Retrenchments, unemployment in S’pore up in Q3 but job market continues to expand: MOM

[threadfin]

Retrenchments, unemployment in S’pore up in Q3 but job market continues to expand: MOM


SINGAPORE – The number of retrenchments and unemployed residents in Singapore rose in the third quarter of 2023 as a weaker economic outlook dragged down sectors such as wholesale trade.

But the labour market continued to expand for the eighth straight quarter, with increases for both residents and non-residents.

And, while unemployment rates remained low, the Ministry of Manpower (MOM) cautioned on Thursday that unemployment has been on a slow uptrend and may continue to rise further, as it released preliminary labour data for the quarter.

 

[millim6868]

Lol, 60% dumb sinkies will rejoice, lol

 

[Chase]

my fellow Singaporeans,

in the unfortunate situation that your company wanna retrench you, the benchmark is minimum 0.5mth compensation per year. If you have outstanding commissions dues, ask HR for it to be included in the retrenchment package or you should file a case with MOM. Lastly, ask for all outstanding leaves to be converted to retrench package.

Reason being so, is that retrenchment package is income-tax exempted.
Sorry just small takes to make the best out of the situation.

 

[A Singaporean]

Unemployment up but job market expands. This could only mean the new jobs go to foreigners. Song boh.

 

[threadfin]

Unemployment up but job market expands. This could only mean the new jobs go to foreigners. Song boh.

sinkies voted for this

 

[mojito]

Truly PAP stats defy even the laws of nature!

 

[worcer]

the only unemployment are sinkies...

employment for foreigners are all high...

 

[Loofydralb]

Truly PAP stats defy even the laws of nature!

They learnt it from CCCP. Massage the numbers until you get what number you want.

 

[red amoeba]

Plane loads of CECAs are on route. Need more grab delivery guys. So how ?

 

[winnipegjets]

Why is it so difficult for the government to tell business to lay off foreigners first?

 

[birdie69]

Lol, 60% dumb sinkies will rejoice, lol

MOM didn't tell you the jobs expanding are mostly cleaners, food delivery and drivers, health care, the high pay good jobs no longer available

 

[True Believer]

Truly PAP stats defy even the laws of nature!

If a retrenched person is unable to find a job within 6 months, he is considered "retired" or "no longer interested in working" in S'pore. That's how to keep the unemployment figures low.

 

[True Believer]

MOM didn't tell you the jobs expanding are mostly cleaners, food delivery and drivers, health care, the high pay good jobs no longer available

Add self-employed jobs such as insurance and property agents as well as MLM sales reps to the list.

 

[MaximiLian]

lol so iz not juz me having a hard time deciphering todae’s headline

 

[batman1]

LPPL. 555

 

[mojito]

If a retrenched person is unable to find a job within 6 months, he is considered "retired" or "no longer interested in working" in S'pore. That's how to keep the unemployment figures low.

More Singaporeans retiring early. Good no?

 

[Scrooball (clone)]

That's like the doc telling you ok I have bad news and good news for you....

Bad news - u got Stage 4 Cancer
Good news - u are still alive

 

[True Believer]

More Singaporeans retiring early. Good no?

There are far too many seniors working as cleaners at hawker centres for low pay when they should be home taking care of their grandchildren or enjoying their golden years without having to worry about money. Those below the retirement age who are considered no longer interested in working will eventually end up "underemployed" since the jobs they are qualified for have all gone to foreigners.

 

[Laguna123]

Mean the FT and FW are not included in the employment statistic?

 

[Laguna123]

There are far too many seniors working as cleaners at hawker centres for low pay when they should be home taking care of their grandchildren or enjoying their golden years without having to worry about money. Those below the retirement age who are considered no longer interested in working will eventually end up "underemployed" since the jobs they are qualified for have all gone to foreigners.

After 6mth of unemployed sinkie should be out of the statistic?