UNDERGRADUATE May Zhang has given herself six months to find a job in the corporate world upon graduation; failing which, she may open a cafe with her boyfriend.
While she will graduate only in July — she has yet to take her final-year exam — Ms Zhang is already starting to worry about whether she will land her dream job with a communication consulting firm.
“I’m worried because there are fewer jobs available and we hear stories about friends who got retrenched after they found a job after graduation last year,” said Ms Zhang, 23, who is doing a double major in economics and corporate communications at the Singapore Management University (SMU).
But instead of leaving everything to chance after graduation, Ms Zhang has already mapped out her plans post-SMU.
“I’ll try to use the six months after graduation to find a job. There’s no point waiting to find the dream job because I can start my own business,” said Ms Zhang, who has already sent out resumes to three companies.
The avid baker, who started an online blogshop selling cupcakes one-and-a-half years ago, is considering opening a cafe with her boyfriend. She said: “I’ve always thought of setting up my own cafe. It’s an opportunity now to start my business.”
Like Ms Zhang, many final-year undergraduates interviewed by Weekend Xtra are also starting to worry — not about getting their dream job, but getting a job at all. Never mind that graduation is a good six months away.
At this time last year, most final-year students would have been more concerned with project deadlines, revising for their exams and less stressful matters, like planning their post-graduation holidays.
But with Singapore possibly facing the worst recession in its history, many undergraduates are putting worries about their job prospects at the top of their lists. Some 15,000 students are expected to graduate from Singapore’s three universities in July.
Said Dr Helen Chai, assistant dean of undergraduate admissions and the director of BBA programmes at the NUS Business School: “I think students are in tune with the current times and they are well-prepared for the situation ... They are exploring their options to enhance their career versatility, including the school’s concurrent masters programmes.”
For some, being well-prepared means sending out their resumes now instead of in April, when the exams are over, to give themselves a headstart over their peers.
It also means paying more attention to job advertisements in newspapers and career talks held by their universities.
Some undergraduates told Weekend Xtra that they are also lowering their job expectations, and that they are ready toaccept a lower salary or work in an industry that is not their first choice.
NUS civil engineering final-year student Yang Chang Han, said: “I’m planning to job hunt now; I had wanted to start after my exams. I’ve heard of people who have looked for a job for six months and are still jobless. Hearing their stories scares me.”
When asked whether his friends are also worried, Mr Yang, 25, said: “The question that we ask each other now is — ‘Have you found a job?’” He added that he is also willing to lower his pay expectations to $2,500, from his original target of $3,000.
Ms Jessie Loy, 23, is considering teaching as a career, even though she did not set out to be a teacher when she opted for mass communications at the Nanyang Technological University (NTU).
She said: “Recently, there was a teaching award seminar by the Ministry of Education and I thought I’d be one of the few ones from my course to attend it. But there were quite a lot of my coursemates there; they said they were checking it out as a potential back-up because they don’t know how the economy will be once they graduate.”
Another option that more undergraduates are considering is furthering their studies, such as pursuing a Masters degree.
Ms Qian Xiao Hui, 21, is considering doing a Masters in Financial Engineering if she doesn’t get a job when the banks make their customary hiring rounds in February. The final-year banking and finance student at NTU said: “I don’t want to compete in the bad job market. Education is an investment.”
Although the private sector may not be hiring as much as they used to, the public sector remains a good place for undergraduates to seek their first jobs. Finance Minister Tharman Shanmugaratnam announced in his recent Budget speech that the Government would open up 18,000 new public sector jobs over the next two years across different ministries and statutory boards for all levels of employees.
Still, despite such openings, the job market will still be a tough year for fresh graduates, given the high number of job losses expected this year, said Mr Alvin Liew, an economist at Standard Chartered Bank.
Professor Michael Heng, from NTU’s School of Electrical & Electronic Engineering, said that while the job market may be tight, graduates who are flexible in their job hunt should have no problem finding a job.
He said: “You need to see your skills differently. If you see yourself as having a capability and not just having hard skills, you have no problem finding a job. Paywise, you still have to adjust expectations, but if you do well in your job, there’ll be no problem getting pay increments.”
Despite the bleak outlook, some students already have jobs waiting for them come July — thanks to the help given by their respective universities.
Mr Colin Teo, a final-year student at NTU’s Nanyang Business School, took up an offer from the school to intern at one of the Big Four accounting firms last June.
The 24-year-old said: “I signed up for it because I already felt the signs when the sub-prime crisis started and the US dollar started to weaken. I know I had to do an internship at one of the Big Four to secure a job.”
He approached his internship company last November for a job and got an offer ahead of his peers. Given the tough economic climate, Mr Teo said: “It’s better to be somewhere now than nowhere. It’s barely six months to graduation and some people are not even getting job offers. But they are not in total despair; they are still taking things in their stride.”
- TODAY newspaper
Jan 31, 2009
Chartered axes 600
IN THE first big retrenchment that comes a week after the Government unveiled job-saving measures in its Budget, Chartered Semiconductor said it will lay off 600 workers worldwide, after :posting a fourth-quarter loss of US$114 million ($170 million).
The bulk of the job losses, 540, will be in Singapore where all its manufacturing operations are.
Before wielding the axe, did the company — one of the world’s largest microchip makers — take into account the new Jobs Credit scheme which would see the Government reimbursing employers a portion of each local workers’ wage?
In response Chartered said it has, since the last quarter, been cutting costs through measures such as salary cuts, overtime elimination and reducing contract positions.
“However, customers are cutting back more than expected as they deal with increased uncertainty and raisinginventories, and as a result, Chartered is expecting sequential revenues reduction of around 31 per cent corresponding to utilisation level of about 37 per cent,” said spokesperson Celestine Lim on Friday.
“We are guiding for a loss of US$147 million ($222 million) for the first quarter. Given this, Chartered felt that a corporate re-sizing was indeed necessary to adjust to our business activity level.”
The affected employees here, an even mix of foreign and local workers, make up close to 8 per cent of its 6,900-strong Singapore workforce.
On Friday, Japanese semiconductor giants NEC Corp and Hitachi also announced job cuts of 20,000 and 7,000 respectively, amid scaled-down sales forecasts for the year.
Madam Halimah Yacob, executive secretary of the United Workers of Electronic and Electrical Industries, defended Chartered’s decision, noting its “colossal” loss last quarter. “Their excess situation is really quite big ... they don’t have enough demand to sustain normal production activity, (not) enough jobs for the workers to do,” said Mdm Halimah, who is also NTUC deputy secretary-general.
