Job opportunities in Singapore decreased by 8% in 1Q12

In the whole Asia Pacific region, job postings decreased to only 2,432 compared to 2,555 in the same period last year.

And Singapore wasn't an exception as employment opportunities also decreased 8%.

Slowing job opportunities across APAC combined with mixed sector trends in the region’s top financial markets were evident in the first quarter, ending March 31 2012 according to eFinancialCareers.

Financial sector job availability slowed in the region by 5% year-on-year with average job postings in APAC decreasing from 2,555 in Q1 2011 to 2,423 in Q1 2012.

Mixed results were recorded within the APAC region. Australia experienced the greatest quarter-on-quarter slowdown in the number of financial sector job opportunities, with a 19% average reduction in Q1. This slowing quarter-on-quarter trend was also present in Singapore and Hong Kong, but to a lesser degree, with 8% and 9% decreases, respectively.

A general trend of lower employment opportunities was evident across the region in Q1, except in Singapore where there was a 6% year-on-year increase. However,significant local employment factors mean that Q2 and the rest of 2012 may see markets slightly diverge.

Although recruitment sentiment in Q1 2012 was not quite as buoyant as Q1 2011 the number of job postings was slightly up. Private banking relationship managers remain in high demand and short supply as Singapore continues to cement its status as a wealth management hub. Regulatory reporting is another “hot job” as banks seek experts in Basel III and the Dodd-Frank Act. However, fears about job security have made candidates more reluctant to move firms than in the same 2011 period.

In Hong Kong, the employment market is less buoyant than the first quarter of 2011. Hong Kong saw more investment banking redundancies than Singapore, China and Australia, and more retrenchments are expected at global banks in Q2. Although recruitment rates are down, some positive trends are emerging – such as private banks increasingly trying to recruit Mandarin speaking Chinese nationals who have strong relationships with mainland client networks. As in other markets, regulatory functions – such as risk, compliance and anti-money laundering – will remain in demand.