Singapore job market sees more openings, but stiffer competition for roles

According to the latest figures from LinkedIn, job postings in Singapore have increased by around 3% since September last year. But the number of jobseekers in the region has jumped 11% over the same period.

“This means jobseekers will feel that the market is tougher to land jobs,” said Chua Pei Ying, LinkedIn’s Asia-Pacific head economist. “In this landscape, skills and jobs are changing very fast.” 

The technology sector continues to show resilience, as LinkedIn data reveals that tech-related job postings have climbed for 18 consecutive months, fuelled by companies’ appetite for AI-driven tools and digital solutions. However, this growth also highlights a broader shift, as Artificial Intelligence reshapes work, employers are seeking new skill sets that many jobseekers are still acquiring.

Job-matching platform Indeed also reported bright spots in hospitality and tourism, where job opportunities have surged by 64.3% since June. Overall, the platform recorded a modest 1% rise in job postings last month after two months of decline. 

“There’s certainly a sense that the job market is cooling a little bit,” said Callam Pickering, Senior Economist for Indeed Asia-Pacific. “Many businesses are concerned about the global economic environment, which has become less predictable this year,” he added. 

Pickering also noted that Singapore’s job figures have been trending down over the past three years, largely due to the natural slowdown following the post-pandemic hiring boom. “While jobs are still being created, the pace of growth has eased,” he added.

Recently, preliminary data from the Ministry of Manpower (MOM) showed that total employment grew by 24,800 between July and September, which is more than double the previous quarter’s growth. 

Additionally, the newly launched Jobs Nearby @ CDC initiative adds a vital community dimension to Singapore’s employment landscape, one that complements national programmes like SkillsFuture and Workforce Singapore. 

The initiative is spearheaded by the five Community Development Councils (CDCs), aiming to bridge local hiring gaps by connecting residents to job opportunities within their own neighbourhoods. Through dedicated district-level job banks, flexible work options, and on-ground job ambassadors, the initiative recognises that employment is not just about finding a job, but finding one that aligns with individuals’ family, lifestyle, and mobility needs. 

The initiative reflects Singapore’s whole-of-society approach to sustaining employment and supporting livelihoods amid shifting global and technological forces. 

Prime Minister Lawrence Wong underscored the importance of local collaboration in cushioning workers against economic uncertainty and transformation led by AI and digitalisation. While national and global factors will always shape Singapore’s job market, he noted, community-led solutions like Jobs Nearby @ CDC ensure that no one is left behind. 

“Whatever the state of the global economy,” Prime Minister Wong affirmed, “we will ensure that jobseekers and workers in Singapore will always be supported and cared for.”