The company has been in close consultation with the union since November, she said, to “explore ways of cutting costs and to save jobs” before resorting to retrenchment as the “last option” in early January. In November it announced a temporary pay cut of 5 to 20 per cent. It strove to keep local workers and released 273 foreign contract workers in December.
For axed workers, those with more than three years’ service will get one month’s pay for each year of service. The rest will receive half a month’s pay per year of service, subject to a minimum of a month’s salary. All affected employees will also enjoy an ex-gratia payment.
All keen and eligible staff will be put on the Government-subsidised Skills Programme for Upgrading and Resilience (Spur), in addition to Chartered’s outplacement services.
Asked if Singaporeans should brace for a slew of retrenchments despite the Jobs Credit scheme, Mdm Halimah said one has to be realistic, as it is not possible to save 100 per cent of jobs on the line. “There will be companies that face tremendous pressure and it’s not possible to stave off retrenchment,” she said.
“There will be companies where (Jobs Credit) will provide them with a new lease of life and help keep the workers. And then there will be situations where, without the scheme, retrenchments will be even worse.”
While no companies have yet approached the union in the post-Chinese New Year period to discuss retrenchment plans — possibly due to the prolonged plant shutdowns — on a bright note, Mdm Halimah said a few firms approached had been positive about the Jobs Credit scheme.
Having previously flagged their intention to lay off workers, they are now reviewing their plans, she said.
Still, economists agree that the Jobs Credit is not a panacea for retrenchment, with HSBC’s Robert Prior-Wandesforde noting the scheme can “really only hope to cushion the blow and will have more impact on small, labour-intensive sectors”.
In the same vein, Acting Manpower Minister Gan Kim Yong said that when retrenchment becomes unavoidable, “efforts will be targeted at helping affected workers” through training schemes like Spur.
According to research house Gartner, the global chip industry will decline by 16 per cent in 2009. The slump has led to global layoffs, including in this past week, Philips Electronics, Toshiba and Sony.
- TODAT newspaper
The bulk of the job losses, 540, will be in Singapore where all its manufacturing operations are.
Before wielding the axe, did the company — one of the world’s largest microchip makers — take into account the new Jobs Credit scheme which would see the Government reimbursing employers a portion of each local workers’ wage?
In response Chartered said it has, since the last quarter, been cutting costs through measures such as salary cuts, overtime elimination and reducing contract positions.
“However, customers are cutting back more than expected as they deal with increased uncertainty and raisinginventories, and as a result, Chartered is expecting sequential revenues reduction of around 31 per cent corresponding to utilisation level of about 37 per cent,” said spokesperson Celestine Lim on Friday.
“We are guiding for a loss of US$147 million ($222 million) for the first quarter. Given this, Chartered felt that a corporate re-sizing was indeed necessary to adjust to our business activity level.”
The affected employees here, an even mix of foreign and local workers, make up close to 8 per cent of its 6,900-strong Singapore workforce.
On Friday, Japanese semiconductor giants NEC Corp and Hitachi also announced job cuts of 20,000 and 7,000 respectively, amid scaled-down sales forecasts for the year.
Madam Halimah Yacob, executive secretary of the United Workers of Electronic and Electrical Industries, defended Chartered’s decision, noting its “colossal” loss last quarter. “Their excess situation is really quite big ... they don’t have enough demand to sustain normal production activity, (not) enough jobs for the workers to do,” said Mdm Halimah, who is also NTUC deputy secretary-general.
The company has been in close consultation with the union since November, she said, to “explore ways of cutting costs and to save jobs” before resorting to retrenchment as the “last option” in early January. In November it announced a temporary pay cut of 5 to 20 per cent. It strove to keep local workers and released 273 foreign contract workers in December.
For axed workers, those with more than three years’ service will get one month’s pay for each year of service. The rest will receive half a month’s pay per year of service, subject to a minimum of a month’s salary. All affected employees will also enjoy an ex-gratia payment.
All keen and eligible staff will be put on the Government-subsidised Skills Programme for Upgrading and Resilience (Spur), in addition to Chartered’s outplacement services.
Asked if Singaporeans should brace for a slew of retrenchments despite the Jobs Credit scheme, Mdm Halimah said one has to be realistic, as it is not possible to save 100 per cent of jobs on the line. “There will be companies that face tremendous pressure and it’s not possible to stave off retrenchment,” she said.
“There will be companies where (Jobs Credit) will provide them with a new lease of life and help keep the workers. And then there will be situations where, without the scheme, retrenchments will be even worse.”
While no companies have yet approached the union in the post-Chinese New Year period to discuss retrenchment plans — possibly due to the prolonged plant shutdowns — on a bright note, Mdm Halimah said a few firms approached had been positive about the Jobs Credit scheme.
Having previously flagged their intention to lay off workers, they are now reviewing their plans, she said.
Still, economists agree that the Jobs Credit is not a panacea for retrenchment, with HSBC’s Robert Prior-Wandesforde noting the scheme can “really only hope to cushion the blow and will have more impact on small, labour-intensive sectors”.
In the same vein, Acting Manpower Minister Gan Kim Yong said that when retrenchment becomes unavoidable, “efforts will be targeted at helping affected workers” through training schemes like Spur.
According to research house Gartner, the global chip industry will decline by 16 per cent in 2009. The slump has led to global layoffs, including in this past week, Philips Electronics, Toshiba and Sony.
- TODAT newspaper
Dress for success
The first time business undergraduate Jeremiah Tay went to a grooming class held by his university, he showed up in what he thought was appropriate corporate wear - baggy trousers.
The 25-year-old was promptly taken to task by the instructor. He recalls with a laugh: "She said it looked like I was hiding a chicken in my pants."
The free course was conducted by the career services office of the business school at the National University of Singapore (NUS) to help students acquire skills useful for getting ahead, such as dressing for success.
Such grooming and etiquette classes, long a standard feature at many American Ivy League universities, have become increasingly common at tertiary institutions here that want their students to stand out in a crowded job market.
Take the course that Tay attended.
The six-week Career Planning and Management Programme, introduced in 2006, is mandatory for all first-year NUS business students and covers not just resume writing and networking skills but also dressing etiquette.
These days, Tay has a firm grasp of sartorial details - not to mention, a job in hand.
The fourth-year finance student graduates in May and already has a job offer in the banking industry.
Thanks to the grooming tips learnt during the course, his interview suits fit him impeccably - he gets them tailored. He says: "First impressions count a lot and I definitely feel more confident walking into an interview because I feel like one of them."
Other tertiary institutions helping to give students a style edge include Singapore Management University (SMU) with its Finishing Touch course launched in 2001, and the Nanyang Technological University Business School, which started The Winning Formula programme taught by image consultancy firm Imageworks Asia in 2007.
