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Plentiful Jobs In SG But Lazy Retards Chose To Wait For Opposition Win In GE! Singapore has the lowest unemployment rate in the world and has more jobs than job seekers.However, the promise by the Opposition to give out generous unemployment benefits has stopped these people from being productive citizens. More Foreign Talents must be imported to fill in these gap.
S'pore likely to see broad-based hiring next year
By Chris Howells | Posted: 27 December 2010 2303 hrs
SINGAPORE : Singapore is likely to see broad-based hiring across all major sectors of the economy next year. And that, analysts say, will likely lead to wage growth of between 5 and 10 per cent.
The services sectors, where the manpower crunch is the most acute, will have to pay significantly more for talent.
Singapore's unemployment rate fell in the third quarter to its lowest level in two-and-a-half years to a seasonally adjusted 2.1 per cent as companies continued to add to headcount.
Vacancies rose 36 per cent on-year to 50,200. This means companies are finding it harder to get the talent they need, and some are feeling the pinch.
Alvin Liew, economist, Standard Chartered Bank, said: "We're seeing a four-year record high in vacancies in the service sector in part due to demand drive and in part also due to the changes in government policy towards foreign worker inflows.
"So going forward, the downward pressure is there. 2011 should see wage growth. I wouldn't be surprised to see anything between 5 and 10 per cent on average across industries."
With the integrated resorts doing brisk business amid strong visitor arrivals, services, including hotels, restaurants and retail, are creating many more new jobs. And so is the financial services industry.
According to the Ministry of Manpower, services added 21,300 workers in the third quarter, while manufacturing unemployment experienced a slight decline and construction remained flat.
Neil Dyball, manager of Financial Services division at Robert Walters, said: "I think people will have to pay large increases for the right talent and really next year will be about strategic hires.
"Next year won't be about hiring large numbers of volume to get the business back up and running, next year will be about wining the war on securing the best available talent."
According to analysts, hiring is likely to remain strong in 2011, but the pace is likely to moderate along with slowing economic growth.
Meanwhile, Hudson's most recent employment report said that 58 per cent of employers in Singapore were expecting to add staff this quarter, versus just 34 per cent in the fourth quarter of 2009.
- CNA/al
S'pore likely to see broad-based hiring next year
By Chris Howells | Posted: 27 December 2010 2303 hrs
SINGAPORE : Singapore is likely to see broad-based hiring across all major sectors of the economy next year. And that, analysts say, will likely lead to wage growth of between 5 and 10 per cent.
The services sectors, where the manpower crunch is the most acute, will have to pay significantly more for talent.
Singapore's unemployment rate fell in the third quarter to its lowest level in two-and-a-half years to a seasonally adjusted 2.1 per cent as companies continued to add to headcount.
Vacancies rose 36 per cent on-year to 50,200. This means companies are finding it harder to get the talent they need, and some are feeling the pinch.
Alvin Liew, economist, Standard Chartered Bank, said: "We're seeing a four-year record high in vacancies in the service sector in part due to demand drive and in part also due to the changes in government policy towards foreign worker inflows.
"So going forward, the downward pressure is there. 2011 should see wage growth. I wouldn't be surprised to see anything between 5 and 10 per cent on average across industries."
With the integrated resorts doing brisk business amid strong visitor arrivals, services, including hotels, restaurants and retail, are creating many more new jobs. And so is the financial services industry.
According to the Ministry of Manpower, services added 21,300 workers in the third quarter, while manufacturing unemployment experienced a slight decline and construction remained flat.
Neil Dyball, manager of Financial Services division at Robert Walters, said: "I think people will have to pay large increases for the right talent and really next year will be about strategic hires.
"Next year won't be about hiring large numbers of volume to get the business back up and running, next year will be about wining the war on securing the best available talent."
According to analysts, hiring is likely to remain strong in 2011, but the pace is likely to moderate along with slowing economic growth.
Meanwhile, Hudson's most recent employment report said that 58 per cent of employers in Singapore were expecting to add staff this quarter, versus just 34 per cent in the fourth quarter of 2009.
- CNA/al
