Q3 unemployment stays at 2%, but total employment grows - Singapore Forums by SGClub.com
Singapore Forums by SGClub.com
Sitemap Contact Us FAQ Singapore Forums by SGClub.com
Home Photos Member List Register Mark Forums Read  
Go Back Home > Lifestyle > Workplace and Business Forum » Q3 unemployment stays at 2%, but total employment grows

Why aren't you a member of SGClub.com yet??

» Join 130,000+ other members in chatting.
» Make lots of new friends here.
» Keep up-to-date with current events.
» Participate in Club outings.
» Download lots of Free Stuff!

Registration just takes 2mins and is absolutely free so join our community today!

I Want to Choose my Own Personal Nickname Now!


Reply
 
LinkBack Thread Tools Display Modes
Old 30th October 2015, 03:14 PM   #1 (permalink)
Experienced SGClubber
evodarren will become famous soon enough

 
Posts: 1,687
Join Date: May 2009
Likes: 11
Liked 17 Times in 17 Posts
Gender:

Q3 unemployment stays at 2%, but total employment grows



THE overall unemployment rate in Singapore remained unchanged at 2 per cent in the third quarter of the year, although it crept up for citizens and residents for the second straight quarter amid softer economic conditions.

According to preliminary estimates for the third quarter released on Thursday by the Ministry of Manpower (MOM) in its latest Employment Situation report, unemployment for Singaporeans went up from 2.9 per cent to 3.1 per cent, while that for residents also inched up from 2.8 per cent to 3 per cent.

An estimated 56,600 residents including 51,100 citizens were unemployed in September. The seasonally adjusted figures were 66,800 for residents and 59,800 for citizens.

Total employment here, however, was higher - an increase of 16,400 in the third quarter - as a result of growth in services and construction. This was a big improvement from the 9,700 jump in the previous quarter and the fall of 6,100 in the preceding one.

There were 3,644,000 people employed as at the end of September - 1.7 per cent higher than a year ago, compared to 2.2 per cent in June 2015.

Taken as a whole, employment growth in the first nine months of 2015 has moderated compared to a year ago, said the report on the country's employment situation produced by the ministry's Manpower Research and Statistics Department.

The numbers come in the wake of the government's advance estimates for third-quarter GDP growth - the Singapore economy grew 1.4 per cent year-on-year, lower than the 2 per cent and 2.6 per cent recorded in the preceding two quarters.

There was also some good news on the redundancies front. MOM shared on Thursday that layoffs in Singapore declined for the third consecutive quarter.

About 2,900 workers were laid off, down from 3,250 in the preceding quarter and 3,500 a year ago.

While services continued to form the bulk of the redundancies (62 per cent), the sector laid off 1,800 workers over the quarter, down from 2,100 three months earlier.

Together with the declines in manufacturing (from 870 to 800), MOM said this more than offset the increase in layoffs in construction (from 230 to 300).

"MOM and the Singapore Workforce Development Agency (WDA) stand ready to help displaced local workers to reskill and upgrade so that they are able to take on new jobs," the ministry said.

Commenting on the MOM report, Citi economist Kit Wei Zheng noted that policymakers may place more weight on the job market for citizens and residents, as opposed to headline job creation.

"Although we sense tepid year-to-date job creation might not materially undershoot MAS (Monetary Authority of Singapore) expectations, policymakers will likely pay close attention to the rise in the politically sensitive citizen unemployment rate. That said, MAS still expects wage growth to pick up, though possibly unevenly across sectors," he said.

Jaya Dass, country manager in Singapore at recruitment and human resources specialist firm Randstad, said the weaker global economy, coupled with the recent slowdown in China, has left an impact on Singapore's economic and unemployment conditions.

"While the overall unemployment figures have remained consistently low, the slight rise in unemployment among residents and citizens for the second consecutive quarter outlines the importance for job seekers to maintain and develop their skills," she said.

"It is increasingly vital that job seekers, as well as current employees, constantly update their skills and industry knowledge. To ensure they remain competitive in their industry, employees should take advantage of their company's internal training programmes or sign up for relevant external courses," Ms Dass added.

Femke Hellemons, country manager at recruitment firm Adecco Singapore, said the ongoing tight labour market means that most companies will likely continue to face tough competition when hiring top talent.

"We have more jobs available than job seekers in the Singapore workforce. Apart from asking for higher salaries, workers are looking for the most attractive offers, which often include better training, more flexibility, additional days off, improved medical care and better career prospects," she said.

She felt that the labour market in 2016 would be "healthy", with a higher demand for skills, especially in the engineering, supply chain, IT, audit and retail sectors.

