Malaysia’s online hiring decline likely to slow in 2017: Page 2 of 3

Singapore’s online hiring sentiment to remain restrained

Hiring sentiment in Singapore remained cautious throughout 2016, and this hesitation to increase headcount is likely to continue well into 2017.

2016 ended on a rather flat recruitment note, indicating a trend that will extend into the first half of 2017.  

2016 was a mixed bag for job seekers in Singapore. After kicking off with a negative growth of -2% year-on-year in January 2016, Q1 rounded out with a registered growth of 3% year-on-year in March. However, this slight peak was short lived, as subsequent months saw a dip, once again in April (-3% y-o-y) and May (-5% y-o-y). June registered a 2% annual increase, but growth eventually stalled in Singapore with the MEI registering zero growth for two consecutive months.

This sentiment further plummeted to -2% in November, before closing the year on a positive, where the MEI recorded a 1% growth annually.

“Singapore’s economy remains cloudy, given the host of global socio-economic issues. The job market too will remain challenging, with employment growth likely to stay sluggish amid a weak economic outlook. While the MEI showed slight progress in December with a recorded 1% growth, most companies will tread with caution as the year progresses,” said Modi.

“The city-state’s small trade-dependent economy has been going through a cyclical downturn and may not pick up too well in the coming months. Growth across the region has been slow and there still persists a sense of uncertainty concerning US policies and China’s economy slowing further. We’ve seen some positive signs since the jump in industrial production in November, which has helped reinforce growth in the final quarter of 2016,” he added.

Modi said Singapore’s workforce is diverse, technology savvy and young, but the challenge remains for the government to focus on technology and talent to create more lucrative opportunities.

Singapore’s IT sector emerges strongly

The IT sector has performed consistently well in 2016, when compared to other sectors in Singapore. The MEI recorded growth in online hiring since January 2016 (2%) and recorded the sharpest jump in July and August (14%). IT continues to lead in online hiring activity among all industry sectors since June 2016 till December (14%). This was also the steepest annual growth since September 2016. There has been a 2% growth in the last six-months (between June and December 2016).

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