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Six percent growth in online recruitment activity between May 2013 and 2014 in Singapore: Monster Employment Index

Zafirah Salim | June 18, 2014
The BFSI industry charts the steepest year-on-year growth among all sectors.

The Monster Employment Index Singapore is a monthly gauge of online job posting activity based on a real-time review of millions of employer job opportunities collected from various career web sites and online job listings across the country.

Sanjay Modi, Managing Director, Monster.com (India / Middle-East / Hong Kong / South East Asia) said that the index is based on data collected throughout the past calendar year, which showed subdued hiring in 2013.

Other key findings in May 2014 are as follows:

  • Banking, financial services and insurance (BFSI) charts the steepest year-on-year growth among all sectors, while recruitment activity eases the most in the import/export sector
  • Among occupation groups, finance and accounting followed by software, hardware, telecom personnel register the most notable growth in demand year-on year

"To date, online job postings through 2014 appear to be more positive. May 2014 marked the third successive rise in the number of postings, driven primarily by growth in the service sector. For example, BFSI, IT, Telecom / ISP, information technology, hospitality, retail / trade and logistics, media and entertainment sectors all showed gains," he said.

According to the Monetary Authority of Singapore, the services sector is expected to expand in 2014. As per MEI Production / Manufacturing, Automotive and Ancillary have also been charting positive demand growth following low levels until early 2014. The finding is supported by the official data of Ministry of Trade and Industry, which reveals that Singapore's economy grew by 4.9 percent year-on-year in Q1 of this year, supported by a rebound in the manufacturing sector.

 

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