NEW POSITIONS ARE NOW BEING CREATED
Additionally, according to the report, 45.7 % of the vacancies last year were newly created positions, down from 47.3 % in 2023.
The large number of newly created positions, according to Mr. Ang Boon Heng, director of MOM’s workforce studies and statistics division, despite the slight decline, demonstrates the dynamism of the labor market.
Instead of the same jobs being filled by various employees, he claimed, there are fundamental changes to the work and a shift toward higher-skilled positions.
54.7 percent of the new jobs were created as a result of the rise of the company’s core business functions. Around a third of jobs were created as a result of business expansion, and 6.5 % were created as a result of job redesigns or redesigns.  ,
Information and communications, specialized services, and financial and insurance companies were the industries with the most open positions for newly created positions.
That, according to MOM, was in line with these businesses ‘ overall economic growth.
On the other hand, there were fewer previously created work jobs in retail industry and food and beverage services.
This may reflect the slower business growth seen in the sector as locals shift their vacation budgets to other countries, according to the government.  ,
JOB MISMATCHES ARE SLOW.
Job matching performance, which measures how quickly an unskilled person can find employment, has improved over the past two years, according to MOM.
According to the document, both the poverty level and the job position price have decreased, suggesting that the labor market is more effective at matching employees with available jobs.
But, MOM’s Mr. Ang acknowledged that there will be exceptions, even though the macro view accurately captures the views of the majority of employees.
” People on the ground will claim that our knowledge is diverse,” he said. The agency’s report emphasizes the general view, which shows a reduction in architectural discrepancies, not that the exclusions are irrelevant.
” It kind of aligns with what we’re seeing also in the hard-fill vacancies,” he said.
Unfilled vacancies for at least six months decreased from 23.5 % in 2023 to 19.4 % last year. In 2014, the number stood at 41.4 per share.  ,