Singapore Polytechnic launched an etiquette and professional image module nine years ago for business students and started offering it to all its students five years ago.
The savvy schools often invite representatives from brands such as beauty and skincare chain The Body Shop and clothing label Crocodile to hold workshops on grooming and dressing for the workplace.
Small wardrobes of suits, shirts and shoes are available at the three universities for students who need to borrow clothes for formal events or interviews.
The NUS Business School career services office even has a tailor who comes twice a year to take bulk orders for suits.
Professional make-up and photography services are also offered to students who want to add a more professional touch to their resumes.
Unlike the free courses, students must pay for these services.
One style expert the institutions consult is Angeelia Phua, the principal trainer for Re Vamp Image Training, which conducts courses for the NUS Business School students.
"Many students have a very narrow concept of professional dress - they think it just means long sleeves," says Phua, who is in her 30s.
"A good professional wardrobe is an investment in yourself. It need not be expensive, but it must be presentable."
She adds: "There are many graduates in the market now and before interviewers see your resume, they see your attire. If they like the way you look, they become more receptive towards whatever you have to say."
Indeed, SMU's Career Services director Ruth Chiang, who is in her 50s, notes: "These difficult times are unprecedented and for this batch of graduating students, it will be a baptism of fire. How you present yourself is one way of showing how ready you are to join the workforce."
Still, students need not fear leaving their young, hip ways behind to become corporate clones.
Second-year SMU business student Cheryl Sim, 20, for example, wears shirts tailored with French cuffs - rather than standard ones - that she can personalise with cufflinks.
She says that attending her university's Finishing Touch course made her feel more confident about "winning the first battle of leaving a good impression".
Adds schoolmate Terence Tham, 23, another second-year business student: "I don't think it's important to have the perfect etiquette, but in order to break the rules you must first know them."
- The Straits Times
The 25-year-old was promptly taken to task by the instructor. He recalls with a laugh: "She said it looked like I was hiding a chicken in my pants."
The free course was conducted by the career services office of the business school at the National University of Singapore (NUS) to help students acquire skills useful for getting ahead, such as dressing for success.
Such grooming and etiquette classes, long a standard feature at many American Ivy League universities, have become increasingly common at tertiary institutions here that want their students to stand out in a crowded job market.
Take the course that Tay attended.
The six-week Career Planning and Management Programme, introduced in 2006, is mandatory for all first-year NUS business students and covers not just resume writing and networking skills but also dressing etiquette.
These days, Tay has a firm grasp of sartorial details - not to mention, a job in hand.
The fourth-year finance student graduates in May and already has a job offer in the banking industry.
Thanks to the grooming tips learnt during the course, his interview suits fit him impeccably - he gets them tailored. He says: "First impressions count a lot and I definitely feel more confident walking into an interview because I feel like one of them."
Other tertiary institutions helping to give students a style edge include Singapore Management University (SMU) with its Finishing Touch course launched in 2001, and the Nanyang Technological University Business School, which started The Winning Formula programme taught by image consultancy firm Imageworks Asia in 2007.
Singapore Polytechnic launched an etiquette and professional image module nine years ago for business students and started offering it to all its students five years ago.
The savvy schools often invite representatives from brands such as beauty and skincare chain The Body Shop and clothing label Crocodile to hold workshops on grooming and dressing for the workplace.
Small wardrobes of suits, shirts and shoes are available at the three universities for students who need to borrow clothes for formal events or interviews.
The NUS Business School career services office even has a tailor who comes twice a year to take bulk orders for suits.
Professional make-up and photography services are also offered to students who want to add a more professional touch to their resumes.
Unlike the free courses, students must pay for these services.
One style expert the institutions consult is Angeelia Phua, the principal trainer for Re Vamp Image Training, which conducts courses for the NUS Business School students.
"Many students have a very narrow concept of professional dress - they think it just means long sleeves," says Phua, who is in her 30s.
"A good professional wardrobe is an investment in yourself. It need not be expensive, but it must be presentable."
She adds: "There are many graduates in the market now and before interviewers see your resume, they see your attire. If they like the way you look, they become more receptive towards whatever you have to say."
Indeed, SMU's Career Services director Ruth Chiang, who is in her 50s, notes: "These difficult times are unprecedented and for this batch of graduating students, it will be a baptism of fire. How you present yourself is one way of showing how ready you are to join the workforce."
Still, students need not fear leaving their young, hip ways behind to become corporate clones.
Second-year SMU business student Cheryl Sim, 20, for example, wears shirts tailored with French cuffs - rather than standard ones - that she can personalise with cufflinks.
She says that attending her university's Finishing Touch course made her feel more confident about "winning the first battle of leaving a good impression".
Adds schoolmate Terence Tham, 23, another second-year business student: "I don't think it's important to have the perfect etiquette, but in order to break the rules you must first know them."
- The Straits Times
Jobs: Youth's top worry
A LACK of job opportunities was the top concern among young Singaporeans at a dialogue last night to discuss the just-unveiled Budget.
There were also concerns about the impact of the Budget on future generations as the Government was, for the first time, dipping into the reserves to fund programmes.
Held at the Singapore Polytechnic Graduates' Guild, the two-hour dialogue, titled 'Is this a youthful enough Budget?', was organised by the Young PAP (YP), the youth wing of the People's Action Party. It is the first of six dialogues planned for the year.
It drew some 50 students and professionals who gave their views on the $20.5 billion Budget introduced on Jan 22.
It did not take long for YP vice-chairman Christopher de Souza, who led the discussion, to find out that getting and keeping a job was their top concern.
The first two questions of the night - out of 20 posed - came from two jobless, fresh graduates who were fretting about their job prospects in the downturn.
One said she was worried that with no working experience, job seekers like her stood little chance with employers looking for experienced workers.
Mr De Souza, who is in charge of YP's political education group, said there were still jobs available. He cited the public sector's recent announcement of 18,000 job openings at various ministries and agencies.
But another fresh graduate from the Singapore Management University went further and asked whether Singapore should introduce 'protectionist measures' to take care of Singaporeans first.
Mr De Souza's response: Singapore, being a highly open economy, cannot push for protectionist measures in areas like trade. 'But I think there's a certain amount of merit in what you described as protectionism vis-a-vis jobs. I think we can afford to put Singaporeans first in this economic climate,' the MP for Holland-Bukit Timah GRC said.
He said he may raise the issue at next week's Budget debate in Parliament: 'Perhaps we have to look at the quota mechanism for the number of Singaporeans you have to employ before you can employ a foreigner. Because you're right, we have to take care of Singaporeans and their jobs first.'
