Job openings fall amid tight labour market, but talent shortages persist in key sectors

SINGAPORE: Job openings in Singapore have dropped nearly 17%, continuing a year-on-year decline, according to data from recruitment site Indeed. Despite the overall cooling in hiring activity, some sectors continue to struggle with a shortage of skilled workers.

Indeed‘s latest numbers show that job postings dipped by almost 3% in April compared to March. This marks the fourth straight month of decline and drags vacancy levels to their lowest point since May 2021.

Certain industries have seen steep cutbacks. Cleaning and sanitation roles saw a 56% drop in job ads over the past three months, marking the biggest fall among all sectors. Childcare and pharmacy roles have also taken a hit, with job postings falling by close to 40%.

Despite the broader pullback, Singapore’s labour market remains tight. The unemployment rate in the first quarter stood at a low 2.1%, signalling that many employers are still looking for workers, even if the pace of hiring has slowed.

Economists say that labour market trends often lag behind changes in the global economy, and it could take more time before international uncertainty is fully reflected in local employment figures.

Some industries, however, are moving in the opposite direction. As Singapore’s population continues to age, demand for personal care aides and home health workers has surged—job openings in this space are up nearly 30%.

There’s also a small but noticeable uptick in tech hiring. Job ads for data analysts climbed by 9.5% last month, hinting at a possible rebound in the tech sector after a tough 2023.