The foundit Insights tracker saw a 15% drop in annual hiring demand in December 2023.
The tracker also registered a marginal 2% decrease in hiring activity, and a 9% decline in hiring demand over the past six months.
Hiring Trends by Industry (YoY numbers)
Just 3 out of 15 industry sectors monitored by the tracker demonstrated a annual growth in hiring in December ‘23
In Demand:
Import/Export (+5%) and Hospitality (+5%) show resilience.
Facing Challenges:
Significant drops in IT, Telecom/ISP (-32%), BFSI (-22%), and other sectors.
Hiring Trends by Functional Area (YoY numbers)
In Demand:
Legal (+5%) sees the highest growth, followed by marginal increases in Real Estate and Hospitality & Travel.
Facing Challenges:
Major declines in Software, Hardware, Telecom (-41%) and other areas like Finance & Accounts and Marketing & Communications.
About the foundit insights tracker
The foundit Insights Tracker (fit) Singapore, earlier known as the Monster Employment Index, is the leading guide to Singapore’s e-recruitment landscape. By examining millions of job listings, fit provides insights into the hiring trends in Singapore.
