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http://www.channelnewsasia.com/stories/singaporelocalnews/view/424582/1/.html
11 out of every 1,000 workers retrenched in 2008, double that 2007
By Channel NewsAsia | Posted: 24 April 2009 1237 hrs
Photos 1 of 1
SINGAPORE: Eleven out of every 1,000 employees were laid off last year, nearly double the 6.0 per 1,000 in 2007.
Still, numbers are below the highs hit in 1998 during the Asian financial crisis, which saw 33 retrenched per 1,000, as well as the 2001 economic downturn at 26 per 1,000.
The absolute number was 16,880 for the whole year.
The Manpower Ministry (MOM) said Friday that the redundancies were in all occupational groups - Professionals, Manager, Executives and Technicians saw a rise in their share from 31 per cent in 2007 to 37 per cent last year.
Conversely, the proportion fell from 56 to 52 per cent for production and related workers, and from 13 to 11 per cent for clerical, sales and service workers.
However, production and related workers still had the highest incidence of redundancy.
The rate of layoffs for foreigners also went up 153 per cent from the year before, and their share of total redundancies rose to a new high of 39 per cent.
However, re-employment picked up - seven in ten locals retrenched in the third quarter of last year were re-employed by the end of the year, higher than the 62 per cent the quarter before.
The MOM said this was probably because of more realistic expectations given the weak job market, although degree holders were the only ones whose re-employment rate went down.
- CNA/yb
11 out of every 1,000 workers retrenched in 2008, double that 2007
By Channel NewsAsia | Posted: 24 April 2009 1237 hrs
Photos 1 of 1
SINGAPORE: Eleven out of every 1,000 employees were laid off last year, nearly double the 6.0 per 1,000 in 2007.
Still, numbers are below the highs hit in 1998 during the Asian financial crisis, which saw 33 retrenched per 1,000, as well as the 2001 economic downturn at 26 per 1,000.
The absolute number was 16,880 for the whole year.
The Manpower Ministry (MOM) said Friday that the redundancies were in all occupational groups - Professionals, Manager, Executives and Technicians saw a rise in their share from 31 per cent in 2007 to 37 per cent last year.
Conversely, the proportion fell from 56 to 52 per cent for production and related workers, and from 13 to 11 per cent for clerical, sales and service workers.
However, production and related workers still had the highest incidence of redundancy.
The rate of layoffs for foreigners also went up 153 per cent from the year before, and their share of total redundancies rose to a new high of 39 per cent.
However, re-employment picked up - seven in ten locals retrenched in the third quarter of last year were re-employed by the end of the year, higher than the 62 per cent the quarter before.
The MOM said this was probably because of more realistic expectations given the weak job market, although degree holders were the only ones whose re-employment rate went down.
- CNA/yb
