| |
| |
 |
| |
|
| |
|
| |
|
SINGAPORE: There are more signs that the labour market is showing a turnaround. Employment in Singapore rebounded from two straight quarters of losses to register a gain of 14,000 in the third quarter.
Data released on Tuesday by the Ministry of Manpower (MOM) showed that the gains have offset the losses in the preceding two quarters. This resulted in total employment in September recovering to around the December 2008 level.
Also, significantly fewer workers were made redundant and job vacancies increased for the second straight quarter.
2,470 workers were made redundant in the quarter ended September, as compared to 5,980 workers in June, and 12,760 at the beginning of the year.
There were 34,900 job vacancies in September, up 42 per cent from June, but still below 36,000 a year ago.
The services sector added the most number of jobs, with 12,700 posts created, significantly higher than the 3,800 gain in the second quarter of this year. Construction also expanded at a faster pace than in the previous quarter, with 7,400 jobs created.
However, the manufacturing sector continued to see 6,400 job losses, though the number of jobs lost in the industry were substantially lower than in the first two quarters of this year - 22,100 in March and 15,900 in June.
Overall, the seasonally adjusted overall unemployment rate rose slightly to 3.4 per cent in September from 3.3 per cent in June.
Among the resident labour force, the rate increased to five per cent in September. MOM said this followed the decline from the previous two quarters when some residents deferred their job search and pursued courses amid the difficult job market.
But the improving economy may have also attracted some of these residents back into the labour market, adding to the pool of job seekers.
The ministry added that there may be a skills or expectations mismatch between those looking for work and the type of jobs available. This could also push up the unemployment rate.
Figures also showed more residents being re-employed. 50 per cent of resident job seekers who were retrenched in the second quarter were re-employed within three months - an improvement from 43 per cent in the previous quarter.
In all, close to 84,000 residents were unemployed in September this year.
Long-term unemployment has also worsened, as it takes longer for job seekers to find employment amid cautious hiring sentiments during the downturn.
The number of resident job seekers who had been looking for work for at least 25 weeks almost doubled from 9,600 last September to 18,400 in September this year.
Although the economic outlook has improved and total employment grew in the third quarter, Minister of State for Manpower and Trade and Industry, Lee Yi Shyan, said the unemployment rate is likely to stay up for some time.
That is because employers remain cautious about the pace and sustainability of recovery.
Mr Lee added that the government remains focused on job creation and training. He urged those who are unemployed to retrain and re-skill so that they can find a job as quickly as possible.
However, some industry observers said that job applicants are also taking their time.
Roger Olofsson, Robert Walters' associate director for information technology, said: "Even if you're unemployed, if you're not in a desperate situation, with the constant news feeds coming through that the market is recovering and we're seeing signs of that, the sense of desperation is perhaps not as high as it was nine months ago."
There may be some reason to wait. Figures showed that those who have jobs saw real earnings fall for the sixth consecutive quarter. They slid 2.6 per cent in September, compared to a drop of 1.8 per cent in June. Real earnings in the first quarter of 2009 fell 5.8 per cent.
Tim Hird, managing director of HR consultancy Robert Half Singapore, believes that as the economy improves, employees are likely to pressure companies for pay increases, bonuses or better compensation packages next year. The increases, he said, could be as much as 25 per cent for those whose skill sets are in high demand.
- CNA/yb/ir
|
