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Chitchat Unemployment and Layoffs rises among Singapore citizens in Q2
- Thread starter yahoo55
- Start date
Unemployment rate rises, lay-offs at 7-year high
THE labour market is showing more signs of strain, as unemployment climbed in the second quarter of the year and lay-offs hit a seven-year high.
The seasonally adjusted unemployment rate for Singaporeans and permanent residents combined was 3 per cent last month, up from 2.7 per cent in March and the highest since the end of 2010.
Figures released by the Ministry of Manpower (MOM) yesterday also showed the unemployment rate for Singaporeans rose to 3.1 per cent last month, from 2.6 per cent in March. An estimated 68,300 residents - of whom 60,300 are citizens - were out of work last month.
Overall, unemployment was at 2.1 per cent last month.This is higher than the 1.9 per cent three months earlier but below the 3.3 per cent after the global financial crisis in 2009.
"It looks like the uncertain global and regional outlook has taken its toll on Singapore, at the same time as economic restructuring is taking place," said labour MP Patrick Tay, who chairs the Government Parliamentary Committee for Manpower.
Lay-offs have gone up.
About 5,500 workers were laid off in the second quarter - a nearly 70 per cent increase compared with the same quarter last year.
The redundancies were largely in the services sector, where 3,400 workers lost their jobs.
Mr Tay said he is worried about mature professionals, managers and executives who usually take longer to bounce back after becoming unemployed.
DBS economist Irvin Seah said there is a risk that the full year's numbers could eclipse last year's high of 15,580, which was the highest since the global financial crisis, as there have already been 10,210 lay-offs in the first half of this year.
"Unemployment could continue to climb and there could be a broader impact on consumer spending such as car and home purchases and retail businesses," he added.
See more at: http://business.asiaone.com/news/unemployment-rate-rises-lay-offs-7-year-high#sthash.xQxogPEA.dpuf
THE labour market is showing more signs of strain, as unemployment climbed in the second quarter of the year and lay-offs hit a seven-year high.
The seasonally adjusted unemployment rate for Singaporeans and permanent residents combined was 3 per cent last month, up from 2.7 per cent in March and the highest since the end of 2010.
Figures released by the Ministry of Manpower (MOM) yesterday also showed the unemployment rate for Singaporeans rose to 3.1 per cent last month, from 2.6 per cent in March. An estimated 68,300 residents - of whom 60,300 are citizens - were out of work last month.
Overall, unemployment was at 2.1 per cent last month.This is higher than the 1.9 per cent three months earlier but below the 3.3 per cent after the global financial crisis in 2009.
"It looks like the uncertain global and regional outlook has taken its toll on Singapore, at the same time as economic restructuring is taking place," said labour MP Patrick Tay, who chairs the Government Parliamentary Committee for Manpower.
Lay-offs have gone up.
About 5,500 workers were laid off in the second quarter - a nearly 70 per cent increase compared with the same quarter last year.
The redundancies were largely in the services sector, where 3,400 workers lost their jobs.
Mr Tay said he is worried about mature professionals, managers and executives who usually take longer to bounce back after becoming unemployed.
DBS economist Irvin Seah said there is a risk that the full year's numbers could eclipse last year's high of 15,580, which was the highest since the global financial crisis, as there have already been 10,210 lay-offs in the first half of this year.
"Unemployment could continue to climb and there could be a broader impact on consumer spending such as car and home purchases and retail businesses," he added.
See more at: http://business.asiaone.com/news/unemployment-rate-rises-lay-offs-7-year-high#sthash.xQxogPEA.dpuf
I always have a good laugh whenever I read such news about the retrenchments taking place in your country.
During the last General Elections, your Chief Natural Aristocrat threatened Sinkies that if they didn't vote his PAP into office, Sinkie economy would tank and countless Sinkies would be jobless.
Can someone explain to me how is it that Sinkies voted PAP to power at GE 2015 and they still have to face the brunt of layoffs and retrenchments?
Smart bros on this forum, please help me understand why your Prime Ministar and cabinet ministars, some of whom are President's Scholars, Colombo Plan scholars, PSC scholars, SAF Overseas Merit Scholars, what-the-fcuk scholars, are unable to shield Sinkies from layoffs and retrenchments?
Who say cannot shield? You see any ministers and scholars laid off bo?
I was referring to ordinary Sinkies, that is, Sinkie peasants who live from pay check to pay check.
Your ministars belong to the category called natural aristocrats while the scholars belong to the elite.
Didn't you know there's a caste system in your country?
THE labour market is showing more signs of strain, as unemployment climbed in the second quarter of the year and lay-offs hit a seven-year high.:(:(:(
Strain is a understatement, with the Swiber thingy that employed at least 2700 employees and those related industries and down line industries.....It's going to be worse in the third quarter.
More PMETs going to be unemployed. The usual chorus will come in, retrain, repackage.......blah blah blah........
While there are countless FTs among Singaporeans.........
Really that bad that Singaporeans armed with their degrees from the NTU, NUS or SMU, Diplomas from the local polytechnics.....cant be compared and hold their own then to those from Philipines, India, China, etc......
What's the point of raising those passes levy or passes minimum scale. It does not go to the unemployed PMETs. It does not pit food on the table, it does not pay for their children school fees........
Its is indeed sad for the children of Singaporeans, seeing that the government can't even protect their own citizen, what more their citizen's children, so called future of Singapore.......
Seeing how their parents fight over their finances, while he/she must be wondering why are the FTs family over here living the good lives........
Just look at your C PEE F statement and feel rich, hor!
I am trying to understand that too..i am feeling perplexed about this..
This is what they have voted for. I am going to say this again. Stupid sinkies.
Silly man la you. When shielding, there are those who are shielded and those who are used as shield. So simple you dunno? You must be the shield. Teehee!
I look at the silver lining. These unemployed may become future opposition supporters
I don't see it that way. They might try even harder so as to get a chance to become grasssrooters. Later can get government related projects to loot Huat Huat to the bank, make enough so can later run road to Angmo countriesz
They can go bedok reservoir & become hungry ghosts....
No lah. Seeing how median income has risen steadily over the years, more retired sinkies are now looking for jobs. This artificially increases unemployment rate. No need to worry sir.
It means the retired can't make it without an income. Lagi bad.
60000 citizens are jobless. Meaning 60000 x 4 per household = 240,000 people livelihoods affected.
240,000 is equivalent to approximately Ang Mo Kio GRC. 70% pap dogs song bo.
240,000 is equivalent to approximately Ang Mo Kio GRC. 70% pap dogs song bo.
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