Online hiring in banking and finance surged 23% in August

Finance and account field talents saw their demand rising up by 7%.

The banking, financial services and insurance (BFSI) sector fueled the 1% YoY growth in Singapore’s online hiring for August as the sector’s hiring jumped 23% YoY, recruitment firm Monster found.

The study also found that the sector also observed an uptrend in other parameters as its online hiring inched up 2% MoM, 6% for three-month growth, and 3% on six-month growth.

The IT, telecom, and BPO industry followed the BFSI’s lead as its online hiring grew 11% YoY. An uptrend in online hiring was also seen by other industries such as production/manufacturing (4%), engineering, construction and real estate (3%) and oil and gas (2%).

Meanwhile, the hospitality sector posted the largest decline as its online hiring dropped 5% YoY. Other sectors such as education (4%) and healthcare (3%) also saw a slip in online hiring.

In terms of job roles, talent in the finance and accounts field is deemed as the most in-demand, with a 7% YoY in August. The legal industry comes next with 6% annual growth in their sector’s hiring.

On the other hand, the availability of roles in occupations related to health care dropped 12% YoY. Other sectors also saw declining demands including hospitality and travel (-6%), real estate (-6%), HR and admin (-4%) and supply chain (-2%).

“With restructuring picking up pace amidst rapid advances in automation and artificial intelligence, jobs and skills mismatches will continue to be a challenge for the labour market.” Monster.com CEO for APAC and Middle East Abhijeet Mukherjee said.