Key points:

  • Singapore job postings fell for the fifth consecutive month and have declined by 18% over the past year. 
  • Despite recent falls, job postings are still 40% above pre-pandemic levels, more than sufficient to keep Singapore’s unemployment rate low.  
  • Over the past year, job creation has shifted towards management, education & instruction and project management, with all three accounting for a larger share of job postings. That’s come at the expense of software development, retail and marketing.

In May, Singapore job postings fell 0.9% — the fifth consecutive monthly decline — and remained at their lowest level since May 2021. Job postings were 18% lower than a year ago and around 42% below their peak. 

Despite trending downwards for almost three years, Singapore job postings are still 40% above pre-pandemic levels. Singapore’s job market remains healthy, with job creation more than strong enough to keep the nation’s unemployment rate low. 

Line and bar graph titled “Change in Singapore job postings on Indeed.” With a vertical axis ranging from -30 to 60%, Singapore job postings have fallen for the fifth consecutive month and are down 18% compared to a year ago.
Line and bar graph titled “Change in Singapore job postings on Indeed.” With a vertical axis ranging from -30 to 60%, Singapore job postings have fallen for the fifth consecutive month and are down 18% compared to a year ago.

Job postings in nearly every sector remain above pre-pandemic levels, with postings in 10% of sectors more than double their February 2020 baseline. Demand is strongest in sports, at triple pre-pandemic levels, while education, veterinary, dental and pharmacy postings are all more than double pre-pandemic levels. 

Although some of the most severe skill shortages have eased recently — highlighted by the declining share of sectors with postings more than double pre-pandemic levels — employer demand remains elevated across most sectors. Recruitment isn’t necessarily easy, but it’s certainly easier than it was a year ago.

Line graph titled “Singapore job postings.” With a vertical axis ranging from 0 to 100%, 96% of sectors have job posting volumes above pre-pandemic levels, with 10% of sectors having volumes more than double pre-pandemic levels. 
Line graph titled “Singapore job postings.” With a vertical axis ranging from 0 to 100%, 96% of sectors have job posting volumes above pre-pandemic levels, with 10% of sectors having volumes more than double pre-pandemic levels. 

Recent posting growth mixed across occupations

Fewer than one-in-five occupational categories saw job postings growth over the past three months, with gains concentrated in engineering and tech roles. Civil engineering led the way, up almost 19% over the past three months, ahead of mechanical engineering (+14%) and industrial engineering (+6.5%). Tech hiring also improved, with data analytics up 5.6% and software development up 0.9%. There were also more opportunities in childcare (+13%) and sports (+12%).

Sharp declines in healthcare more than offset those gains. Pharmacy postings dropped 45%, while veterinary (-19%), physicians & surgeons (-19%), medical technician (-18%) and medical information (-18%) all fell.

Table titled “Change in Singapore job postings.” Indeed’s data shows that Singapore job postings for civil engineering, mechanical engineering and childcare rose the most over the past three months, but that was more than offset by fewer postings in pharmacy, security & public safety and beauty & wellness.  
Table titled “Change in Singapore job postings.” Indeed’s data shows that Singapore job postings for civil engineering, mechanical engineering and childcare rose the most over the past three months, but that was more than offset by fewer postings in pharmacy, security & public safety and beauty & wellness.  

Singapore’s job creation changed noticeably over the past year

Singapore’s job mix changes yearly, and the past year was no exception. Management, education, project management and production & manufacturing are all more prominent than they used to be, accounting for a larger share of job postings in May than they did a year earlier. Management roles account for 13.5% of Singapore job postings, up from 12.2% a year ago, an increase of 1.3 percentage points. Meanwhile, education roles now make up 4.7% of postings, up from 4.3%.  

Of course, if some occupations have become more prominent, then other occupations must have become less significant. Software development saw the largest decline, down 1.2 percentage points, ahead of retail (-0.8 percentage points), marketing (-0.6 percentage points) and scientific research (-0.6 percentage points). 

To be clear, that doesn’t necessarily signal trouble for these sectors. In fact, software development still accounts for 11.7% of Singapore job postings, ranking second among all sectors. But it does mean that hiring in that area hasn’t kept pace with the national trend over the past year.

Bar graph titled “Singapore’s changing job mix.” With a horizontal axis ranging from -2 to 2 percentage points, Indeed’s data shows that management, education & instruction and project management account for a larger share of job postings than a year ago, while software development, retail and marketing all account for a reduced share. 
Bar graph titled “Singapore’s changing job mix.” With a horizontal axis ranging from -2 to 2 percentage points, Indeed’s data shows that management, education & instruction and project management account for a larger share of job postings than a year ago, while software development, retail and marketing all account for a reduced share. 

Conclusion

While Singapore’s job creation has cooled, the overall labour market remains tight. The unemployment rate is low at 2.1% and skill shortages persist in many sectors. 

Geopolitical and economic uncertainty may impact Singapore’s growth prospects this year, which could weigh on job creation. And due to an uncertain global outlook, it’s currently difficult for many businesses to plan ahead, which may impact job creation and investment. 

So far, that uncertainty hasn’t shown up in Indeed’s data. While job postings are declining, the pace of decline hasn’t accelerated, suggesting employers have yet to respond decisively to weaker global conditions.