But he was quick to add that a fine balance had to be struck as foreigners here did create value and contributed to growing the Singapore economy.
Bedok North resident Cai Tianhao noted that more low-skilled, jobless Singaporeans were seeking help from MPs.
Mr De Souza said the Government would continue to help the needy but would avoid the path of welfarism.
Citing the Workfare Income Supplement scheme, which gives an income boost to low-wage workers, he added: 'It (welfarism) is dangerous and certainly not encouraged by the Government. That's why it's Workfare, not welfare. So you work, you get your fare, and that will continue to be the way.'
- The Straits Times
There were also concerns about the impact of the Budget on future generations as the Government was, for the first time, dipping into the reserves to fund programmes.
Held at the Singapore Polytechnic Graduates' Guild, the two-hour dialogue, titled 'Is this a youthful enough Budget?', was organised by the Young PAP (YP), the youth wing of the People's Action Party. It is the first of six dialogues planned for the year.
It drew some 50 students and professionals who gave their views on the $20.5 billion Budget introduced on Jan 22.
It did not take long for YP vice-chairman Christopher de Souza, who led the discussion, to find out that getting and keeping a job was their top concern.
The first two questions of the night - out of 20 posed - came from two jobless, fresh graduates who were fretting about their job prospects in the downturn.
One said she was worried that with no working experience, job seekers like her stood little chance with employers looking for experienced workers.
Mr De Souza, who is in charge of YP's political education group, said there were still jobs available. He cited the public sector's recent announcement of 18,000 job openings at various ministries and agencies.
But another fresh graduate from the Singapore Management University went further and asked whether Singapore should introduce 'protectionist measures' to take care of Singaporeans first.
Mr De Souza's response: Singapore, being a highly open economy, cannot push for protectionist measures in areas like trade. 'But I think there's a certain amount of merit in what you described as protectionism vis-a-vis jobs. I think we can afford to put Singaporeans first in this economic climate,' the MP for Holland-Bukit Timah GRC said.
He said he may raise the issue at next week's Budget debate in Parliament: 'Perhaps we have to look at the quota mechanism for the number of Singaporeans you have to employ before you can employ a foreigner. Because you're right, we have to take care of Singaporeans and their jobs first.'
But he was quick to add that a fine balance had to be struck as foreigners here did create value and contributed to growing the Singapore economy.
Bedok North resident Cai Tianhao noted that more low-skilled, jobless Singaporeans were seeking help from MPs.
Mr De Souza said the Government would continue to help the needy but would avoid the path of welfarism.
Citing the Workfare Income Supplement scheme, which gives an income boost to low-wage workers, he added: 'It (welfarism) is dangerous and certainly not encouraged by the Government. That's why it's Workfare, not welfare. So you work, you get your fare, and that will continue to be the way.'
- The Straits Times
16,000 lost jobs last year
THE number of workers who lost their jobs last year soared to about 16,000, a five-year high.
Of these, 13,400 were retrenched and the remaining 2,600 were contract workers asked to go before their contracts ended.
The surge, reported by the Ministry of Manpower (MOM) on Friday, reflects the toll from the global financial crisis, which is expected to get worse.
The Government has warned that layoffs could reach levels seen in previous recessions, like the 1998 Asian financial crisis. Retrenchments then peaked at 30,000.
However, Acting Manpower Minister Gan Kim Yong told Singaporeans last night that even though retrenchments and unemployment will continue to go up, there is no need to be demoralised.
The Government has taken steps to stem job losses and help those laid off to re-skill and find other jobs, he told reporters at a community event.
He cited especially the Jobs Credit scheme, which pays for part of a worker's wage, and the Skills Programme for Upgrading and Resilience, or Spur, which heavily subsidises worker training.
Earlier, analysts interviewed said MOM's figures on the job losses were just the tip of the iceberg. They also said the number of new jobs added this year is unlikely to be anywhere near last year's.
Said Standard Chartered economist Alvin Liew: 'I would not be surprised to find job creation to be negative in the first half of this year.'
About 227,200 new jobs were added last year, most of them in the first nine months, said MOM when it gave its preliminary estimates on the employment situation here.
In the last quarter, the global turmoil caused job growth to slow significantly and layoffs to rise substantially.
This was inevitable, as the economy contracted by 12.5 per cent against the previous quarter, the biggest quarterly decline ever reported.
Worst off was the export-oriented manufacturing sector as global demand plunged. Layoffs added up to 8,300 or three-fifths of total retrenchments.
HSBC economist Robert Prior-Wandesforde says manufacturing jobs 'look particularly vulnerable' for the rest of the year.
Retrenchment in construction was negligible (200) while the services sector laid off 4,900, signalling that the recession would be far-reaching.
Most of those laid off in services were asked to go in the last quarter. The figure jumped more than five times to 3,200, from 562 in the preceding quarter.
Most were in the financial services and wholesale trade industries, said MOM.
Economist Choy Keen Meng of Nanyang Technological University foresees labour-intensive trade and tourism to bump up the number this year. Retrenchment will rise throughout the year, he added.
With the huge job losses in the last quarter of 2008, Singapore's unemployment rate rose to 2.6 per cent in December, up from 2.2 per cent in September.
But for the resident population, made up of Singaporeans and permanent residents, the corresponding rates were 3.7 per cent and 3.3 per cent.
When the whole year is taken into account, this rate for residents drops to 3.2 per cent, which is below the 2003 rate when Sars sent the economy reeling. The rate then was 5.2 per cent.
In actual numbers, an average of 62,900 residents were unemployed in 2008, against 56,700 in 2007, said MOM.
Last year, both locals and foreigners gained from the bounty of work. Out of the 227,200 new jobs, about 70,400 went to locals and 156,900 to foreigners, most of whom took jobs that locals were not available for.
But the number slowed in the last quarter, when just 26,900 new jobs were added. This is nearly half of the 55,700 jobs created in the preceding quarter.
However, what is significant is that slightly more than half of the 26,900 new jobs went to locals, noted Mr Gan.
Mr Prior-Wandesforde says of this year's job market: 'Even if the economy picks up in the second half of 2009 as we anticipate, the labour market won't improve until well into 2010.'
- The Straits Times
Of these, 13,400 were retrenched and the remaining 2,600 were contract workers asked to go before their contracts ended.
The surge, reported by the Ministry of Manpower (MOM) on Friday, reflects the toll from the global financial crisis, which is expected to get worse.
The Government has warned that layoffs could reach levels seen in previous recessions, like the 1998 Asian financial crisis. Retrenchments then peaked at 30,000.
