Singapore

View local website

Overall Score

4.7 in 2015 4.7
0 2.5 5 7.5 10

Key Finding

Low scores for education and labour market flexibility highlight the slack in the Singaporean labour market. However, sustained periods of high long-term unemployment can exacerbate the skills shortage issues intimated by the wage premium in high-skill industries and occupations.

BREAKDOWN OF SEVEN INDICATOR SCORES

Scores
0 2.5 5 7.5 10
Education
flexibility
0.7
Labour market
participation
5.5
Labour market
flexibility
0.7
Talent
mismatch
6.1
Overall wage
pressure
5.0
Wage pressure in
high-skill industries
8.4
Wage pressure in
high-skill occupations
6.4

COUNTRY OVERVIEW

View from the ground

Singapore remains a popular choice as a strategic regional hub for multinational corporations looking to expand in Asia, particularly Southeast Asia. With IT, life sciences and banking & financial services as major driving forces behind a highly active recruitment market, businesses in Singapore continue to display positive albeit more cautious hiring sentiments. Temporary and contract roles are increasingly prevalent solutions to work around headcount limitations. While overall wage pressure has decreased slightly in comparison to 2015 (5.8 to 5.0), the local talent pool remains tight in high-skilled industries, placing upward wage pressure on roles in demand as employers seek to attract and retain talent.

Lynne Roeder, Managing Director, Hays Singapore

Lynne Roeder, Managing Director, Hays Singapore

Country Profile

Economic growth in Singapore has slowed down markedly in recent years.

Real GDP rose by two per cent in 2015, compared to 3.3 per cent in 2014.

This has led to an easing in labour market conditions.

The growth in net employment slowed down markedly in 2015, while the unemployment rate remained little changed.

Lynne Roeder, Managing Director, Hays Singapore

Comparison Tool

Downloads