Demand for tech-related jobs hit all time high in SG as postings jump 76%, says Indeed

Demand for talent in Singapore's tech sector surged throughout 2021, with job postings on Indeed increasing by 76% by the end of October as compared to February last year. In October alone, Indeed also experienced a 4.7% increase in general job postings just for the month of October. 

Job postings for tech, data and science had the third-highest increase in Singapore (+101%) after production (+153%) and installation and maintenance (+117%). Overall, job postings increased by approximately 80%. Meanwhile, job postings for retail and sales were among the bottom few, increasing by slightly over 40%.

Indeed's APAC economist, Callam Pickering, explained that despite the rise in COVID-19 cases, job creation continues to grow strongly across the city-state, highlighting Singapore’s economic resilience. "It reflects the confidence of businesses in Singapore’s economic recovery and their ability to manage the pandemic as the country reopens," he added.

Overall, market dynamics for many occupations have shifted in favour of the jobseeker, potentially leading to greater jobseeker choice and higher wages. Shortage of skills is expected to either develop or become exacerbated as the recovery continues in the coming months, said the analysis. 

Separately in July this year, Singapore's minister for communications and information, Josephine Teo, said the future jobs expected to be created from the Economic Development Board’s (EDB) committed investments in 2019 and 2020 are expected to be digital roles across the economy.

According to Teo, of all jobs that these investments are expected to create, about 40% (around 20,000) are digital roles. Teo added that collectively, these trends point to a picture of Singapore's digital future that is "very much at the forefront of our economy" and one that offers exciting opportunities for Singaporeans.

Meanwhile, Singaporeans can also expect salary increases to return to pre-pandemic levels. According to Mercer’s 2021 Total Remuneration Survey, there will be an average 3.5% increase in salary in the new year, compared to 3.3% in 2021 and 3.6% in 2019. The survey also projected overall wage increases across all 18 industries surveyed - high tech, life sciences, consumer goods, retail and wholesale, banking and financial services, and healthcare services, among others. 

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Photo courtesy: 123RF

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