SINGAPORE: Singapore’s job market faced a decline in overall job postings during August, with a 2.5% drop compared to July. This downturn marks a significant shift, as job postings are now 11.8% lower than they were a year ago, according to the latest report from Indeed.
However, amidst this overall decline, a notable surge was observed in certain occupational categories, indicating a complex landscape in the employment sector.
Leading the charge was the marketing sector, which experienced a remarkable 38% increase in job postings over the past three months. This growth highlights the ongoing demand for marketing professionals as companies adapt to shifting consumer behaviors and competitive market conditions.
Following closely behind, veterinary positions saw a 28% rise, reflecting a growing need for animal care specialists, while sports-related roles also showed promising growth with a 15% increase.
Additionally, the human resources sector noted an 11% uptick in job postings, suggesting that organizations are still focused on strengthening their teams and managing talent effectively, despite the overall hiring slowdown.
Conversely, several occupational categories faced significant declines.
Job postings in childcare experienced a staggering 53% drop, raising concerns about the availability of services in this vital sector. The cleaning and sanitation sector also saw a sharp decline of 33%, while social science roles dropped by 30%. Security and public safety positions were not immune, recording a 27% decrease. These reductions align with recent trends in the job market, indicating ongoing challenges in these specific areas.
Despite the fluctuations, it is worth noting that job postings in Singapore remain 56% higher than pre-pandemic levels. The majority of sectors continue to exhibit a robust presence above baseline levels, suggesting resilience in the overall job market. However, the competition for talent remains fierce, particularly in key roles, as companies strive to attract skilled professionals to navigate the evolving economic landscape.
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