Singapore's jobless rate rises 2.1% in June
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By Imelda Saad | Posted: 29 July 2011 1024 hrs
SINGAPORE: Singapore's unemployment rate rose to 2.1 per cent in June from 1.9 per cent in March as employment growth slows and graduates enter the job market.
The latest statistics show the labour market easing but experts said that's not surprising, given the phenomenal economic growth Singapore saw last year.
Total employment grew by 22,800 in Q2 - about 20 per cent lower compared to the previous quarter of 28,300.
Services led the growth with jobs gains within the retail, F&B and hospitality industries.
1,900 workers were laid off - some 30 per cent less compared to the previous quarter's 2,750.
But unemployment rose slightly. The unemployment rate for residents rose by 0.3 percentage point to 3 per cent from the previous quarter.
An estimated 62,700 residents (seasonally adjusted figure) were unemployed in June.
"The falloff in job creation overall is I think, reflective of the slight moderation in the economy and to be honest, when we compare to the stellar growth last year, it's quite unrealistic to expect that to continue. And probably it's good to have it ease off somewhat because a lot of people do find that the labour market is actually very tight. So this would mean in terms of companies, in terms of the hiring opportunities, it would be probably slightly better for them," said Brigadier-General Tan Chuan-Jin, Minister of State for Manpower.
Some HR experts though said the labour market remains tight - with more jobs on offer than workers.
Industry watchers said one of the main problems lie in a mismatch of skills set.
"Definitely there will be people still looking at increasing of headcount. However they'll be looking for people with specific skills set which makes hiring a bit more challenging in that sense," said Jurcannie Yeong, Senior Marketing & Communications Executive at Manpower Staffing Services.
A survey by Manpower Staffing show 44 per cent of employers in Singapore reportedly having difficulty filling job vacancies due to the lack of suitable talents. That's compared to the global average of 34 per cent.
The firm said employers are finding it tough filling in positions such as sales representatives, engineers and technicians. The most common reasons cited is lack of experience and lack of technical or "hard" skills - which simply means, training and re-skilling remain the key to landing a job.
As for wages, experts said it will remain stable at least for now. That because companies will pay a premium for talent.
Real average monthly earnings rose by 3.2 per cent in the first quarter of this year. And with hiring expectations remaining strong, experts said wages are likely to grow between 4 and 8 per cent this year.
- CNA -
surpise surpise, i am not surprise!
too many people in an island liao lah
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I think they included PRs into the calculation of the statistics. So maybe the actual jobless rate is higher.
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"The firm said employers are finding it tough filling in positions such as sales representatives, engineers and technicians. The most common reasons cited is lack of experience and lack of technical or "hard" skills - which simply means, training and re-skilling remain the key to landing a job."
The above means employers are not willing to train a newcomer from start. They wanted only readily-trained or experienced candidates. If all employers have this attitude, no wonder there will be "lack of talents" as all experienced employees are already promoted to managers/supervisors. -
this means treasure your job till the coast is clear for another job
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Most employers are stingy and unwilling to train newbies, only want experienced and trained employees (who left sg for better jobs overseas or promoted to managerial levels already).
Keep up this petty and stingy attitude, sooner or later, Singapore will be a desert of talents.
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ya, these employers ai-ch'Ä©Ä©-ai-ph'Ä©Ä© one, too bad
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Maybe one day too many FTs, Singapore sink. Joking haha lol.
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Originally posted by Blacktron:
Maybe one day too many FTs, Singapore sink.
Joking haha lol.
1.5mil PRCs + others = everything is sinking incl FTs.
