitment in Singapore recorded a 6% decline in November 2024 compared to November 2023, according to the latest foundit Insights Tracker.

The index fell from 113 in November 2023 to 106 in November 2024. When compared to the prior month, hiring activity in Singapore fell slightly from 107.

The tracker also showed a 5% decline in hiring activity over the past six months. Foundit said this possibly reflected factors such as budget constraints, evolving priorities and adjustments in workforce strategies. The report adds that opportunities persist in innovative and digitally-driven roles, highlighting the importance of targeted upskilling to meet demands.

By sector and on a month-on-month basis, the education sector recorded a 1% increase in hiring in November, led by opportunities in online education platforms, professional development programmes and sustainability-related training.

Meanwhile, other sectors that reported a 1% gain over the month include the import/export sector, advertising, market research, public relations, media, the entertainment sector and the healthcare sector.

On the other hand, the IT, telecom/ISP (internet service provider), and BPO sectors experienced a 2% drop, while retail/trade and logistics experienced a 3% dip in November. The BFSI (banking, financial services, insurance) sector reported a 4% downturn.

Foundit also reported that half of the 12 tracked functional roles reported muted hiring activity in November 2024 when compared to October 2024. The software, hardware and telecom sectors and the finance and accounts sector reported a decline of 4% and 3%, respectively.

Notably, legal and compliance roles saw a 37% year-on-year increase in November, the tracker noted. At the same time, there was an approximately 5% increase in job roles in renewable energy, sustainability, and environmental engineering due to Singapore’s Green Plan 2030 initiative.