However, Acting Manpower Minister Gan Kim Yong told Singaporeans last night that even though retrenchments and unemployment will continue to go up, there is no need to be demoralised.
The Government has taken steps to stem job losses and help those laid off to re-skill and find other jobs, he told reporters at a community event.
He cited especially the Jobs Credit scheme, which pays for part of a worker's wage, and the Skills Programme for Upgrading and Resilience, or Spur, which heavily subsidises worker training.
Earlier, analysts interviewed said MOM's figures on the job losses were just the tip of the iceberg. They also said the number of new jobs added this year is unlikely to be anywhere near last year's.
Said Standard Chartered economist Alvin Liew: 'I would not be surprised to find job creation to be negative in the first half of this year.'
About 227,200 new jobs were added last year, most of them in the first nine months, said MOM when it gave its preliminary estimates on the employment situation here.
In the last quarter, the global turmoil caused job growth to slow significantly and layoffs to rise substantially.
This was inevitable, as the economy contracted by 12.5 per cent against the previous quarter, the biggest quarterly decline ever reported.
Worst off was the export-oriented manufacturing sector as global demand plunged. Layoffs added up to 8,300 or three-fifths of total retrenchments.
HSBC economist Robert Prior-Wandesforde says manufacturing jobs 'look particularly vulnerable' for the rest of the year.
Retrenchment in construction was negligible (200) while the services sector laid off 4,900, signalling that the recession would be far-reaching.
Most of those laid off in services were asked to go in the last quarter. The figure jumped more than five times to 3,200, from 562 in the preceding quarter.
Most were in the financial services and wholesale trade industries, said MOM.
Economist Choy Keen Meng of Nanyang Technological University foresees labour-intensive trade and tourism to bump up the number this year. Retrenchment will rise throughout the year, he added.
With the huge job losses in the last quarter of 2008, Singapore's unemployment rate rose to 2.6 per cent in December, up from 2.2 per cent in September.
But for the resident population, made up of Singaporeans and permanent residents, the corresponding rates were 3.7 per cent and 3.3 per cent.
When the whole year is taken into account, this rate for residents drops to 3.2 per cent, which is below the 2003 rate when Sars sent the economy reeling. The rate then was 5.2 per cent.
In actual numbers, an average of 62,900 residents were unemployed in 2008, against 56,700 in 2007, said MOM.
Last year, both locals and foreigners gained from the bounty of work. Out of the 227,200 new jobs, about 70,400 went to locals and 156,900 to foreigners, most of whom took jobs that locals were not available for.
But the number slowed in the last quarter, when just 26,900 new jobs were added. This is nearly half of the 55,700 jobs created in the preceding quarter.
However, what is significant is that slightly more than half of the 26,900 new jobs went to locals, noted Mr Gan.
Mr Prior-Wandesforde says of this year's job market: 'Even if the economy picks up in the second half of 2009 as we anticipate, the labour market won't improve until well into 2010.'
- The Straits Times
Jan 30, 2009
Singapore's employment growth slows, jobless rate up at 2.6% in Q4
Singapore’s unemployment rate in the last quarter of 2008 rose to a seasonally adjusted 2.6 per cent, up from 2.2 per cent in the third quarter on rising retrenchments with slowing employment growth and a weaker economy.
According to official data from the Ministry of Manpower (MOM) released Friday, about 73,100 Singapore residents were jobless in December, a steep 58 per cent jump year-on-year.
For the whole of 2008, the overall unemployment rate averaged 2.3 per cent (62,900 residents), up from a year ago which was 2.1 per cent (56,700 residents). This is the first time the annual average unemployment rate has increased since 2003, when it peaked at 4.0 per cent.
Deputy secretary-general of National Trades Union Congress (NTUC), Heng Chee How, said: "We knew that the fourth quarter retrenchment was significantly higher. If you look at the overall trends, it is within expectations. The year ahead will be challenging."
The rising unemployment rate was driven by increasing retrenchment as companies cut back on manpower to cope with the global financial meltdown.
Preliminary estimates showed that some 7,000 workers were retrenched in the quarter ended December, up more than three-fold (1,966) from the same period a year ago.
For the entire year, 13,400 workers were retrenched, almost twice that of 7,675 in 2007, mainly due to layoffs in the manufacturing and services sectors.
Layoffs in the services sector jumped four-folds to 3,200 due to retrenchments in financial services and wholesale trade.
With workers released prematurely from their contracts included in the figures, redundancies totalled 16,000 for the whole of 2008.
Acting Manpower Minister Gan Kim Yong said: "For the first two quarters, we expect job layoffs to continue to increase."
Alongside the rising redundancies, employment growth also dropped drastically in the fourth-quarter.
Total employment came in at 26,900 – slowing by more than half as compared to 62,500 in the same period in 2007.
Buoyed by higher figures in the earlier half of the year, total employment in 2008 only increased by 227,200 just slightly lower than that of 234,900 in 2007.
While all sectors experienced a slowdown, the manufacturing sector was the hardest hit. Employment fell by 6,200 in the quarter ended December, its first contraction since 2003.
Mr Gan said: "Some of them may have skills that have to be changed. Some of them may need to look for opportunities in other industries and some may need to go through conversion courses. Our tripartite partners are working with the various companies in the manufacturing sector to preempt retrenchments."
Bucking the trend was the construction industry, with its workforce growing strongly by 64,100 last year, up from gains of 40,400 in 2007.
- Channel New Asia
According to official data from the Ministry of Manpower (MOM) released Friday, about 73,100 Singapore residents were jobless in December, a steep 58 per cent jump year-on-year.
For the whole of 2008, the overall unemployment rate averaged 2.3 per cent (62,900 residents), up from a year ago which was 2.1 per cent (56,700 residents). This is the first time the annual average unemployment rate has increased since 2003, when it peaked at 4.0 per cent.
Deputy secretary-general of National Trades Union Congress (NTUC), Heng Chee How, said: "We knew that the fourth quarter retrenchment was significantly higher. If you look at the overall trends, it is within expectations. The year ahead will be challenging."
The rising unemployment rate was driven by increasing retrenchment as companies cut back on manpower to cope with the global financial meltdown.
Preliminary estimates showed that some 7,000 workers were retrenched in the quarter ended December, up more than three-fold (1,966) from the same period a year ago.
For the entire year, 13,400 workers were retrenched, almost twice that of 7,675 in 2007, mainly due to layoffs in the manufacturing and services sectors.
Layoffs in the services sector jumped four-folds to 3,200 due to retrenchments in financial services and wholesale trade.
