• Job vacancies decline but remain elevated compared to pre-pandemic levels
• PMETs make up a growing majority of job vacancies, with technology talents highly sought after
• Government initiatives help employers fill vacancies and redesign jobs
Today, we’ll explore the trends and challenges of the “Job Vacancies 2022” report.
Put on your thinking caps as we dive into the world of work and uncover helpful tips for jobseekers and employers alike.
Job Vacancies: A Mixed Bag
Job vacancies declined for the third consecutive quarter in December 2022, but the number was still higher than before the pandemic.
With borders reopening, employers were eager to fill positions left vacant during the pandemic.
The number of vacancies for new positions also rose as businesses continued to grow or restructure.
The Information & Communications sector had the highest proportion of vacancies for new positions, showing the dynamism of the sector.
Rise of PMETs and Technology Talents
PMET positions made up a growing majority of job vacancies in 2022, reflecting the demand for skilled workers in sectors like Information & Communications, Financial & Insurance Services, and Health & Social Services.
Technology talents like software, web & multimedia developers, and software & applications managers were highly sought after due to ongoing digitalisation trends.
Business development managers, sales executives, and healthcare professionals also remained in demand.
Challenges in Filling Vacancies
Though the number of job vacancies rose in 2022, the proportion of vacancies unfilled for at least six months declined.
This was observed across both PMET and non-PMET vacancies.
Non-PMET vacancies saw a sharper decline, as employers could hire foreign workers to fill these roles.
For difficult-to-fill PMET roles, employers cited unattractive pay, lack of specialised skills, and lack of necessary work experience as the main reasons.
For non-PMET positions, reasons included physically strenuous job nature and non-conductive work environment.
Government’s Initiatives to Support Employers
To help employers fill vacancies, the government offers initiatives such as:
- Support for Job Redesign under Productivity Solutions Grant,
- Workforce Singapore’s Career Conversion Programmes
- SGUnited Mid-Career Pathways Programme
- Wage offsets through the Enabling Employment Credit and Uplifting Employment Credit
Actionable and Practical Takeaways
• Jobseekers should focus on improving their skills and work attitude, as qualifications are not the main determinant in hiring
• Employers should adopt a skills-based approach and consider a wider pool of candidates
• Both jobseekers and employers should take advantage of government initiatives to improve job prospects and business growth
The job market in Singapore has seen its ups and downs in 2022.
With the government’s initiatives and a focus on skills and work attitude, jobseekers and employers can overcome challenges and find success in this dynamic landscape.
The full report and technical notes on the various indicators can be found at Manpower Research & Statistics Department.
Now, tell us, what are your thoughts on the job market in Singapore? Let’s discuss in the comments below!