Job opportunities grow in Singapore, particularly in the accommodation and entertainment sectors.
Despite concerns over a potential recession in the Asia Pacific region, hiring continues to rise in at least three countries—India, Australia, and Singapore, according to a recent report by LinkedIn.
The accommodation sector, which encompasses hotels, motels, casino hotels, and bed-and-breakfast inns (B&Bs), shows a significant demand for manpower in all three countries. In Singapore, job postings in this sector have surged by 15%, while transport and logistics have seen a remarkable 31% increase.
The entertainment sector, which includes companies involved in performances, events, and exhibitions, has experienced the most significant growth in Singapore, with job postings doubling by 100%.
However, not all sectors are thriving. LinkedIn reports that job postings in health care, education, and construction have declined by over 30%. Ms. Feon Ang, LinkedIn’s Asia-Pacific managing director, attributes the drop in construction job postings to government measures aimed at cooling the private and residential property market.
Interestingly, competition for jobs has decreased compared to last year. In Australia, India, and Singapore, applications for paid job postings on LinkedIn have fallen by over 50%. Ms. Ang noted, “Even as job postings rise, workers are becoming more selective in choosing their next role, leading to a decline in competition for jobs on average.” This shift indicates that workers are in a position to demand more from their employment, reflecting higher expectations—a positive development.
However, a potential downside is the decline in remote job options in both Australia and Singapore. LinkedIn highlighted that job postings offering remote working options received twice as many applications. Yet, interest in remote jobs appears to have diminished in Singapore, with the percentage of paid job postings allowing work from home dropping from 8% in the first quarter to 6.7% in the second quarter.
