Job vacancies remain high despite tech layoffs

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Job vacancies remain high despite tech layoffs

The Ministry of Manpower MOM said that technology talent continues to be sought after despite layoffs from big tech companies making the headlines, but there was still a high number of job vacancies for tech talent, despite the recent news of retrenchments by the big tech companies.

There is a shortage of such specialised skills that employers are willing to pay more for these positions. Mr Ang said that the tech layoffs were not so widespread and pointed out that tech jobs may not be in the technology sector, but span across all industries, despite questions from reporters.

In MOM's annual job vacancies report for 2022, tech jobs are among the top 10 vacancies, but the job with the most vacancies was the management executive, overtaking software web multimedia developer, which was the top job vacancy in 2021.

An MOM spokeswoman said that the majority of the vacancies for management executive in this survey were mainly in public administration and education.

For non-PMETs, the top job in demand was construction labourer. This was followed by a general office clerk.

The number of job vacancies fell to 104,500 for the third consecutive quarter in December 2022, according to MOM. The level is higher than 51,100 in December 2019 before the COVID - 19 epidemic.

MOM expects job vacancies to be moderate with the hiring sentiments remaining positive and global economic headwinds weighing on labour demand going forward.

While the total number of job vacancies rose in 2022, the proportion of vacancies unfilled for at least six months fell from 35 per cent in 2021 to 27 per cent in 2022.