Key Highlights:
- Overall hiring activity in Singapore shows 7% month-on-month increase despite 5% annual dip
- Education sector leads industry growth with 4% month-on-month increase in September ’24
- Marketing & Communications roles witness highest demand with 44% annual growth and 30% month-on-month increase
- Purchase/Logistics/Supply Chain roles experience 29% month-on-month increase
- BFSI sector faces challenges with 2% month-on-month decrease in hiring activity
foundit (formerly Monster APAC & ME), one of Asia’s leading jobs and talent platforms, today published the foundit Insights Tracker (fit) Singapore for September 2024. The Singapore fit report highlights growth in the Education sector and a surge in demand for Marketing & Communications professionals.
The tracker reveals an overall year-on-year (YoY) decline of 5% in hiring activity across sectors, as the index dropped from 116 in September 2023 to 110 in September 2024. However, a month-on-month (MoM) analysis indicates a notable 7% surge, with an index of 103 recorded in August 2024.
Commenting on Singapore’s job trends for September 2024, Sekhar Garisa, CEO, foundit, said, “The September 2024 foundit Insights Tracker reveals significant shifts in Singapore’s job market. Despite a yearly decline, the recent month-on-month growth is a promising sign of recovery. As businesses adapt to changing market conditions, hiring priorities are evolving. Marketing roles are becoming increasingly important as companies focus on data-driven strategies and personalised customer experiences to boost brand engagement and drive growth.”
Education sector leads industry growth, while Retail/Trade and Logistics and Import/Export sectors show improvements
The Education sector has emerged as the frontrunner in e-recruitment activity among all monitored industries, showing a 4% MoM growth in September 2024. This growth is fueled by investments from both the government and private sector.
Following the Education sector, the Retail/Trade and Logistics sector and the Import/Export sector both showed positive trends with a 3% MoM growth each in September 2024.
Several sectors face challenges with declining or stagnant hiring trends
While some sectors showed growth, others faced challenges in the job market. The BFSI sector experienced a sequential decline in demand, registering a 2% MoM drop and ranking lowest in hiring activity.
The Advertising, Market Research, Public Relations, Media, and Entertainment sector saw a marginal decrease of 1% MoM, following a period of higher recruitment activity last month.
Several sectors remained stagnant in their hiring activities. The Shipping/Marine, Consumer Goods/FMCG, Engineering, Construction, Real Estate, and Oil and Gas sectors showed no change (0% MoM growth) in their hiring patterns.
Marketing & Communications leads growth in functional roles
In terms of functional roles, Marketing & Communications professionals witnessed the highest demand in September 2024, with a remarkable 44% YoY growth and a 30% MoM increase. This trend is attributed to the changing marketing dynamics and a strong focus on omnichannel strategies, significantly boosting demand for roles in content management.
Purchase/Logistics/Supply Chain roles also showed strong growth, recording a 29% MoM increase. Finance & Accounts roles saw an 11% MoM increase, while Legal roles continued their positive trend with a 9% MoM growth.
However, Sales & Business Development roles saw a significant decline of 13% on a month-on-month basis. This shift is observed in most sectors as businesses are increasingly investing in digital marketing, reducing the need for traditional sales roles.
Software, Hardware, and Telecom roles, along with Healthcare roles, have also seen significant decreases in hiring demand, both on a monthly and annual basis, positioning these functions at the bottom of the hiring index.
The foundit Insights Tracker is a comprehensive monthly analysis of online job posting activity conducted by foundit. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, the foundit Insights Tracker (FIT) presents a snapshot of employer online recruitment activity nationwide.
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About foundit – APAC & Middle East
foundit, formerly Monster (APAC & ME) is Asia’s leading jobs & talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. In addition to a powerful AI-powered job search, foundit offers e-learning, assessments, and services related to resume creation, interview preparation, and professional networking. Since its inception, the company has assisted over 120 million job seekers across 18 countries in connecting them with the right job opportunities and upskilling. foundit is now also the Official Talent Partner of the Badminton World Federation across 20 key world tour events.
Over the last two decades, the company has been a leader in the world of recruitment solutions and has launched a cutting-edge solution to give recruiters access to passive candidates in addition to active ones. With the use of advanced technology, foundit is seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalised job searches and offer precision hiring. Additionally, foundit has been recognised as a Great Place To Work, reflecting its dedication to fostering a supportive and dynamic work culture.
To learn more, about foundit in APAC & Gulf,
Visit: https://www.foundit.sg | www.foundit.com.ph |www.foundit.my | https://www.foundit.in| https://www.founditgulf.com |www.foundit.com.hk | https://www.foundit.id
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