[ad_1]
– Advertising –
Singapore: The latest labor market report from the Ministry of Manpower (MOM) showed that foreigners accounted for nearly nine out of ten of the total contraction in employment during the first three quarters of this year.
However, this figure excludes foreign domestic workers. Also, things are looking up for resident employment, which the report said has seen a “strong rebound.”
That the vast majority of the total employment contortion involved foreign workers was the report’s key observation, which affirmed a previous assessment made in the Labor Market Progress Report that signs of improvement can be seen in the third quarter of 2020.
MOM’s labor market report, released Thursday, December 17, showed that while the total number of people employed in Singapore still fell in the third quarter of the year, it occurred in a markedly slower place.
Employment of residents has risen to levels close to what they were before the pandemic, with 2.34 million people employed.
MOM said this “strong rebound in resident employment” in the third quarter “offset most of the declines we saw in the first two quarters of the year.”
The report, released by MOM’s Department of Research and Statistics, said the rebound in employment for Singaporean residents is a reflection of strong local employment support measures, including the Employment Support Program and programs of the SGUnited Skills and Jobs Package.
– Advertising –
However, the third quarter of 2020 did not bring good news for non-residents, whose employment decreased in this period at an even faster rate than in the first and second quarters of the year.
MOM’s labor market report also outlined other indicators that showed a rebound in labor market activity, including:
“Significantly less” workers placed on a short work week or temporary layoff in the third quarter of the year (34,240) compared to the previous quarter (81,720).
An increase in average paid hours worked from 43.4 hours per week in June 2020 to 43.8 hours in September 2020, which the report says is indicative of more overtime hours served.
An increase in job vacancies for the first time in 2020, to 49,600 in September this year. This has led to an improvement in Singapore’s vacancy to unemployed ratio, from 0.60 to 0.57 in Q2 to Q3.
At the conclusion of the report, it was warned that “the recovery of the labor market may remain prolonged beyond the immediate rebound.” However, the National Employment Council will continue to focus on matching local job applicants to available openings, as well as providing them with new skills as needed. Almost 60,000 locals had been matched with jobs by the end of October.
Another boost to local employment has been the S $ 1 billion Job Growth Incentive, which provides up to 50 percent salary support for eligible new local employees from September 2020 to February 2021.
Finally, it will be much more convenient for job seekers since Workforce Singapore (WSG) established SGUnited Job and Skills Centers in all HDB cities, as well as implemented mobile Careers Connect On-the-Go (CCOTG) to bring career guidance services closer to where people are. Sites like MyCareersFuture.gov.sg they also provide resources to help job seekers. – / ITGS
Also read: SM Tharman: Jobs will remain a challenge for the next year and possibly more
SM Tharman: Jobs will continue to be a challenge for the next year and possibly more
Follow us and like:
– Advertising –
[ad_2]