With workers released prematurely from their contracts included in the figures, redundancies totalled 16,000 for the whole of 2008.
Acting Manpower Minister Gan Kim Yong said: "For the first two quarters, we expect job layoffs to continue to increase."
Alongside the rising redundancies, employment growth also dropped drastically in the fourth-quarter.
Total employment came in at 26,900 – slowing by more than half as compared to 62,500 in the same period in 2007.
Buoyed by higher figures in the earlier half of the year, total employment in 2008 only increased by 227,200 just slightly lower than that of 234,900 in 2007.
While all sectors experienced a slowdown, the manufacturing sector was the hardest hit. Employment fell by 6,200 in the quarter ended December, its first contraction since 2003.
Mr Gan said: "Some of them may have skills that have to be changed. Some of them may need to look for opportunities in other industries and some may need to go through conversion courses. Our tripartite partners are working with the various companies in the manufacturing sector to preempt retrenchments."
Bucking the trend was the construction industry, with its workforce growing strongly by 64,100 last year, up from gains of 40,400 in 2007.
- Channel New Asia
Unemployment rate rose to 2.6 per cent in December, from 2.2 per cent in September
SINGAPORE'S job growth has slowed significantly, with the manufacturing sector bleeding jobs for the first time since 2003.
Preliminary estimates released on Friday morning by the Manpower Ministry showed 26,900 jobs in all added from October to December last year, half of the gains of 55,700 in the previous quarter.
The whole of last year saw 227,200 jobs being added, down from 234,900 in 2007.
Employment in manufacturing contracted by 6,200 in the fourth quarter last year.
The main driver of the economy, services, also saw fewer jobs added for the third straight quarter.
It added 21,900 jobs, down from a high of 46,500 at the beginning of the year.
Construction added 10,800 jobs, down from 16,500 in the previous quarter.
Both locals and foreigners benefited from employment growth, but local employment grew slower, by 70,400 last year, down from 90,400 in the previous year.
Foreign employment rose by 156,900 last year, up from 144,500 the previous year.
With the downturn deepening, job growth has slowed for both locals and foreigners in the last quarter of the year, the ministry said, without giving figures.
As at December, the workforce was made up of 1.9 million locals (64 per cent) and 1,057,700 foreigners (36 per cent).
The ministry also released figures of workers who were laid off and those who were let go prematurely from their contracts.
A spokesman said this was to give a more complete picture of people who would have lost their jobs.
Their ranks swelled to 8,500 in the fourth quarter of last year, up from 3,178 in the previous quarter.
For the whole of last year, 16,000 workers were made redundant, up from 8,592 the previous year.
Correspondingly, unemployment has risen.
It rose to 2.6 per cent in December, from 2.2 per cent in September.
The unemployment rate averaged 2.3 per cent last year, up from 2.1 per cent in 2007. This is the first time it has risen since the peak of 4 per cent in 2003, the ministry noted.
- The Straits Times
Preliminary estimates released on Friday morning by the Manpower Ministry showed 26,900 jobs in all added from October to December last year, half of the gains of 55,700 in the previous quarter.
The whole of last year saw 227,200 jobs being added, down from 234,900 in 2007.
Employment in manufacturing contracted by 6,200 in the fourth quarter last year.
The main driver of the economy, services, also saw fewer jobs added for the third straight quarter.
It added 21,900 jobs, down from a high of 46,500 at the beginning of the year.
Construction added 10,800 jobs, down from 16,500 in the previous quarter.
Both locals and foreigners benefited from employment growth, but local employment grew slower, by 70,400 last year, down from 90,400 in the previous year.
Foreign employment rose by 156,900 last year, up from 144,500 the previous year.
With the downturn deepening, job growth has slowed for both locals and foreigners in the last quarter of the year, the ministry said, without giving figures.
As at December, the workforce was made up of 1.9 million locals (64 per cent) and 1,057,700 foreigners (36 per cent).
The ministry also released figures of workers who were laid off and those who were let go prematurely from their contracts.
A spokesman said this was to give a more complete picture of people who would have lost their jobs.
Their ranks swelled to 8,500 in the fourth quarter of last year, up from 3,178 in the previous quarter.
For the whole of last year, 16,000 workers were made redundant, up from 8,592 the previous year.
Correspondingly, unemployment has risen.
It rose to 2.6 per cent in December, from 2.2 per cent in September.
The unemployment rate averaged 2.3 per cent last year, up from 2.1 per cent in 2007. This is the first time it has risen since the peak of 4 per cent in 2003, the ministry noted.
- The Straits Times
Jan 29, 2009
Labour movement aims to keep job losses below 29,000 this year
The labour movement is going to do all it can to keep job layoffs under 29,000 this year - the level last seen during the Asian Financial Crisis in 1998.
Analysts have said that Singapore could see unemployment hit a 20-year high in 2009.
Up to 51 million jobs are expected to be lost globally this year.
But the labour movement said Singapore can try and beat the odds to avoid exceeding the high unemployment rate of 5.2 per cent recorded in 2003.
Speaking at NTUC's annual Workplan Seminar on Thursday, Lim Swee Say, Secretary-General, NTUC, and Minister, Prime Minister's Office, said: "We recognise that the odds are against us. But as a labour movement, we refuse to give in to the odds without putting in our very best effort from the labour movement and from our tripartite partners.
"In Singapore we have tripartism, and the tripartism has served us very well. It is a unique advantage, so as we go through this downturn, our challenge is to continue to unleash this unique Singapore advantage."
To keep unemployment low, the labour movement has made four commitments - it wants to be the most pro-business economy in the world, the most pro-worker nation in the world, and have the most united tripartite relationship, with a most caring labour movement.
To fulfil the first commitment, it said it will intensify efforts to help companies cut costs and workers increase productivity.
Mr Lim said the recent Jobs Credit scheme announced during the Budget has already prompted some multinationals to re-look retrenchment plans, and he said the government will be forthcoming with more help for companies if the situation continues to worsen.
Mr Lim also called on workers to build an understanding with employers.
He said: "Both parties are under a lot of stress. So when we are under stress, that is a moment of truth. Some union leaders (and) some management under stress...end up divided. (For) some union leaders (and) some companies under stress, under heat, the heat bonds them together..."
On the worker front, the labour movement said it will ramp up its efforts to help workers re-skill and upgrade their skills.
Already, 170 companies and 7,800 workers have committed to the Skills Programme for Upgrading and Resilience (SPUR).
Singapore has already seen retrenchments in the electronics, chemicals, precision engineering and services sector.
