Home » Uncategorized » SINGAPORE REPORTS LOWEST EMPLOYMENT GROWTH SINCE 2009

SINGAPORE REPORTS LOWEST EMPLOYMENT GROWTH SINCE 2009

Text Widget

This is a text widget, which allows you to add text or HTML to your sidebar. You can use them to display text, links, images, HTML, or a combination of these. Edit them in the Widget section of the Customizer.

Find jobs in singapore here  – Singapore jobs
findsingaporejobs.com

 

Over the first nine months of 2016, Singapore’s total employment grew by 14,500, the lowest such growth since 2009, according to figures from the Ministry of Manpower.

In the first nine months of 2016, 13,730 workers were laid off, higher than the same period in 2015 (10,220) and the highest since 2009 (21,210).

Total employment contracted by 2,700 in the third quarter of 2016, following slower growth in the past two quarters. This was the first decline since the first quarter of 2015.

The decline was primarily due to contractions in Manufacturing and Construction, affecting mainly Work Permit Holders.

However, re-entry rates have risen. More residents (49%) made redundant in the second quarter of 2016 secured re-employment by September 2016, an increase from the previous quarter (45%), after a general downtrend since December 2014 (59%)

Unemployment rate rises

While Singapore’s unemployment rate remained broadly stable among residents in the third quarter of 2016, the resident long-term unemployment rate rose from a year ago, with the increase broad-based across age and qualifications.

After declining for six consecutive quarters, the number of seasonally adjusted job vacancies rose slightly from 49,400 in June 2016 to 50,800 in September 2016. However, the seasonally-adjusted ratio of job vacancies to unemployed persons dipped to 0.91 in September 2016, from 0.93 in June 2016.

The contraction in total employment, heightened redundancy levels and decline in job vacancies to unemployed ratio reflect the current subdued global economic conditions and ongoing economic restructuring.

Along with efforts to transform our industries and create quality jobs for our people, the tripartite partners will continue to step up help for workers affected by the economic situation to seize new job opportunities through SkillsFuture and Adapt & Grow initiatives amid this ongoing economic transition.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: