Job outlook in Singapore for 2021
Posted on November 19, 2020
Singapore has always been one of the favored destinations for an overseas career and this is because it offers a high standard of living and good career opportunities in various sectors.
The job outlook for Singapore in 2021, indicates job opportunities in manufacturing, transportation, finance and insurance, and retail sectors. According to a Jobstreet Report, the sectors that will continue to hire well into 2021, in spite of the slowdown in economic growth due to the Coronavirus pandemic.
Sectors that will see a good hiring rate are:
- Banking & Finance
- Computing & IT
- Security & Law Enforcement
- Transportation & Logistics
- Manufacturing & Production
Average monthly salaries in Singapore 2021
Information technology – 8,480 Singapore dollars
Banking – 9,190 Singapore dollars
Telecommunications – 7,450 Singapore dollars
Human resources – 7,990 Singapore dollars
Engineering – 7,130 Singapore dollars
Marketing, advertising, PR – 9,470 Singapore dollars
Construction, real estate – 4,970 Singapore dollars
Job market outlook 2021
There is no doubt that the Coronavirus pandemic has had an impact on the economy in Singapore. The GDP of the country shrunk to 6 percent this year due to the pandemic but is expected to expand by 7 percent next year according to a report released by the Asean+3 Macroeconomic Research Office (Amro).
The pandemic has impacted certain sectors more than the others especially wholesale and retail. The hospitality and tourism sector and the construction sector are badly affected.
Sectors such as manufacturing, finance and insurance will continue to grow. Industries like electronics and pharmaceuticals will provide an impetus to the growth in the manufacturing sector.
The economy will recover on the strength of the growth in these sectors.
The government is making efforts to help in the economic recovery. It has announced that it will create 100,000 jobs in 2021 to mitigate the impact of the pandemic. Announcing this in June, the Singapore minister for Trade and Industry Chan Chun Sing said, “We will work hard to make sure everyone who wants a job can get a job. So long as you are able and willing, we will support you.”
Called the SGUnited Jobs and Skills Package, it would include 40,000 jobs, 25,000 traineeships and 30,000 skills training opportunities.
The minister announced that a huge number of jobs which will be equal to more than three times the annual number of jobs that will be created. These jobs will be in sectors such as healthcare, early childhood education, transport, information and communications technology, and financial services.
Here is a breakdown of the number of jobs:
Traineeships across industries-25,000
This incentive by the government promises a positive job outlook for these sectors in Singapore for 2021.