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Online hiring in Singapore sees 17% spike in March, led by tech sector: Monster.com
ONLINE hiring in Singapore saw a steep upswing in March 2019 with a 17 per cent year-on-year growth led by a strong IT sector, according to the latest Monster Employment Index (MEI).
This is a faster pace of gain compared with recent months - online hiring demand rose 5 per cent year on year in January and 3 per cent in February, recruitment platform Monster.com said in a press statement on Friday.
“Singapore has taken everyone by surprise this month, with double-digit growth in online hiring activity after a long time,” said Abhijeet Mukherjee, CEO of Monster.com, Asia-Pacific and the Middle East.
“This positive uptrend comes as a sigh of relief following the projection of an economic slowdown released by the Monetary Authority of Singapore last month,” he added.
Leading the growth in March were the IT, telecommunications, business process outsourcing and IT enabled services industries, where online hiring surged by 40 per cent year on year in March, against a 20 per cent rise in February.
The advertising industry saw 29 per cent more activity, while the banking, financial services and insurance industry saw a 28 per cent rise.
An exception was the shipping/marine industry, which recorded no movement in March.
In terms of occupations, the highest spike in online hiring demand was observed for software, hardware and telecommunications professionals, with a 29 per cent growth compared to the year-ago period.
There was also a 20 per cent rise in demand for finance and accounts candidates, as well as an 18 per cent increase for those in sales and business development roles.
In contrast, online hiring demand in March slumped for real estate and healthcare professionals, by 5 per cent and 1 per cent respectively.
The MEI is a monthly compilation of online job posting activities. Monster.com tracks the industries and occupations with the highest and lowest growth in recruitment activity within Singapore.