DEMAND for professionals, managers and executives is at a 10-year high, with four in 10 job vacancies crying out for their skills.
Professionals, especially engineers, are much sought after, while managers are the coveted ones in the financial services sector, including banks.
Overall, the booming economy generated 35,498 job openings last year, an almost 20 per cent increase over the 29,942 vacancies in the previous year.
The annual figures ending in September were released yesterday by the Ministry of Manpower (MOM) amid the threat of a recession in the United States economy.
However, headhunters like managing director Mark Ellwood, of Robert Walters Singapore, do not expect it to slow down the hiring of professionals, managers, executives and technicians (PMETs).
'At least not for the next six months,' he added.
The MOM survey last September polled about 11,000 companies in the private sector. And for the first time, the figures also included public-sector vacancies of the past two years.
All in, job openings for PMETs rose to 45.1 per cent last year, from 43 per cent the year before.
The No. 1 job in demand among PMETs is for management executives, usually with university degrees.
In fact, many more jobs are asking for higher qualifications, at least an Institute of Technical Education certificate or A levels.
Last year, 51 per cent of the openings required such qualifications, compared to 47 per cent a year ago.
However, soft skills such as the ability to persuade, build a team and work with other departments are becoming increasingly important, said Mr Tim Hird, managing director of recruitment firm Robert Half Singapore.
He added: 'The accountant is no longer a bean counter. He is in the boardroom helping to make strategic decisions for the growth of the company.'
In manufacturing, engineers specialising in electronics and semiconductors are particularly sought after as the electronics industry continues to be a mainstay in the economy. Last year, it attracted $5.1 billion in fixed asset investments, coming in second after the chemicals industry.
Recruiters like Mr Hird believe the future looks bright for PMETs as Singapore continues to attract foreign companies to set up their headquarters or regional centres. 'It is a great market for professionals with such specialist skills as accounting, banking and finance,'' he said.
Although the Singapore economy is projected to grow at a slower pace of 4.5 to 6.5 per cent this year, vacancies in the construction industry are unlikely to dry up.
Last year, the booming sector had five times more openings for building and construction engineers than a year ago, and nearly twice as many for building and construction managers.
The non-PMETs are made up of two groups: production and related workers, plus clerical, sales and service workers.
All but one occupation saw an increase in job openings, with demand for clerical staff soaring by 49 per cent in one year. It reflects the demand in the public sector for administrative clerks, and receptionist and information clerks.
The exception was demand for plant and machine operators, which fell by 6 per cent. In particular, work in assembling electronic equipment and components plunged by more than a third.
