Hiring for real estate roles up 16%
This is in contrast with slowing employment demand overall, says job portal Indeed.
Singapore’s real estate sector is enjoying a hiring spree, with job postings for roles in the sector surging 16% in the three months through April, according to data from job portal Indeed.
Demand for civil engineers in the Lion City also jumped 31% during the same period.
“This surge in demand comes as Singapore’s property market continues to boom post-pandemic with the absence of restrictions on construction and a rise in migration as borders reopened and expats returned,” the report stated.
According to data from The Ministry of Trade and Indusdtry, the construction and manufacturing sectors hired 9,200 and 3,200 people, respectively, in Q1.
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This is in contrast to the overall employment market. Demand continues to cool with job postings on Indeed falling by 1.8% in April compared to the previous month.
“Overall, the data from Indeed suggests that while labour demand may be cooling, there are still areas of growth in the Singapore job market, with the demand for real estate and civil engineers continuing to rise,” said Callam Pickering, APC senior economist, Indeed.
Pickering noted that demand for workers continues to outstrip supply—characterised by critical skill and talent shortages— which has helped keep unemployment low.
“However, a deteriorating global economy, driven by high inflation and rising interest rates, already appears to be weighing on Singapore’s economy and would be expected to impact labour market conditions in the second half of the year,” Pickering warned.
The healthcare industry notably saw the greatest decline in job postings across most roles. Pharmacy positions dropped 39% in the past three months; whilst postings for physicians and surgeons also fell 28%.
However, demand for physicians and surgeons are still higher by twofold compared to pre-pandemic levels, Indeed found.
Postings for dental professionals (-26%), veterinary practitioners (-25%), and medical information personnel (-24%) also declined.
The sole exception is nursing, where demand rose 5.6% over the same period.
“As the numbers have shown, demand for workers may have softened but worker shortages are no doubt still common. There remains a lot of jobs available across Singapore with job postings still higher than pre-pandemic levels,” said Pickering.