Employment drops 1st time in 5 years: S’poreans affected most?

[makapaaa]

http://www.tremeritus.com/2015/07/29/employment-drops-1st-time-in-5-years-s’poreans-affected-most/

[h=2]Employment drops 1st time in 5 years: S’poreans affected
most?[/h]

July 29th, 2015 |

Author: Contributions

Total employment shrinks for 1st time in 5 years

According to the Straits Times news report “Total
employment shrinks for first time in 5 years: quarterly MOM report”
(Jun 15) – “The number of people employed in Singapore tumbled by 6,100 in the
first quarter of the year, the first time in five years that employment has
contracted.

Total employment, at 3,617,800 in March, was still 2.7 per cent higher than a
year ago, according to official quarterly figures released by the Manpower
Ministry (MOM) on Monday.”

No breakdown into S’poreans, PRs & foreigners

Why is there no breakdown of the decrease in total employment into
Singaporeans, permanent residents (PRs) and foreigners?

Are Singaporeans more affected by the shrinkage?

As to “despite this, unemployment continued to fall, with the
seasonally-adjusted rate down to 1.8 per cent overall, from 1.9 per cent in the
fourth quarter of last year. The rate for citizens also creeped down to 2.6 per
cent, or around 47,800 people, from 2.7 per cent in the previous quarter” – the
unemployment rates have always been published as that for Singaporeans,
residents (Singaporeans and PRs) and the overall workforce (including foreign
workers).

Should disclose unemployment rates of citizens, PRs & foreign
workers

From the available data in the Labour
Market first quarter 2015 report released on 15 June – on the number
of unemployed residents and Singaporeans, and the total workforce – I have been
able to derive estimates of the unemployment rate as of March 2015, for PRs and
foreign workers.

Singaporeans have a much higher unemployment rate

They are 2.0 and 0.7 per cent respectively.

Contrast this to the published unemployment rates of 2.6, 2.5 and 1.8 per
cent for Singaporeans, PRs and the overall (workforce) respectively.

What is perhaps interesting to note is that the decrease in the unemployment
rate was the worse for Singaporeans, from 2.7 to 2.6 per cent, compared to 2.7
to 2.5 per cent for residents.

So, are Singaporeans more affected by the shrinkage in total employment,
relative to PRs and foreigners?

Long-term unemployed – degree workers worse off

For the 11,200 long-term unemployed for more than 25 weeks – degree holders
were the only education category which saw an increase from 0.5 to 0.7 per cent,
from December 2014 to March 2015.

Re-entry into employment – degree holders worse off

Degree holders also had the lowest rate of re-entry into employment,
declining from 48.6 to 46.2 per cent.

Perhaps this may have something to do with the rhetoric that a degree is not
so important!

Redundancy – PMETs worse off

For those made redundant – PMETs were the highest at 72 per
cent.

Win battles lose
war

* Submitted by TRE reader.

 

[mojito]

Kowtow to the PAP, and you never have to worry about such silly stats lah! So simple!

 

[johnny333]

The PAP likes to claim that Spore is run like a world class company.

I think it is run more like a chinese famiLee business where there's plenty of dead wood & overpaid family members. If nothing is changed the workers will be stuck with the liabilities while the management runs road with $$..$.

 

[Dark Knight]

Those who recently went for job interviews in any MNC and SME will know what sort of BS they are talking about.

 

[halsey02]

Those who recently went for job interviews in any MNC and SME will know what sort of BS they are talking about.

Except for the regular taxi drivers at the carparks in my area, I have noticed, there are more & more people driving taxis for a living these days, just this two days, I saw 3 new taxis parked in the regular spaces. This means that many find it hard to find work, with their education certificates or qualifications by the Singapore Education system, whether it is Diplomas or even degrees, whereas foreigners with 'reputable' degrees gets permanent jobs that come with benefits.

These people, should, sit up & examine the people whom many had voted & place them in that position of loosing out on a permanent job with benefits, whereas people from '3rd world' countries are living 1st world lives, where the "swiss standard" Singaporeans are having 3rd world wages & paying more through their noses in most things plus taxes...