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SINGAPORE – Foreigners accounted for nearly nine out of 10 of Singapore’s total employment contraction in the first three quarters of this year, according to the Ministry of Manpower (MOM) labor market report released on Thursday (December 17) .
This was due to a strong rebound in resident employment, namely Singaporeans and permanent residents, the MOM said. Its employment figures do not include foreign domestic workers.
The MOM said other indicators also point to a gradual recovery in the job market, although the number of laid off workers increased in the third quarter compared to the previous three months.
From January to September this year, the total number of working people, excluding foreign domestic workers, fell by 158,700.
Nonresidents accounted for 139,100 of this figure, while resident employment declined by a significantly lower margin of 19,600.
The MOM said the rebound in resident employment in the third quarter offset most of the previous declines for this segment of workers.
Resident employment increased by 43,200 to 2.34 million in September, just 0.4% less than in the same month last year.
Labor Minister Josephine Teo said: “Strong measures to support local employment played a key role in stabilizing the labor market and the employment situation.”
These include the Employment Support Program and guidelines provided by the National Wages Council, which was aimed at preserving a strong core of Singapore across all sectors, he said.
Non-resident employment, excluding foreign domestic workers, continued to decline in the third quarter. The drop of 72,300 was more pronounced than in the first two quarters of the year.
Non-resident employment declines were seen most strongly in construction, manufacturing, transportation and warehousing, and administrative and support services.
But the arts, entertainment and recreation sector also saw a decline in resident employment.
On the other hand, the sectors of public administration and education, health and social services, and information and communications registered increases in the employment of residents.
There was also a rebound in food and beverage services, reversing two consecutive quarters of decline.
Other indicators also point to an improvement in the labor market, with seasonally adjusted unemployment rates still rising in September by 3.6 percent, but at a slower pace than before, the MOM said.
“Residents in their 40s and 50s, and residents with secondary education and below education saw relatively larger increases in their unemployment rates compared to other age and education groups,” the report noted.
More layoffs
The number of layoffs increased to 9,120 in the third quarter from 8,130 in the second quarter.
“This was due to further downsizing in the arts, entertainment and recreation, and industries related to air travel,” the MOM said.
However, layoffs declined in other sectors, such as financial services, wholesale trade, and food and beverage services.
Among resident employees, the incidence of layoffs among professionals, managers, executives and technicians (PMET) increased, from 2.7 to 3.7 laid off per 1,000 PMET employees.
The incidence of non-PMETs remained stable during the quarter, at 4.3 laid off for every 1,000 non-PMET employees.
But Ms Teo cautioned: “We are aware that going forward, we will continue to see downsizing and people making transitions as transformation efforts continue. The challenge for us now is to look ahead and identify priorities for all agencies to work together. “
Manpower Permanent Secretary Aubeck Kam said: “Looking ahead, uncertainties in the economic environment and weak demand will continue to weigh on the recovery in the labor market.
“Covid-19 has also accelerated the pace of business transformation and we have to prepare so that unlike cyclical recessions, some jobs may not return. As such, the labor market recovery may continue well beyond the immediate rebound, but it may remain protracted. “
“For employers, there is a great need to focus on developing the local workforce,” Ms. Teo said, noting that this will also mean the ability to create new and better jobs as companies transform.
She added: “We want job seekers to be more aware of where the opportunities lie and we want to provide strong support for them to transition into new roles and industries.”
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