Job advertising in Singapore dropped 21.8%

Here are the main culprits.

According to Robert Walters' Asia Job Index for Q2 2013, general job advertising numbers fell 21.8% with a year on year comparison as Singapore’s position as an Asian hub continues to change.

In contrast, job advertising numbers grew by 5.6% on the previous quarter, during what is traditionally a busier quarter than Q1.

The fall is due to the strengthening dollar, increasing cost of living and the rising number of companies re-hubbing to a more cost-effective locations – resulting in a decline in advertising volumes.

However, there were marginal changes in open positions for mid to senior-level professionals from Q2 2012. Job adverts for positions within retail and sales were up 9.1%, reflecting a resilient consumer market where new positions continue to emerge.

Singapore remains a key economic centre for Southeast Asia and a number of new companies have set up businesses, particularly across the technology, FMCG and automotive sectors.

Toby Fowlston, Managing Director of Robert Walters Singapore, commented:

Whilst the investment banking sector in Singapore is seeing some cost challenges, other sectors are growing and we have been working with a number of companies who are setting up in Singapore.

The Asia Job Index figures, which include job advertising across all levels of seniority, are similar to what we experienced in 2011 with a decrease in comparison to Q2 2012.

However the figures we see at Robert Walters are geared towards white collar employment and they show a consistent level of employment opportunity with quarter on quarter growth. In particular, we have seen an increase in contract vacancies which is becoming a more attractive option for both employers and employees.”