Online hiring in Singapore up 3% in May

The BFSI sector saw a 19% growth in e-hiring activities.

E-hiring in Singapore rose 3% in May, a study by online career and recruitment firm Monster revealed.

The growth was led by the double-digit advance in the online hiring of the banking, financial services, and insurance (BFSI) sector which saw a 19% YoY growth in May.

Other sectors which witnessed YoY growth in online hiring activities include IT and telecom (13%), manufacturing (12%), media and advertising (8%), and engineering and construction (8%).

“Industries such as BFSI and Production and Manufacturing have surprised us with their success. With MAS modifying the country’s monetary policy, this state of flux can be expected to continue for a while,” Monster.com APAC and Middle East CEO Abhijeet Mukherjee said.

Meanwhile, online hiring in health care and consumer goods remained stagnant whilst import/export (-2%), government (-3%), shipping and marine (-3%) saw declines in online hiring activities.

“Powerful economies flexing their muscles and engaging in tariff wars have influenced international trade flows and shaken up financial markets-these developments have left Singapore’s industrial prospects looking rather shaky,” the CEO said.