THE share of job vacancies in Singapore that were newly created – as opposed to positions vacated by former employees – reached 47.3 per cent in 2023, the highest since this data series began in 2018.
This was up from 38.7 per cent in 2022, according to the latest Job Vacancies report released by the Ministry of Manpower (MOM) on Monday (Mar 25).
MOM said: “The majority of these newly created positions arose due to business expansion into existing and new functions. This reflects the evolving nature of our economy and the accompanying changes in manpower demand.”
Employees must continue to upskill and reskill to fill these new positions, and the government will support this process, it added.
In 2022, the share of newly created positions registered the only dip to below 40 per cent since data collection began. The larger proportion of replacements was due to the backfilling of vacancies caused by the pandemic when borders closed, an MOM spokesperson said in a media briefing.
As reported earlier in March, the number of job vacancies in Singapore grew to 79,800 in December, ending a six-quarter streak of declines from March 2022’s peak.
Content retrieved from: https://www.businesstimes.com.sg/singapore/share-newly-created-job-vacancies-singapore-six-year-high.