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PMETs, jobs: Newly created positions made up nearly half of Singapore job vacancies in 2023, said MOM report
MOM said that the majority of these newly created jobs, including PMET jobs, resulted from business expansion into existing and new functions.
SINGAPORE – In 2023, nearly half, or 47.3 per cent, of the total job vacancies in Singapore were newly created positions.
This was an increase from 38.7 per cent in 2022 and the highest since the Ministry of Manpower (MOM) started tracking these job vacancies in 2018, said the ministry in a statement accompanying its release of the Job Vacancies 2023 report on Monday (25 March).
According to MOM, the majority of these newly created positions resulted from business expansion into existing and new functions.
"This reflects the evolving nature of our economy and the accompanying changes in manpower demand," said MOM in its statement.
PMET vacancies rising
At the same time, the proportion of vacancies for Professionals, Managers, Executives and Technicians (PMETs) continued to rise in 2023. PMET jobs made up 57.2 per cent of the total job vacancies in 2023, up from 56 per cent in 2022 and 39.2 per cent in 2013.
The higher demand for skilled workers, particularly in sectors such as Information & Communications, Financial & Insurance Services, Professional Services, and Health & Social Services, was the main reason for the steady increase in the proportion of PMET job vacancies over the decade, said MOM.
Also read: Full-time female employees in Singapore got 14.3% less pay than male counterparts in 2023: MOM study
Also read: Job retrenchments in Singapore more than doubled in 2023: MOM's advance labour market estimates
Vacancies for technology-focused jobs remained strong in 2023, despite the higher number of retrenchments and business restructuring seen in tech firms at the time. Software, web and multimedia developers continued to top all PMET vacancies in 2023, similar to the previous year.
This is followed next by teaching and training professionals, while commercial and marketing sales executives ranked third. Job vacancies for system analysts also remained within the top 10 PMET vacancies, according to MOM.
Among these jobs, MOM said that employers were willing to pay more in 2023 compared to the previous year due to the strong demand for PMET workers.
Employers looking beyond academic qualifications
Meanwhile, the report also found that more employers are looking beyond academic qualifications when filling PMET job vacancies. The proportion of vacancies where academic qualifications were not the main determinant in hiring continued to rise to 74.9 per cent in 2023, up from 73.6 per cent in 2022. This figure was 67.1 per cent in 2017.
A majority of employers also indicated that they were open to hiring candidates who have lower than the position's required qualifications, if the applicants possess the relevant work experience, skills, or attitude.
"This suggests that while academic qualifications are still relevant in hiring decisions, there is an increased willingness among employers to also consider applicants’ relevant experience and skillsets," said MOM.
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