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Singapore – Job postings jump 55% in August compared to pre-pandemic levels: Indeed

Singapore – Job postings jump 55% in August compared to pre-pandemic levels: Indeed

September 22, 2021

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Hiring activity in Singapore rose throughout August this year, reaching a new high, as the impact of economic restrictions diminishes. Research from Indeed found job postings in Singapore were up by 55.7% from their pre-pandemic level on 1 February 2020.

Job postings exceeded pre-pandemic levels in mid-October 2020, having gradually recovered since May 2020. Upward momentum has continued this year despite restrictions and heightened alerts that caused the economy to contract. By the end of August 2021, job postings in every broad occupation category were above pre-pandemic levels. 

Job creation in production, transportation and installation & maintenance was up 125%, 109% and 89% in August, respectively, when compared to February 2020.

By comparison, hiring in social science, law, community and customer service have experienced the slowest recovery. Food & beverage roles and education have also lagged behind the national recovery. 

Callam Pickering, Indeed’s APAC Economist said, “Robust hiring activity is typically a great sign for future employment growth. It reflects business optimism and confidence about their future prospects and Singapore’s broader economic recovery. An economy that is creating a lot of new job opportunities will typically be a country where the unemployment rate is falling.”

According to Indeed, the uneven hiring recovery, and overall impact of Covid-19, has shifted the composition of Singapore job postings. The economy is creating relatively more jobs in areas such as scientific research and software development than they were pre-pandemic. 

“By comparison, the economy is creating relatively fewer opportunities in sales and administrative assistance occupations,” Indeed states. “This does not mean that Singapore isn’t creating a lot of jobs in these areas, sales remains one of the largest occupations for job postings, rather Singapore is simply creating fewer of these jobs than you would expect based on past hiring trends.”

Pickering added, “Competition for talent is increasing monthly and shows no sign of easing.  Market dynamics for many occupations have shifted towards the jobseeker, potentially leading to greater choice for job seekers and higher salaries. As the economic recovery continues, we expect skill-shortages to either develop or become exacerbated across a broader range of occupations that may create a more challenging hiring environment for businesses and recruiters.”