SINGAPORE: A job seeker took to an online forum on Friday (Feb 28) to share his concern over the job market cycle in Singapore, noting that January and February are particularly slow months.
“At what point in the year does the SG job market typically ‘pick up’? And when in the year is it at its best?” the post read. “Obviously, things won’t be exactly the same year on year, but I have heard that the job market, on a yearly basis, has a typical cycle where December and January will be quiet and things tend to pick up after CNY once most people collect their bonuses. However, these days, there’s also a ‘clawback’ where you must stay a few months after receiving your bonus. Therefore, things may not pick up immediately after CNY.”
The job seeker shared his experience, noting that January and February have been particularly slow in his job search. While he claimed to have enough savings to remain patient, he was curious about when hiring activity typically picks up and which times of the year are best for job hunting. He expressed his interest in using this information to plan strategic breaks during slower periods to recharge while intensifying his efforts when the job market is at its peak. He welcomed others to share their experiences and insights on the matter.
One online user responded to the post, encouraging the job seeker to just keep applying. “Yes, you are right about the period either after the AWS (Annual Wage Supplement), or CNY bonus. The other period is VB (Variable bonus) in April or July, depending on the company’s year-end. You also have to factor in the notice period, which can be one to three months. The peak will still be January to April.”
In a recent article, TISG reported on how the Singaporean job market saw an 11% decline in hiring over the past year, driven by digitalisation, automation, and shifting industry demands, according to a report by employment platform Foundit. The retail sector experienced a 9% drop, largely due to the rise of e-commerce. Hospitality saw a steeper 15% decline, and the data suggested that this could be attributed to limited promotions, stricter visa policies, and automation replacing traditional roles.
The most notable shift was a 45% decrease in tech-related jobs, reflecting cost-cutting measures and a growing reliance on AI and cloud solutions. Marketing and communications hiring fell by 9% as businesses moved away from traditional marketing, and HR and administration saw a 12% drop due to outsourcing and automation.
See also: Singapore’s job market sees 11% decline as digitalisation and automation reshape hiring
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