But Mr Lim said the key concern of the labour movement is structural unemployment, because there are new jobs being created in the healthcare, tourism, construction and public sectors.
And the country is expected to receive at least S$10 billion worth of investments from foreign companies this year.
The key challenge is to retrain retrenched workers for these jobs.
The labour movement said it will also continue to help older workers stay employed and help women get back to work.
Last year, NTUC helped 2,329 women find jobs and had 706 unionised companies committed to re-employing 4,659 older workers.
This year, the target is to help another 2,000 women and another 4,500 workers.
And with migrant workers expected to form the bulk of workers retrenched here, NTUC will work with the Singapore National Employers Federation to set up a contact centre for them.
This will offer such workers another place to turn to, besides the Manpower Ministry.
The labour movement has also earmarked S$20 million for vouchers, subsidies and discounts to be distributed to members facing financial difficulties.
Meanwhile, the Labour Movement is reorganising its structure, to deliver its four commitments set out at its annual Workplan Seminar.
From February 1, the Employment and Employability Institute (e2i) will be merged with NTUC's Employment Enhancement Department.
Catering to professionals and rank-and-file workers, e2i offers information on training programmes and new jobs.
Chairing e2i will be NTUC's Assistant Secretary General Ong Ye Kung.
The NTUC Learning Hub, which currently trains about 200,000 workers a year and has an annual revenue of S$30 million, is also set to expand.
Finally, to better align and mobilise union leaders, the Ong Teng Cheong Institute of Labour Studies and the Leadership Development Department of NTUC will be merged to form the Ong Teng Cheong Labour Leadership Institute from February 1.
NTUC Deputy Secretary General Heng Chee How has been appointed the chairman of the Executive Committee of this Institute.
- Channel News Asia
Analysts have said that Singapore could see unemployment hit a 20-year high in 2009.
Up to 51 million jobs are expected to be lost globally this year.
But the labour movement said Singapore can try and beat the odds to avoid exceeding the high unemployment rate of 5.2 per cent recorded in 2003.
Speaking at NTUC's annual Workplan Seminar on Thursday, Lim Swee Say, Secretary-General, NTUC, and Minister, Prime Minister's Office, said: "We recognise that the odds are against us. But as a labour movement, we refuse to give in to the odds without putting in our very best effort from the labour movement and from our tripartite partners.
"In Singapore we have tripartism, and the tripartism has served us very well. It is a unique advantage, so as we go through this downturn, our challenge is to continue to unleash this unique Singapore advantage."
To keep unemployment low, the labour movement has made four commitments - it wants to be the most pro-business economy in the world, the most pro-worker nation in the world, and have the most united tripartite relationship, with a most caring labour movement.
To fulfil the first commitment, it said it will intensify efforts to help companies cut costs and workers increase productivity.
Mr Lim said the recent Jobs Credit scheme announced during the Budget has already prompted some multinationals to re-look retrenchment plans, and he said the government will be forthcoming with more help for companies if the situation continues to worsen.
Mr Lim also called on workers to build an understanding with employers.
He said: "Both parties are under a lot of stress. So when we are under stress, that is a moment of truth. Some union leaders (and) some management under stress...end up divided. (For) some union leaders (and) some companies under stress, under heat, the heat bonds them together..."
On the worker front, the labour movement said it will ramp up its efforts to help workers re-skill and upgrade their skills.
Already, 170 companies and 7,800 workers have committed to the Skills Programme for Upgrading and Resilience (SPUR).
Singapore has already seen retrenchments in the electronics, chemicals, precision engineering and services sector.
But Mr Lim said the key concern of the labour movement is structural unemployment, because there are new jobs being created in the healthcare, tourism, construction and public sectors.
And the country is expected to receive at least S$10 billion worth of investments from foreign companies this year.
The key challenge is to retrain retrenched workers for these jobs.
The labour movement said it will also continue to help older workers stay employed and help women get back to work.
Last year, NTUC helped 2,329 women find jobs and had 706 unionised companies committed to re-employing 4,659 older workers.
This year, the target is to help another 2,000 women and another 4,500 workers.
And with migrant workers expected to form the bulk of workers retrenched here, NTUC will work with the Singapore National Employers Federation to set up a contact centre for them.
This will offer such workers another place to turn to, besides the Manpower Ministry.
The labour movement has also earmarked S$20 million for vouchers, subsidies and discounts to be distributed to members facing financial difficulties.
Meanwhile, the Labour Movement is reorganising its structure, to deliver its four commitments set out at its annual Workplan Seminar.
From February 1, the Employment and Employability Institute (e2i) will be merged with NTUC's Employment Enhancement Department.
Catering to professionals and rank-and-file workers, e2i offers information on training programmes and new jobs.
Chairing e2i will be NTUC's Assistant Secretary General Ong Ye Kung.
The NTUC Learning Hub, which currently trains about 200,000 workers a year and has an annual revenue of S$30 million, is also set to expand.
Finally, to better align and mobilise union leaders, the Ong Teng Cheong Institute of Labour Studies and the Leadership Development Department of NTUC will be merged to form the Ong Teng Cheong Labour Leadership Institute from February 1.
NTUC Deputy Secretary General Heng Chee How has been appointed the chairman of the Executive Committee of this Institute.
- Channel News Asia
Sands spurred to hire the retrenched
THE Marina Bay Sands is ramping up its hiring of retrenched professionals who have undergone retraining, after the Skills Programme for Upgrading and Resilience (Spur) was expanded to give professionals a 90-per-cent subsidy, under the Government’s new Budget.
The integrated resort operator has been busy interviewing 8,000 rank-and-file workers retrained by the National Trades Union Congress (NTUC).
And it is now working with the labour movement’s training arm to fill 2,000 supervisory and management positions.
Sands said it will consider hiring professionals who have undergone the Professional Conversion Programme (PCP).
Said chief executive Ang Hin Kee of the Employment & Employability Institute, E2i: “They’ve agreed to work together to see how we can take advantage of this Budget which will provide more resources.”
Training institutes, including polytechnics and universities, are now designing PCPs for those interested in the tourism sector. More details will be released next month.
Some have questioned if older professionals in their 40s and 50s can truly secure a job even after taking up the PCP.
Asked this yesterday, Acting Manpower Minister Gan Kim Yong advised such unemployed professionals to approach the counsellors at government career centres, who “understand where the career opportunities are” and can “help them be more targeted in the courses they undertake”.
Some employees have also been wondering, since the Government unveiled its Jobs Credit scheme last Thursday: Would employers pass the benefits on to them, if the company bottomline is in good shape?
Mr Gan feels it is “best left to companies to decide” what is “suitable” and “affordable” for them.
