Singapore registers 6% growth on the year

The Singapore Monster Employment Index witnesses slight moderation in the pace of growth, year-on-year. Nevertheless, it charts a six per cent growth from July 2013. Sanjay Modi, Managing Director, (India/ Middle-East/ South East Asia/ Hong Kong), shares his insights

While the Singapore Monster Employment Index continues to trend on a positive year-on-year growth path, the growth momentum has eased slightly in July.

"Engineering, Construction and Real Estate, Production/Manufacturing, Automotive and Ancillary have been the quietest in the last couple of months while recruitment activity was most buoyant in IT, Telecom/ISP and BPO/ITES, and BFSI," said Sanjay Modi, Managing Director, (India/ Middle-East/ South East Asia/ Hong Kong).

According to the latest report by the Ministry of Manpower, job creation in Singapore slowed in Q2. The Monster Index has found that Manufacturing and Construction were the worst affected sectors while Services continued to generate the majority of employment.

"Firms in the Services sector, particularly Finance and Insurance, are increasingly optimistic about business prospects in the coming six months on the back of gradual global economic recovery, as revealed by the Department of Statistics," Modi concluded.

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