Biggest numbers of job vacancies in past 8 years
Singapore - 2014 Q1
62,500 positions were available - MOM (Ministry of Manpower) released the figures of job vacancies for 2014 Q1.
The number has risen 3% compared to 2014 Q4 and hit the highest since 2006.
On the other hand, the unemployment rate rose to 2 per cent between January and March, up from 1.8 per cent at the end of last year.
Especially, the unemployment rate rose from 2.8 per cent to 3 per cent for Singaporeans, while it climbed from 2.7 per cent to 2.9 per cent for residents.
"Unemployment and vacancies can sometimes rise together if there are temporary skill mismatches between industry and the domestic labour pool", commented Barclays economist Leong Wai Ho. "Another cause can be differences in wage expectations between employers and employees."
Association of Small and Medium Enterprises president Kurt Wee emphasises "SMEs are trying to improve their human resource practices and welfare benefits to attract employees, and they are paying more too."
Most of the vacancies were found in the service sector.
Recruitment firm Adecco Singapore forecasts continued job growth in retail, banking, insurance and finance, with front-line staff being in high demand.
"We expect to continue seeing the 'wait and see' approach from many job-seekers," says Adecco Singapore's country manager Femke Hellemons. "Hiring companies need to be aware of this and make job offers both competitive and enticing."