2017 Q3: Slowdown In Electronics & Semiconductor Job Growth
JobTech’s 3Q 2017 Online Jobs Census across its 9 key industry sectors shows a sequential quarterly growth of 5.8% as compared to JobTech’s 2Q 2017 data.
Electronics & Semiconductor registered its first negative growth in online jobs growth since 4Q2016, when JobTech’s Online Job Census technology started monitoring Singapore jobs. This could point to a possible weakening in the manufacturing output growth in the coming quarters.
Healthcare has observed the strongest growth in the number of online jobs, registering a 15% quarterly growth in 3Q 2017, followed by Marine at 12.8% and Banking and Finance at 9.8%.
According to CIMB Private Bank Economist, Mr. Song Seng Wun, “JobTech’s real-time census of online job advertisements provides a useful snapshot of the health of the Singapore economy. Looking at the Q3 report, the slight pullback in Q3 job ads in the Biomedical and Electronics and Semiconductor clusters, two key contributors to the better-than-expected economic growth so far this year, could be the first indication that growth from the two clusters may have peaked. However, it is encouraging to note that there is jobs growth in the marine & offshore segment indicating that the worst could be behind for one of Singapore’s important manufacturing industries. Continued jobs growth in finance and logistics support the view that the global economic recovery is on track.”
As the Singapore job market heads into the last calendar quarter of 2017, JobTech has expanded its Online Jobs Census to cover 30 industry sectors in the Singapore online jobs market, scanning and de-duplicating more than 100,000 online jobs each quarter to provide an accurate view of the online jobs market in Singapore. From the JobTech 3Q 2017 Online Jobs Census, covering 30 sectors in the Singapore economy, JobTech reveals digital skills needed to access more than 20,000 Singapore jobs.
In order to provide real-time access to Online Jobs Census data, JobTech has developed 2 data APIs (Application Programming Interface) for its strategic government and industry partners to acquire up-to-date and structured jobs market data automatically. The 2 APIs will allow users to obtain sectoral data for both the de-duplicated job counts as well as the top skills demanded in real time, from the JobTech database which has more than 50 million data points.
JobTech will continue to provide flash reports covering different sectors in Singapore, with a focus on highly sought-after skills and labor market trends. In this regard, JobTech is using its Big Data Analytics and Artificial Intelligence capabilities to provide visibility and analysis of the online jobs market in Singapore to support companies and decision makers there.
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