\n<\/p>\n
The shift is particularly evident in the technology sector, where artificial intelligence is reshaping how people work and driving demand for new roles, according to LinkedIn.<\/p>\n
The number of tech job postings have climbed for 18 consecutive months, fuelled by interest to acquire new tools and digital services.<\/p>\n
Job-matching platform Indeed has also seen bright spots in other sectors.<\/p>\n
Its latest figures show that job opportunities in the hospitality and tourism industry have surged by 64.3 per cent since June.<\/p>\n
Overall, the platform reported a 1 per cent increase in job postings last month after two months of decline, though it expects the upward trend to moderate.<\/p>\n
\u201cThere’s certainly a sense that the job market is cooling a little bit. We know that hiring intentions are down a little bit as well,\u201d said Mr Callam Pickering, Indeed’s Asia-Pacific senior economist.<\/p>\n
\u201cI think a lot of businesses are concerned around the global economic environment, which has certainly become a little less predictable this year.\u201d<\/p>\n
Indeed\u2019s data also shows that Singapore\u2019s job figures have been trending down over the past three years.<\/p>\n
Mr Pickering said this is largely due to a drop in momentum following the post-pandemic hiring boom.<\/p>\n
While the economy continues to create jobs, he pointed out that the pace of growth has eased compared to about a year ago.<\/p>\n
Mr Pickering added that business leaders often make hiring decisions based on reliable growth forecasts about their companies and the wider economy.<\/p>\n
\u201cThat\u2019s increasingly difficult this year,\u201d he said. \u201cI think that\u2019s probably playing into some of the headcount decisions that businesses are making across Singapore at the moment.\u201d<\/p>\n
Professor Lawrence Loh, from the National University of Singapore (NUS) Business School’s strategy and policy department, said that job postings serve as a key indicator of labour market health.<\/p>\n
Measures such as government-sponsored traineeships could help support the labour market, especially when many companies are reluctant to take on new employees, he said.<\/p>\n
\u201cThe saving in the cost is definitely an incentive. But on the other hand, having too many traineeships actually distorts the market forces, because it’s not a real reflection of the demand conditions for jobs,\u201d he added.<\/p>\n
\u201cThere might even be an ironic effect that you have more firms signing up for traineeship rather than actually offering jobs.\u201d<\/p>\n
Prof Loh cautioned that while traineeships can offer short-term relief, they cannot be a permanent solution.<\/p>\n
He said schemes need to be carefully calibrated to avoid distorting the market and to ensure jobseekers are not left vulnerable if support is scaled back.<\/p>\n<\/div>\n