As per the Robert Walters Job Index, the number of job advertisements in Singapore grew by 24% in 2Q 2011, as compared to 1Q 2011. This as companies in both commerce and financial services enjoyed a healthier quarter following the more cautious outlook throughout Q1. This is further reflected in the significant 45% year-on-year growth experienced across the Asian region.
Recruitment levels for financial services jobs in Singapore, in particular increased significantly by 21% on the back of positive banking results and increased market activity. Demand for luxury brands and consumer items remained high, as indicated by the number of shopping centres under construction, increasing job advertisements by 21% for jobs in the retail sector.
This in turn had a knock on effect within the buoyant engineering and construction market, which saw a 24% rise in advertisements for jobs in Singapore, as infrastructure projects fuel demand for facilities and construction managers.
Recruitment activity within Q2 benefited from a renewed level of confidence as companies released better than expected results and the market experienced more activity. The outlook for upcoming months is broadly positive, particularly within those sectors that are directly fuelled by increased consumer spending such as property management and retail services. - ANDREA ROSS, MANAGING DIRECTOR, ROBERT WALTERS SINGAPORE AND MALAYSIA
Below is a graph showing job advertisement volumes in Singapore, for 2011 and 2010
