Employment Growth Slowing Due To Strong Opposition Showing & Lack Of Foreign Talents!. With the strong presence of the Opposition in the Parliament posing a hindrance to our govt and the slowdown in the imports of Foreign Talents into Singapore, the MAS has forecasted that Employment Growth will slow, especially for poor and stupid Singaporean peasants, who also happens to be the the Opposition's staunchest supporters! God, I really hate poor and stupid Singaporean peasants!
Employment growth slowing in 2011: MAS
Posted: 27 October 2011 1322 hrs
SINGAPORE: The Monetary Authority of Singapore (MAS) said employment growth is expected to slow further this year as the economy cools.
The MAS noted that certain sectors such as financial and trade-related services have already scaled back hiring. It said this may intensify and broaden across more industries in the next few quarters.
"The financial services and trade-related sectors turned more cautious in hiring in H1 2011. The financial market uncertainties and more evident signs of weakening global growth are likely to further dampen employment prospects in these sectors," the central bank said it its October Macroeconomic Review.
It predicts that job cuts will persist in electronics, while other areas of manufacturing such as precision engineering, "could also start to reduce hiring or cut staff."
MAS said the pullback is expected to relieve the short term tightness in the labour market and bring wage growth down closer to its historical average.
However the central bank notes that certain sectors could still face tight labour supply due to changes in foreign worker policy.
This could include the construction and services sectors.
Singapore's unemployment rate rose to 2.1 per cent in the three months ended June, 2011, from 1.9 per cent the previous quarter.
- CNA/ck
Employment growth slowing in 2011: MAS
Posted: 27 October 2011 1322 hrs
SINGAPORE: The Monetary Authority of Singapore (MAS) said employment growth is expected to slow further this year as the economy cools.
The MAS noted that certain sectors such as financial and trade-related services have already scaled back hiring. It said this may intensify and broaden across more industries in the next few quarters.
"The financial services and trade-related sectors turned more cautious in hiring in H1 2011. The financial market uncertainties and more evident signs of weakening global growth are likely to further dampen employment prospects in these sectors," the central bank said it its October Macroeconomic Review.
It predicts that job cuts will persist in electronics, while other areas of manufacturing such as precision engineering, "could also start to reduce hiring or cut staff."
MAS said the pullback is expected to relieve the short term tightness in the labour market and bring wage growth down closer to its historical average.
However the central bank notes that certain sectors could still face tight labour supply due to changes in foreign worker policy.
This could include the construction and services sectors.
Singapore's unemployment rate rose to 2.1 per cent in the three months ended June, 2011, from 1.9 per cent the previous quarter.
- CNA/ck
