Singapore hiring activity declines 5% YoY despite monthly growth

SINGAPORE: Singapore’s hiring landscape remains subdued, with overall recruitment activity declining by 5% year-on-year (YoY), even as the job market recorded a modest 3% month-on-month (MoM) increase, according to a report from jobs platform foundit.

The Advertising, Public Relations & Media sector, alongside the Education sector, emerged as key drivers of recovery, both achieving a 7% MoM increase in hiring. The growth in advertising has been largely attributed to the increased adoption of digital marketing strategies and intensified brand-building initiatives.

Similarly, the boost in the education sector reflects a heightened focus on upskilling programs and professional development opportunities, as companies and individuals alike prioritize continuous learning in a competitive job market.

The Engineering, Construction & Real Estate sector also demonstrated resilience, with hiring activity rising by 6% MoM. The steady momentum is believed to stem from ongoing infrastructure projects and investments in urban development.

Further gains were seen in the Retail, Trade & Logistics and Manufacturing & Automotive sectors, both of which reported a 5% MoM increase. Analysts suggest that sustainability initiatives and evolving supply chain demands contributed to the positive growth in these industries.

In contrast, sectors such as Oil & Gas, Shipping, Government, and Fast-Moving Consumer Goods (FMCG) saw minimal hiring activity, with no significant month-on-month change. The slowdown in these areas reflects ongoing challenges related to market uncertainty and regulatory pressures.

Among job functions, technology roles in Software, Hardware, and Telecom were the standout performers, registering a 2% MoM increase. The demand for tech talent remains strong as companies continue to invest in digital transformation and cybersecurity measures.

Legal professionals also experienced notable growth, with legal roles seeing a 19% YoY surge. This sharp increase is linked to rising demand for regulatory compliance and corporate governance expertise as firms navigate an increasingly complex legal landscape.

Other job functions, including Marketing, Human Resources, Engineering, Sales, Medical, and Legal, saw 1% MoM growth. This consistent performance indicates broad-based hiring across various sectors.

Meanwhile, recruitment activity in Hospitality, Customer Service, Finance, and Logistics remained largely unchanged, reflecting cautious hiring in these areas.

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