S'pore jobless rate lowest in three years
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SINGAPORE: Singapore's total employment grew by 23,700 in the first quarter of this year, thanks to the healthy economic expansion. This is according to preliminary estimates released by the Manpower Ministry on Friday.
Still, the increase is lower than the seasonal high of 33,900 in the fourth quarter last year and the 36,500 gains in the first quarter last year.
Last year's strong showing was supported by the strong hirings arising from the integrated resorts and the recovery from the 2009 recession.
The bulk of the employment gains in the first quarter or 22,800 jobs came from the services sector. Construction added 1,100 workers, while manufacturing employment declined by 500, lower than the contraction of 1,200 in the preceding quarter.
In the same period, some 2,600 workers were retrenched and 400 had their contracts terminated prematurely, resulting in a total of 3,000 workers made redundant. This is compared to 3,190 redundancies in the preceding quarter.
The manufacturing sector reported the largest number of redundancies affecting 1,600 workers. Services laid off 1,000 and construction displaced 400 workers.
The overall unemployment rate fell to 1.9 per cent in March 2011 from a seasonally adjusted 2.2 per cent in December 2010, reflecting the tight labour market here.
"The three-year dip in unemployment signals the tight labour market shows no signs of abating. Companies will need to ensure they have robust, planned people strategies to help deal with the strengthening market, which is proving to be the biggest human capital challenge currently facing Singapore's economy," said Ms Karin Clarke, Randstad Regional Director for Singapore & Malaysia.
Analysts said the services sector has benefited from Singapore's strong reputation as a regional centre for multinational companies - with the financial services, oil & gas and healthcare sectors pushing hiring demand.
"There will be continued competition for talent as companies seek to employ the best people to drive their business forward in 2011," said Ms Clarke.
Among the resident labour force, the unemployment rate declined to 2.7 per cent from a seasonally adjusted 3.1 per cent in the same period.
Both the overall and resident unemployment rates are the lowest in three years. An estimated 57,100 residents were unemployed in March 2011 on a seasonally adjusted basis.
-CNA/ac/cc -
Total employment grew by 23700. So is it 23699 jobs to foreigners and PRs and 1 job to the singaporean?
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Originally posted by Rock^Star:
Total employment grew by 23700. So is it 23699 jobs to foreigners and PRs and 1 job to the singaporean?
How can Singaporeans survive on a $600 a month job with the cost of living as it is in Singapore?
How?
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flaw 1: we must define clearly the policy of attracting foreign talent, and cheap labor.
flaw 2: we must define clearly how many jobs goes to SINGAPOREANS
flaw 3: we must define how the foreign LABOR policy be tweaked and fine tuned so that majority of SINGAOREAN benefit from it.
flaw 4: we must define claerly with reports that attracting CHEAP labor (not foreign talent) is helping SINGAPOREANS create job, or helping SINGAPOREANS to create JOBS for CHEAP FOREIGn LABOR.
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Originally posted by troublemaker2005:
flaw 1: we must define clearly the policy of attracting foreign talent, and cheap labor.
flaw 2: we must define clearly how many jobs goes to SINGAPOREANS
flaw 3: we must define how the foreign LABOR policy be tweaked and fine tuned so that majority of SINGAOREAN benefit from it.
flaw 4: we must define claerly with reports that attracting CHEAP labor (not foreign talent) is helping SINGAPOREANS create job, or helping SINGAPOREANS to create JOBS for CHEAP FOREIGn LABOR.
Like the HDB flat issue, this comes under the "No debate" category.
Just like every other issue.
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We have 5 millions in Singapore, only 2.5 millions can vote. So the other half do what in Singapore ? How do 2.5 million foreigners create jobs for the other 2.5millions /
And the target is 7 millions after this election.
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singapore is about 682.7 sq km in land area.
with population of 5mil (consisting of a better half foreigners)
682.7 / 5 000 000 = 0.00013654 sq km (or 136.54sq m)
put average one person over a 136.54 sqm grid area in theory to fill up the land.
but minus away all the ulu reserve area yes singapore is indeed crowded, like overdue stinking sardines in a can of worms during peak hours in MRT and bus rides