Xinhua, Singapore :
Employment growth in Singapore remained low in the first half of 2016, while unemployment and redundancies have risen, said the country’s Ministry of Manpower on Thursday.
The ministry noted that this reflects subdued external economic environment, continued restructuring of the economy, and structural slowing of local labor force growth in its Statement on Labor Market Developments on Thursday.
Total employment, excluding Foreign Domestic Workers (FDW), grew by 11,600 in the first half of 2016, reversing the decline in the same period last year, but significantly lower than the growth in the same period in 2013 and 2014, said the statement.
The ministry said local employment remained flat in the first half of 2016. Unemployment for residents rose in June after declining in March. The seasonally-adjusted unemployment rate for residents grew up from 2.7 percent in March to 3.0 percent in June. On a non-seasonally adjusted basis, the resident long-term unemployment rate has risen from 0.7 percent in June 2015 to 0.8 percent in June 2016.
The slower local employment growth since 2015 reflects both structural factors and cyclical effects because of the subdued global economic conditions, added the ministry. For the first half of 2016, declines continued to be mainly in sectors such as manufacturing, retail trade and real estate. While local employment continued to grow in community, social and personal services and transportation and storage.
Foreign employment growth continued a moderated pace of 11,800 (excluding FDW) in the first half 2016, compared to the earlier part of the decade, said the ministry. Growth of S Pass and Employment Pass Holders continued to stay moderated at 800 and 1, 700 respectively.
Most of the foreign employment growth were Work Permit Holders in the first half of 2016, notably in food and beverage services and administrative and support services. A significant number were employed as cleaners, security guards and kitchen assistants.
The ministry revealed that 4,800 workers were made redundant in the second quarter of 2016, up slightly from 4,710 in the first quarter, which is also the highest second quarter redundancies since 2009.
Job vacancies fell for the sixth consecutive quarter from 50, 000 in March to 49,400 in June amid subdued global economic conditions, said the statement. The decline was broad-based across many sectors and occupation groups.
The ministry expected labor demand to remain modest in 2016 in line with the weaker global growth outlook. Hiring is expected to be cautious in manufacturing sector, as well as other externally-oriented services sectors such as financial and insurance services and wholesale trade. Amid subdued global economic conditions, the ministry thought redundancies may continue to rise in sectors facing weak external demand and that are undergoing restructuring.
Employment growth in Singapore remained low in the first half of 2016, while unemployment and redundancies have risen, said the country’s Ministry of Manpower on Thursday.
The ministry noted that this reflects subdued external economic environment, continued restructuring of the economy, and structural slowing of local labor force growth in its Statement on Labor Market Developments on Thursday.
Total employment, excluding Foreign Domestic Workers (FDW), grew by 11,600 in the first half of 2016, reversing the decline in the same period last year, but significantly lower than the growth in the same period in 2013 and 2014, said the statement.
The ministry said local employment remained flat in the first half of 2016. Unemployment for residents rose in June after declining in March. The seasonally-adjusted unemployment rate for residents grew up from 2.7 percent in March to 3.0 percent in June. On a non-seasonally adjusted basis, the resident long-term unemployment rate has risen from 0.7 percent in June 2015 to 0.8 percent in June 2016.
The slower local employment growth since 2015 reflects both structural factors and cyclical effects because of the subdued global economic conditions, added the ministry. For the first half of 2016, declines continued to be mainly in sectors such as manufacturing, retail trade and real estate. While local employment continued to grow in community, social and personal services and transportation and storage.
Foreign employment growth continued a moderated pace of 11,800 (excluding FDW) in the first half 2016, compared to the earlier part of the decade, said the ministry. Growth of S Pass and Employment Pass Holders continued to stay moderated at 800 and 1, 700 respectively.
Most of the foreign employment growth were Work Permit Holders in the first half of 2016, notably in food and beverage services and administrative and support services. A significant number were employed as cleaners, security guards and kitchen assistants.
The ministry revealed that 4,800 workers were made redundant in the second quarter of 2016, up slightly from 4,710 in the first quarter, which is also the highest second quarter redundancies since 2009.
Job vacancies fell for the sixth consecutive quarter from 50, 000 in March to 49,400 in June amid subdued global economic conditions, said the statement. The decline was broad-based across many sectors and occupation groups.
The ministry expected labor demand to remain modest in 2016 in line with the weaker global growth outlook. Hiring is expected to be cautious in manufacturing sector, as well as other externally-oriented services sectors such as financial and insurance services and wholesale trade. Amid subdued global economic conditions, the ministry thought redundancies may continue to rise in sectors facing weak external demand and that are undergoing restructuring.
