Is Singapore losing jobs in the professional sector?
Professional positions in Singapore are migrating to neighbouring Asian countries, the Robert Walters Asia Job Index Q2 2013 reveals.
The number of job advertisements for professional positions in Malaysia, Hong Kong and China in April-June rose faster than in Singapore.
Not only professional positions, but other types of jobs are also migrating from here to these countries.
"The cost of business in Singapore is changing the corporate landscape," says Robert Walters Southeast Asia managing director Mark Ellwood.
The biggest increase was found in the Malaysia job market with job ads for professionals jumping 12.2% from the first to the second quarter this year.
The increases for the other locations were 11.3% for China, 9.9% for Hong Kong and 5.6% for Singapore. Job ads fell 8.7% in Japan and 2.2% in South Korea from Q1 to Q2.
Other interesting findings from the Robert Walters Job Index:
-- Job advertising for retail and sales professionals in Singapore were up 9.1% as a result of more growth in a resilient consumer market.
-- Outstanding increase in Malaysia in job advertisements for legal and compliance officers. This accounts for a 19.6% jump due to the larger number of multinationals increasing their in-house legal headcount.
-- The Hong Kong job market showed continuous growth in the tourism and retail sectors, with a 16.2% increase in job advertising for positions in merchandising and purchasing.
-- Singapore remains a key economic centre for Southeast Asia, attracting more start-up companies in technology, FMCG and automotive.
For more details, go to www.asiajobindex.com