[SINGAPORE] Job vacancies in Singapore have dropped by nearly 17% year-on-year, reflecting a sustained decline in hiring activity, according to new data from recruitment platform Indeed. While overall demand for workers is cooling, certain industries continue to face persistent shortages of skilled talent.
Indeed’s latest figures indicate that job postings fell by close to 3% in April compared to the previous month. This marks the fourth consecutive month of decline, pushing vacancy levels to their lowest since May 2021.
The slowdown is largely attributed to a sluggish global economy, which has prompted many companies to take a more cautious approach to recruitment. Concerns over trade tensions, inflation, and waning consumer confidence are prompting businesses—particularly in economically sensitive sectors—to scale back hiring plans.
Some industries have experienced sharp cutbacks. Job advertisements for cleaning and sanitation positions plummeted by 56% over the past three months, the steepest decline across all sectors. Similarly, job postings in childcare and pharmacy roles have fallen by nearly 40%.
Conversely, sectors that are less exposed to economic volatility continue to show resilience. The healthcare industry, supported by Singapore’s aging population, remains a key area of demand. Roles for specialized professionals such as nurses and medical technicians are still in high demand, even though not all positions in the sector are insulated from the broader hiring slowdown.
Despite the overall dip in job postings, Singapore’s labour market remains tight. The unemployment rate stood at a relatively low 2.1% in the first quarter, indicating that many employers are still actively seeking workers, albeit more selectively.
This tightness in the labour market is underpinned by Singapore’s strong education framework and workforce development strategies. Government initiatives aimed at re-skilling and up-skilling have helped maintain low unemployment, even amid global economic headwinds.
Economists caution that labour market indicators often lag behind broader economic trends. As such, it may take additional time before the full impact of global uncertainty is reflected in local employment data.
Still, some sectors are bucking the trend. With the nation’s population aging rapidly, demand for personal care aides and home health workers has surged, with job openings in these areas rising by nearly 30%.
This growth underscores Singapore’s demographic transformation. As more elderly citizens require in-home care and assisted living services, demand in the healthcare and social services sectors is expected to remain strong.
The tech sector is also showing early signs of recovery. Job postings for data analysts rose by 9.5% last month, pointing to a possible rebound after a challenging 2023.
Singapore’s broader push for digital transformation is fueling this resurgence. With continued government support for technological adoption across industries, demand for digitally skilled professionals is projected to grow further as companies modernize operations and strive for greater efficiency.
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