"We expect employment growth, with good job opportunities and higher salaries for those individuals with skills and experience in most demand. More efforts should be made to sustain productivity improvement especially in domestic-oriented services," said Ms Hellemons.

- See more at: http://business.asiaone.com/news/q3-....onSatAOc.dpuf

Sponsors:
evodarren is offline  
Add to evodarren's Reputation Reply With Quote
Old 30th October 2015, 07:49 PM   #2 (permalink)
Experienced SGClubber
christmas_ has a brilliant futurechristmas_ has a brilliant futurechristmas_ has a brilliant futurechristmas_ has a brilliant futurechristmas_ has a brilliant futurechristmas_ has a brilliant futurechristmas_ has a brilliant future

 
christmas_'s Avatar
 
Posts: 80,385
Join Date: Nov 2008
Likes: 924
Liked 523 Times in 453 Posts
Gender:

Re: Q3 unemployment stays at 2%, but total employment grows

All I know is, we nearly went into a technical recession

__________________


christmas_ is offline   Add to christmas_'s Reputation Reply With Quote
Old 30th October 2015, 11:39 PM   #3 (permalink)
Experienced SGClubber
sunnyncool is a jewel in the roughsunnyncool is a jewel in the rough

 
Posts: 5,325
Join Date: Dec 2010
Likes: 9
Liked 113 Times in 98 Posts
Gender:

Re: Q3 unemployment stays at 2%, but total employment grows

Total employment here, however, was higher - an increase of 16,400 in the third quarter - as a result of growth in services and construction. This was a big improvement from the 9,700 jump in the previous quarter and the fall of 6,100 in the preceding one.
This means jobs created went to foreigners instead of Singaporeans!

sunnyncool is offline   Add to sunnyncool's Reputation Reply With Quote
Reply

Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
Total employment, productivity down in first half of 2015 BeautyConscious International & Singapore News 0 17th September 2015 02:00 AM
Job market stays tight as unemployment declines *StarDust* Workplace and Business Forum 2 8th November 2013 05:42 PM
Total employment rose by 36,500 in 2010 Q1: MOM devil2000 Workplace and Business Forum 7 16th June 2010 12:02 PM
Total employment rises for first time this year *StarDust* Workplace and Business Forum 1 31st October 2009 05:20 PM
Unemployment rises at fastest rate for 17 years with jobless total 'set to hit 2 mil. by Christmas' sgelite International & Singapore News 0 15th October 2008 07:06 PM

» Sponsors
Watch Free Movies Online
Celebrity Gossip
Food Delivery

» Facebook Fans
» What's Going On?
Title, Username, & Date
Increased GST needed to support rising expenditures
Inspirational Songs
Aoki Hagane no Arpeggio: Ars Nova
Post anything random on this thread.
Windows 10 - Modern Setup Host Has Stopped - Help Needed
More than 75 per cent of Singaporeans support Hong Kong protests: Survey
Stamford Catering's food hygiene grade cut to 'C' after 52 people fall ill
Several Myanmar nationals arrested for supporting armed violence, will be deported: MHA
Ler Teck Siang allegedly advertised drug injection services on Grindr with profile name...
2 batches of Crottin De Pays goat cheese recalled: Singapore Food Agency
A2 App Performance microSD Review
Singapore bans bottled water from Malaysia's Malee Mineral Water after bacteria found
Your Bones Are Getting Weaker, Here's How to Keep Them Healthy
Police warn of fake police officer who tries to get ATM card details through video call...
HSA warns against using 4 skin creams for diaper rash, eczema after baby hospitalised
5 things you should know about food poisoning
How to Answer The 64 Toughest Interview Questions
Completed Reservist Cycle and Get A Damn Watch
eoqrbjcz
is $40 expensive for hair and makeup by a professional at my place?
Featured Photos
by marisoljames322
· · ·
Member Galleries
20359 photos
13619 comments
by marisoljames322
· · ·
Member Galleries
20359 photos
13619 comments
by pdsubbu
· · ·
Member Galleries
20359 photos
13619 comments
by Vikas Dhar
· · ·
Photography
35 photos
36 comments
by aaudreygan
· · ·
Guy Photos
1581 photos
946 comments
by aaudreygan
· · ·
Girl Photos
4352 photos
26065 comments
by a8paris
· · ·
Guy Photos
1581 photos
946 comments
by a8paris
· · ·
Guy Photos
1581 photos
946 comments
by aaricia
· · ·
Girl Photos
4352 photos
26065 comments
by aaricia
· · ·
Girl Photos
4352 photos
26065 comments

 

All times are GMT +8. The time now is 12:07 PM.


Powered by vBulletin
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Copyright© 2004-2013 SGClub.com. All rights reserved.