Singapore’s job market witnesses a remarkable uptick in positions leveraging generative artificial intelligence (AI), as per data released by leading global hiring platform, Indeed. By the end of August, one out of every 490 job postings in the country is associated with generative AI, marking a notable upswing.
“The number may not seem like a big number but it is rapidly increasing. Artificial intelligence is hardly new but it continues to evolve. This year, we’ve seen the emergence of large language models, such as Chat GPT, which create the illusion of real intelligence. These tools have the potential to fundamentally change the future of work and are already being incorporated into many Singapore jobs.”Callam Pickering, APAC Senior Economist at Indeed
He added that “while we are clearly very early in the emergence of these tools, particularly as they relate to job creation, this will be a trend to watch closely over the months and years to come.”
Job Postings in August
Despite a slight 1.9% contraction in job postings on Indeed for Singapore in August compared to the preceding month, the trend continues a ten-month trajectory of decline. This positions current postings nearly 20% below figures from the previous year, marking the lowest level since August 2021. Nonetheless, they remain 63% above pre-pandemic levels. Callam Pickering anticipates a continued decrease in job postings throughout the remainder of the year, reflecting a more challenging economic climate.
Postings Down in Most Occupations but Demand for Medical Professionals Surges
Over the last three months, job postings have experienced growth in only 16% of occupational categories.
Notable surges were observed in veterinary (+59%), physicians & surgeons (+42%), and pharmacy roles (+27%). Conversely, categories like beauty & wellness and civil engineering faced declines of approximately 21%.
Significant drops were also noted in legal, cleaning & sanitation, chemical engineering, and driving roles. Despite these fluctuations, each occupational category maintains postings above pre-pandemic levels.
“Singapore’s labour market remains incredibly tight, with unemployment low and job vacancies still elevated. Nevertheless, job postings continue to moderate, having fallen for ten consecutive months. These declines have been broad-based, reflecting most occupational categories. A more challenging economic environment will likely lead to a further decline in job postings over the remainder of the year.”Callam Pickering, APAC Senior Economist at Indeed