Job vacancies in Singapore hit document excessive of 92,100 in June: MOM

Job vacancies in Singapore hit document excessive of 92,100 in June: MOM

SINGAPORE (The Strait Occasions/Asia Information Community): Border restrictions and manpower demand in progress sectors have pushed job vacancies in Singapore to an all-time excessive of 92,100 in June, in line with the Ministry of Manpower on Wednesday (Sept 15). There have been 163 job openings for each 100 unemployed individuals in June. The ratio of job vacancies to unemployed individuals elevated to above one for the primary time since March 2019. These are seasonally adjusted figures. “The continuing border restrictions have affected the provision of manpower in development and manufacturing,” stated the MOM. “There was additionally sustained demand in progress sectors like monetary and insurance coverage companies, skilled companies, and knowledge and communications.” In the meantime, resident unemployment continued to ease within the first half of this yr, MOM’s second-quarter labour market report confirmed. General, seasonally adjusted unemployment charges had been at 2.7 per cent in June this yr, persevering with a downtrend. The seasonally adjusted resident long-term unemployment price additionally dipped to 0.9 per cent in June, from highs recorded in December final yr and March this yr (1.1 per cent). The labour market efficiency stays uneven throughout sectors, with sectors similar to meals and beverage (F&B) companies seeing a short lived easing of demand, resulting in an total rise within the variety of staff who had been positioned on brief work weeks or short-term layoffs. However such consumer-facing sectors, together with F&B in addition to retail commerce, ought to begin to get well as home restrictions are eased over the course of the yr. Nevertheless, these sectors aren’t anticipated to return to pre-Covid-19 ranges because of the subdued tourism outlook, the ministry cautioned. Tourism- and aviation-related sectors additionally continued to be impacted by Covid-19 and are recovering at a slower price. MOM stated these sectors are “projected to see a sluggish restoration as journey restrictions globally are prone to be lifted cautiously and world journey demand may additionally stay sluggish amidst the unfold of extra contagious strains of the virus”. It added that exercise in these sectors is predicted to stay considerably under pre-Covid-19 ranges even by the top of the yr. Quarterly, the variety of retrenchments rose barely from 2,270 within the first quarter this yr to 2,340 within the second quarter, amid the part two (heightened alert) measures. Everlasting Secretary for Manpower Aubeck Kam advised reporters in a briefing on Wednesday that the retrenchment figures nonetheless stay throughout the pre-pandemic quarterly vary. There’s some concern for mature staff, he famous, with the unemployment price rising for residents of their 40s and in addition residents with diploma {qualifications}. “However within the second quarter, the charges of retrenched staff who re-entered the workforce, rose for all age teams under 50,” Kam stated. It additionally rose for individuals who had been beforehand retrenched from clerical gross sales and repair work, and in addition for individuals who held diploma {qualifications}. Ang Boon Heng, director of MOM’s manpower analysis and statistics division, stated that unemployment typically impacts older staff. However he famous that the unemployment charges for these aged 40 to 49 fell from 4.1 per cent in December final yr to three.2 per cent in March this yr, earlier than rising once more to three.7 per cent in June. “We have now to observe this and see whether or not it varieties a pattern or it is simply these little fluctuations that we see… I would not make an excessive amount of of this (unemployment charges for these aged 40-49) except there’s a broader enhance throughout all age teams.”

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