The Singapore job market showed positive signs in 2023 with a significant increase in new job openings, nearly half of which being completely new positions, according to the latest Job Vacancies report by Singapore’s Ministry of Manpower. This marks a strong rise compared to previous years and reflects the changing needs of the economy.
The government agency noted that a majority of these newly created positions resulted from business expansions into both existing and new functions, highlighting the dynamic nature of the economy and corresponding shifts in workforce demands. The ministry stressed the importance of continuous upskilling and reskilling for employees to meet the demands of these emerging roles, and pledged government support for this purpose.
The report also found a shift in the types of jobs available. There is a growing need for professionals, managers, and technicians, especially in areas like technology, finance, and healthcare. This highlights the increasing demand for skilled workers in these sectors.
Even with recent layoffs in tech companies, the report found that there remains a strong demand for tech-related positions. Jobs in software development and related fields continue to be in high demand, with new areas like artificial intelligence attracting growing interest from employers.
The report also suggests an increase in offered salaries compared to the previous year.
Featured photo by Winel Sutanto on Unsplash
