Online hiring activity in IT and telecom sectors jumped 23% in 2018

The sectors had witnessed its steepest growth in November 2018.

IT, telecom and business process outsourcing (BPO) sectors lead Singapore’s online hiring activity throughout 2018, netting a growth of 23% YoY in December, according to Monster Employment Index’ Q4 report.

Over the course of October to December 2018, the IT, telecom and BPO sectors were continuously up, and in November, witnessed its steepest growth since March 2018. Considering the government of Singapore’s commitment to assisting local businesses in upskilling and reskilling their workforce to be prepared to take on digital roles, it’s likely this sector will continue to be a leader.

“For the fourth quarter of 2018, jobs in Singapore’s legal occupation saw the sharpest year-on-year growth in online demand in October and December. The nation saw the steepest decline in the Hospitality industry,” the report added.

Other sectors whose online hiring had a strong year includes media and entertainment and banking, financial services and insurance (BFSI).

Singapore’s advertising, market research, public relations, media and entertainment has had a strong year, witnessing strong growth since June 2018, the report said.

The said sectors had recorded the steepest three-month growth among all sectors, growing on a month-on-month basis throughout the quarter, up 3% MoM. Meanwhile, online recruitment activity in BFSI rose 16% YoY in November. This is said to be a trend that has been going strong since April 2017.

On the other hand, Singapore’s HR & administration sector saw declines in hiring activity. This is attributed to either companies slowing hiring activity toward the end of the year or shifting focus to bringing seasonal workers to assist with the holiday surge. The report added that the HR & administration sector could swing back up in 2019.