Annual online hiring sees 22% dip in February amidst economic challenges

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pstrongThe BFSI sector saw a 36% decline in hiring activity./strong/p pAnnual online hiring in Singapore declined by 22% year-on-year (YoY) in February due to a “negative economic shift in the market,” with the Monster Employment Index declining to 108 this month from 138 in the same period last year according to talent platform foundit.

Annual online hiring in Singapore declined by 22% year-on-year in February due to a “negative economic shift in the market,” with the Monster Employment Index declining to 108 this month from 138 in the same period last year according to talent platform foundit.

It is followed by the IT/Telecom/ISP which fell by 35%, and the Advertising, Market Research, Public Relations, Media and Entertainment Industries which were down by 32%. “The decline can primarily be attributed to significant advancements in technology, particularly in artificial intelligence, which has enabled the widespread adoption of automated customer service solutions,” foundit said.

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