The number of retrenchments in the second quarter surpassed the 5,510 retrenchments in the second quarter of 2003 amid the SARS outbreak. It remained below the peak of 12,760, recorded the first quarter of 2009, during the global financial crisis. Moving forward, a key factor to watch is the Jobs Support Scheme which provides wage support until August, noted Ms Selena Ling, OCBC Bank's Head of Treasury Research and Strategy. Retrenchments more than doubled in the second quarter to 6,700, from 3,220 in the previous quarter. Below is a chart for all countries where data are available. The response from companies to provide traineeship positions for new and recent graduates under the SGUnited Traineeships Programme has been "very strong", it said. “Employers must redesign jobs so that we can make the best use of the skills of our people, make full use of all the tools that we’ve put out under our industry transformation maps ... when the COVID-19 situation passes they will emerge stronger," Mr Heng said. related media assets (image or videos) available. On the other hand, employers should take in people who are willing to pick up new skills and adapt, rather than just focus on hiring the perfect fit. Click to see the gallery.
Employment contraction in manufacturing was "more modest in comparison", the ministry added. These positions will be extended to mid-career individuals as attachments under the SGUnited Mid-Career Pathways Programme. SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more than doubled and total employment declined amid the COVID-19 pandemic. Copyright© Mediacorp 2020. The Government is also trying to move forward hiring plans in the healthcare and early childhood education sectors, the Manpower Minister said. This page displays a table with actual values, consensus figures, forecasts, statistics and …
Download our app or subscribe to our Telegram channel for the latest updates on the coronavirus outbreak: https://cna.asia/telegram. "From Aug 1, mid-career individuals can start applying for the 13,000 available attachments, with more opportunities coming online," said MOM. "One key milestone to watch will be the upcoming expiry of the Jobs Support Scheme in August and a calibrated extension to provide longer support for a longer period of time given the long tail nature of the Covid-19 pandemic cannot be discounted," she said. Azlan Othman The latest labour force survey in Brunei Darussalam showed that the unemployment rate hit 8.7 per cent in 2018. This service is not intended for persons residing in the EU. MOM warned that the external economic environment remains weak and some countries are experiencing a second wave of COVID-19 infections.
Manpower Minister Josephine Teo said during a press briefing on Wednesday that the fall in employment was “broad-based” and expected, with the circuit breaker period in the second quarter of this year. Resident unemployment rate – Singaporeans and permanent residents – rose to 3.9 per cent in the second quarter from 3.3 per cent in the preceding quarter, while the unemployment rate of Singaporeans increased from 3.5 per cent to 4 per cent. “And then going beyond this, we have to look at how the Singapore economy emerges stronger post COVID-19.”. Unemployment rates are higher in Southern Asia and Eastern Asia, but only in Eastern Asia is the rate projected to increase slightly by 2020. The indicator is available from 1991 to 2019. Although this was down from 9.3 per cent in 2017, it was still the highest unemployment rate in Southeast Asia. The drop was felt across the three broad sectors of manufacturing, services and construction, MOM said.
Mr Heng, who was visiting a public career coaching centre in Bedok, said jobseekers need to "change our mindsets" about suitable jobs, in the current job landscape. Singapore implemented a "circuit breaker" from Apr 7 to Jun 1 to curb the spread of COVID-19, and began a phased reopening of its economy on Jun 2. It entered Phase 2 of the reopening on Jun 19. Unemployment in the U.S., the …
Although some companies have resumed activities, they may ask existing employees to take on more responsibilities, Mrs Teo added.
Singapore is in the midst of a technical recession, after its economy contracted by two consecutive quarters in the first half of this year. Within the services sector, the contraction was sharpest in food and beverage services, retail trade, arts, entertainment and recreation, and education.
Construction also saw a steep decline in employment.
The Philippines is seen booking the highest unemployment rate in Southeast Asia, with about eight million Filipinos expected to lose their jobs as … This was highlighted recently by the Asia Development Bank (ADB), in its Asian Development […] “In the immediate (term) we will have to look at how we can continue to protect the livelihoods of our workers, how do we create jobs and training opportunities – that is the top priority at this stage," said Mr Heng, who is also Finance Minister. Total employment, excluding foreign domestic workers, fell by 121,800, more than four times the decline in the first quarter. On Wednesday, Deputy Prime Minister Heng Swee Keat said the authorities are discussing further steps it needs to take to help the situation, and that details will be announced soon. SOFT LABOUR MARKET LIKELY TO PERSIST: ANALYSTS. Mediacorp Pte Ltd. All rights reserved. These efforts are now coordinated through the National Jobs Council," says MOM. This brought the total employment decline since the start of 2020 to 147,500. “Conditions for travel-related sectors remain very challenging. The Government is aware that the construction, marine and process industries need support due to the safe management measures required at the worksites, she added. SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more … Overall unemployment rate hit 3.3 per cent in the third quarter of 2009, during the global financial crisis, and 4.8 per cent in the third quarter of 2003, amid the severe acute respiratory syndrome (SARS) outbreak. For smaller construction firms, Mrs Teo said the ministry is working with the Building and Construction Authority to “hand hold these companies, clear all the processes progressively and try to minimise the number of bottlenecks that they will face”. The overall unemployment rate rose to 2.9 per cent from 2.4 per cent in the preceding quarter, while total employment (excluding foreign domestic workers) plunged more than four-fold, preliminary data from the Ministry of Manpower (MOM) on Wednesday (Jul 29) showed. The highest and lowest unemployment rates in the world vary dramatically, even among the world's largest economies.
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