2024 Jobs Outlook: Local Employers are Hiring (and Paying) for Skills Rather Than Paper

Earlier this year, Singapore’s Ministry of Manpower (MOM) released a detailed report on job vacancies, analysing in detail the following:

• The type and nature of positions employers are looking to fill.
• The type of jobs in demand.
• Their challenges in filling these jobs.

The report surveyed private sector companies which employ at least 25 people, and the public sector comprising government ministries and statutory boards.

A total of 16,800 establishments employing 2,168,900 employees responded, with a response rate of 89.0%.

Here’s a closer look at some of the key findings below.

New jobs from the new economy

The share of vacancies from newly-created positions amongst all jobs available in 2023 reached a high of 47.3%, compared to 38.7%.

This is the largest number since MOM began tracking this figure in 2018, and comes primarily from businesses expanding into existing and new functions and markets.

Here’s a list of the industries ranked by order of vacancies for new positions:

1. Information and Communications
2. Construction
3. Food and Beverage Services
4. Retail Trade
5. Transportation and Storage
6. Financial and Insurance Services
7. Cleaning and Landscaping
8. Professional Services
9. Security and Investigation
10. Manufacturing
11. Wholesale Trade
12. Public Administration and Education
13. Health and Social Services
14. Real Estate Services
15. Arts, Entertainment and Recreation
16. Accommodation

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Wondering which growth sectors are hiring more for PMETS?

There has been a steady increase of professionals, managers, executives and technician (PMET) job vacancies over the past decade (from 39.2% in 2013 to 57.2% in 2023).

The niche skills that PMETs possess have been particularly desired by companies in:

• Financial and Insurance Services
• Professional Services
• Health and Social Services

However, some key sectors, such as health and social services, information and communications, and professional services, have had a harder time filling their vacancies due to a lack of workers with specialised skills and relevant work experience. These include jobs like:

• Software, web and multimedia developer
• Registered nurse and other nursing professional
• Enrolled/Assistant nurse

What about non-PMET jobs?

The number of non-PMET job vacancies continued to decline from 44% in 2022 to 42.8% in 2023, returning back to pre-pandemic levels (41.9% in 2019).

Non-PMET job vacancies left unfilled for at least six months have also declined from 55.2% in 2013 to 28.5% in 2023, which can be attributed to changes in the job market from technology adoption, job redesign, skills upgrading and higher wages.

However, various non-PMET roles are still in high demand, particularly those in transportation and storage, food and beverage services, and manufacturing. The jobs they are actively seeking to hire for include:

• Waiter
• Cleaner
• Receptionist
• Customer service and information clerk
• Healthcare assistant
• Bus driver

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Skills are becoming more important than paper qualifications for all jobs

Academic qualifications are also becoming less important for employers in filling job vacancies. The proportion of employers willing to consider applicants’ experience and skills has increased from 73.6% in 2022 to 74.9% in 2023.

That percentage has risen to 67.3% for PMETs in 2023, with employers valuing relevant work experience, skills, and work attitude as key considerations.

The MOM report stated: “As long as candidates possess the minimum required qualification, their work experience, skills and work attitude will take precedence when assessing their suitability for jobs.

“Hence, having a higher qualification does not mean a candidate will be ranked ahead of their counterpart with a lower qualification.”

Examples of such vacancies are:

• Software, web and multimedia developers
• Management executives
• Budgeting and financial accounting managers
• Business development managers

A large majority of 85.9% of non-PMET employers prized other considerations over academic qualifications.

Personality traits such as being detail-oriented, adaptable, and fit with organisational culture and values were more crucial to employers.

Examples of such vacancies are:

• Waiters
• Shop sales assistants

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Top 10 PMET jobs in demand, the top skills they need, and salary ranges

Rank	Occupation	Skills Needed	Salary Range (SGD $)
1	Software, Web and Multimedia Developer	Programming Critical thinking Complex problem-solving	5,000-8,505
2	Teaching and Training Professional	Instructing Speaking Learning strategies	3,080-8,850
3	Commercial and Marketing Sales Executive	Persuasion Speaking Coordination	3,000-4,200
4	Management Executive	Reading comprehension Speaking Writing	2,400-6,250
5	Budgeting and Financial Accounting Manager	Reading comprehension Speaking Monitoring	7,000-10,000
6	Industrial and Production Engineer	Reading comprehension Complex problem solving Speaking	4,000-6,500
7	Management and Business Consultant	Complex problem-solving Judgement and decision-making Reading comprehension	5,000-8,000
8	Systems Analyst	Reading comprehension Systems analysis Speaking	5,500-9,600
9	Registered Nurse or Other Nursing Professional	Social perceptiveness Coordination Service orientation	2,730-5,000
10	Business Development Manager	Monitoring Persuasion Judgement and decision- making	6,000-10,000

Top 10 non-PMET jobs in demand, the top skills they need, and salary ranges

Rank	Occupation	Skills Needed	Salary Range (SGD $)
1	Waiter	Speaking Service orientation Service perceptiveness	1,950-2,500
2	Cleaner	Speaking	1,570-2,010
3	Shop Sales Assistant	Persuasion Speaking Service orientation	2,000-2,500
4	Receptionist, Customer Service and Information Clerk	Reading comprehension Speaking Service orientation	2,100-3,000
5	Construction Labourer	Operations monitoring Coordination Operation and control	800-1,500
6	Security Guard	Speaking Monitoring Coordination	2,600-3,000
7	General Office Clerk	Speaking Writing Reading and comprehension	2,000-3,000
8	Heavy Truck and Lorry Driver	Operation and control Operation monitoring Monitoring	2,500-3,300
9	Supervisor/General Foreman (Building and Related Trades)	Critical thinking Coordination Speaking	800- 3,000
10	Healthcare Assistant	Service orientation Social perceptiveness Speaking	1,800-3,000