Job vacancies hit a high

THE number of job vacancies in Singapore hit a four-year high of 50,200 in September this year, reflecting the buoyant state of the economy.

It is a 36 per cent rise over the 36,900 openings the previous September, when Singapore was recovering from a recession.

Preliminary figures released on Thursday by the Ministry of Manpower show the vast majority (76 per cent) of the vacancies are in the services sector, a situation economists attribute to the sector being the top creator of jobs this year.

In contrast, job openings in manufacturing totalled 8,300 (17 per cent) and in construction, 3,300 (7 per cent).

The hunger for workers is especially acute in the hotel, retail and financial services industries, noted Citigroup economist Kit Wei Zheng. While the services sector is bulging with job openings, employers have found it hard to fill them as a result of government measures restricting the inflow of foreign workers, he said.

Barclays Capital economist Leong Wai Ho suggested that companies focus on retraining their workers to take on more work: 'They should also look at ways to recruit more older workers and also contract workers.'

The Straits Times