More good economic news!!!!

[winnipegjets]

More workers laid off in 2013, compared with 2012: MOM report

Joanna Seow
The Straits Times
Thursday, Apr 24, 2014

Slightly more workers were laid off last year, said the Manpower Ministry (MOM) in a report released on Thursday. But as there were more employees overall, the incidence of redundancy remained the same as in 2012.

According to the "Redundancy and Re-entry into Employment 2013 report, a total of 11,560 workers were laid off in 2013, up from 11,010 in 2012. In both years, this affected 5.8 workers per 1,000 employees.

Restructuring of business processes for greater work efficiency remained the top reason for redundancy in 2013, with professionals, managers, executives & technicians (PMETs) more vulnerable to being laid off.

Here is the press release from the Ministry of Manpower:

Key Findings from "Redundancy and Re-entry into Employment, 2013" Report

The incidence of redundancy and unemployment remained low in 2013, as the labour market continued to be tight. While the overall rate of re-entry into employment declined slightly, there were signs of improvement in the last three quarters of the year.

Redundancy

In 2013, 11,560 workers were laid off, slightly higher than the 11,010 in 2012.

Seen against a larger pool of employees, the incidence of redundancy remained low at 5.8 workers per 1,000 employees, unchanged from 2012. 3 Restructuring of business processes for greater work efficiency remained the top reason for redundancy in 2013, affecting 40% of the workers laid off in 2013, up from 37% in 2012. High costs and reorganisation of businesses were the other key reasons cited.

Professionals, managers, executives & technicians (PMETs) were more vulnerable to redundancy, with 7.3 made redundant for every 1,000 PMETs, compared to production & related workers (5.7 per 1,000) and clerical, sales & service workers (2.8 per 1,000). Nonetheless, the unemployment rate of PMETs remained lower than other occupations, and the number of residents laid off from PMET positions was not large at 4,940.

Re-entry into Employment

Two-thirds (66%) of residents made redundant in the first three quarters of 2013 re-entered employment by December 2013, within 12 months of redundancy. This was slightly lower than the rate experienced by the preceding cohort in 2012 (68%), due to PMETs who take longer to secure re-entry into employment, as they spend more time seeking jobs that match their skills, qualifications and salary expectations. However, there was improvement in the last three quarters of the year, with the rate of re-entry into employment within six months of redundancy rising from 49% in March 2013 to 59% in December 2013.

 

[winnipegjets]

Two-thirds (66%) of residents made redundant in the first three quarters of 2013 re-entered employment by December 2013, within 12 months of redundancy. This was slightly lower than the rate experienced by the preceding cohort in 2012 (68%), due to PMETs who take longer to secure re-entry into employment, as they spend more time seeking jobs that match their skills, qualifications and salary expectations.

They won't tell you about the wages earned in the new jobs because it will be totally disgusting. It is likely to be a 30 to 60 percent drop.
As the PMET gets desperate, they become taxi drivers or security guard. Soon, sinkapore will be a land of taxi drivers and security guards.

 

[nutbush]

the economic structure of sinkieland really put the locals to test...meaning that it won;t sustain and keep its citizens employed. more like when you reach redundancy as deem fit by the organisation you work for, time to say goodbye.

 

[mojito]

The bureaucrats are grinning from ear to ear. Top salaries guaranteed without the risk of redundancy. Keep our secrets secret and you'll do fine!

 

[johnny333]

Do the 60% still believe in the myth of the social contract with the PAP

 

[mojito]

In Singapore, people are our only resource. Fortunately with immigration, it has become a renewable resource. Don't be shy. Ruthlessly exploit and pillage them like our former colonial masters because now we are the masters of the house.

 

[Thick Face Black Heart]

More workers laid off in 2013, compared with 2012: MOM report

Joanna Seow
The Straits Times
Thursday, Apr 24, 2014 .

Structural underemployment of PMETs is still on the rise. 3 full years since the Boat Quay apology and nothing has changed.

 

[Leongsam]

They won't tell you about the wages earned in the new jobs because it will be totally disgusting. It is likely to be a 30 to 60 percent drop.

That's because they were being paid far too much in the first place which is the reason why they were fired.

Employees need to add value to the company they are working for. Businesses are not charity organisations. They need to make a profit in order to pay the bills.

The problem with most sinkie PMETs is they have an inflated sense of self worth which is totally out of sync with reality.