While reiterating that the purpose of the scheme is to ensure that companies survive and can “manage wage costs so as to preserve jobs for locals”, Mr Gan did note the National Wages Council’s recommendation that those doing well should consider giving out moderate wage increases.
Under the Jobs Credit scheme, all employers get a cash grant of 12 per cent for the first $2,500 of each Singaporean employee’s wages.
At least one employer, Sesami Group, has told Today that as a consequence, if its bottomline shows growth, employees could see a pay hike as soon as April.
Mr Gan was speaking to reporters yesterday after a recording at MediaCorp studios.
The Chinese “Budget Forum 2009” will be telecast today at 10.30pm on Channel 8.
- TODAY newspaper
The integrated resort operator has been busy interviewing 8,000 rank-and-file workers retrained by the National Trades Union Congress (NTUC).
And it is now working with the labour movement’s training arm to fill 2,000 supervisory and management positions.
Sands said it will consider hiring professionals who have undergone the Professional Conversion Programme (PCP).
Said chief executive Ang Hin Kee of the Employment & Employability Institute, E2i: “They’ve agreed to work together to see how we can take advantage of this Budget which will provide more resources.”
Training institutes, including polytechnics and universities, are now designing PCPs for those interested in the tourism sector. More details will be released next month.
Some have questioned if older professionals in their 40s and 50s can truly secure a job even after taking up the PCP.
Asked this yesterday, Acting Manpower Minister Gan Kim Yong advised such unemployed professionals to approach the counsellors at government career centres, who “understand where the career opportunities are” and can “help them be more targeted in the courses they undertake”.
Some employees have also been wondering, since the Government unveiled its Jobs Credit scheme last Thursday: Would employers pass the benefits on to them, if the company bottomline is in good shape?
Mr Gan feels it is “best left to companies to decide” what is “suitable” and “affordable” for them.
While reiterating that the purpose of the scheme is to ensure that companies survive and can “manage wage costs so as to preserve jobs for locals”, Mr Gan did note the National Wages Council’s recommendation that those doing well should consider giving out moderate wage increases.
Under the Jobs Credit scheme, all employers get a cash grant of 12 per cent for the first $2,500 of each Singaporean employee’s wages.
At least one employer, Sesami Group, has told Today that as a consequence, if its bottomline shows growth, employees could see a pay hike as soon as April.
Mr Gan was speaking to reporters yesterday after a recording at MediaCorp studios.
The Chinese “Budget Forum 2009” will be telecast today at 10.30pm on Channel 8.
- TODAY newspaper
Jan 28, 2009
Jobs Credit scheme may help lessen impact of job cuts
Singaporeans are unlikely to be spared from the wave of global job losses. But Acting Manpower Minister Gan Kim Yong hopes the tripartite relationship in Singapore can help lessen its impact on workers here.
Job cuts in Singapore were unavoidable when consumer electronics giant Philips announced global manpower cuts last month, and Mr Gan said retrenchments are set to worsen.
"They'll be MNCs in Singapore which will have to take into account decisions by their headquarters. But that is where our tripartite relations are very important.
"Many of these MNCs work very closely with the unions and we want to convince them that the tripartite relationship in Singapore is very different from what they have back home," he said.
The acting manpower minister said the new Jobs Credit scheme, unveiled last week by Finance Minister Tharman Shanmugaratnam, will help local management persuade their head offices to reconsider any job cuts.
The Jobs Credit scheme is designed to help employers with their cash flow, while providing an incentive to retain workers.
But the question remains on how much of these benefits would, or should, be passed down to the employee? Mr Gan said it all depends on the individual company – for instance, companies that can afford it could offer moderate wage increases or a one-off bonus.
He also explained the decision to pay out the wage rebate quarterly.
"If we offer a monthly Jobs Credit, there is a risk that the company may retrench the worker (after) a month... whereas if you pay out on a quarterly basis, it means the company has to keep the worker for at least a quarter," Mr Gan said.
He was speaking on Wednesday after recording "Budget Forum 2009" which will be shown on Thursday January 29, at 10.30pm on MediaCorp's Channel 8.
- Channel News Asia
Job cuts in Singapore were unavoidable when consumer electronics giant Philips announced global manpower cuts last month, and Mr Gan said retrenchments are set to worsen.
"They'll be MNCs in Singapore which will have to take into account decisions by their headquarters. But that is where our tripartite relations are very important.
"Many of these MNCs work very closely with the unions and we want to convince them that the tripartite relationship in Singapore is very different from what they have back home," he said.
The acting manpower minister said the new Jobs Credit scheme, unveiled last week by Finance Minister Tharman Shanmugaratnam, will help local management persuade their head offices to reconsider any job cuts.
The Jobs Credit scheme is designed to help employers with their cash flow, while providing an incentive to retain workers.
But the question remains on how much of these benefits would, or should, be passed down to the employee? Mr Gan said it all depends on the individual company – for instance, companies that can afford it could offer moderate wage increases or a one-off bonus.
He also explained the decision to pay out the wage rebate quarterly.
"If we offer a monthly Jobs Credit, there is a risk that the company may retrench the worker (after) a month... whereas if you pay out on a quarterly basis, it means the company has to keep the worker for at least a quarter," Mr Gan said.
He was speaking on Wednesday after recording "Budget Forum 2009" which will be shown on Thursday January 29, at 10.30pm on MediaCorp's Channel 8.
- Channel News Asia
Singapore spared from Microsoft job cuts
MICROSOFT'S Singapore operations, along with its other subsidiaries in the South-east Asia region, will largely be spared from a first round of job cuts which will see the axing of 1,400 positions globally.
The planned reductions, to be executed immediately, is the precursor to subsequent waves of retrenchment which will see Microsoft shedding 5,000 jobs or nearly 5 per cent of its global workforce over the next 18 months.
While the cuts are the most severe in its 34-year history, the silver lining for Microsoft employees in Asia is that only a handful of jobs are on the line.
'I can confirm that the number of employees affected by the immediate job eliminations is a single-digit number across Asia-Pacific, excluding China, India and Japan,' a company spokeswoman told BizIT.
'I can also confirm that there is no impact to the Microsoft Singapore subsidiary as a result of the immediate job eliminations,' she added.
A check on some recruitment sites and the Microsoft job portal revealed that the world's largest software company is in fact still recruiting for various local positions. Vacancies include a 'business group lead' for Microsoft Singapore, and an applications consultant for clinical systems.
Singapore currently plays host to over 600 Microsoft employees across three major divisions - Microsoft Singapore, Microsoft APAC (Asia-Pacific) Regional HQ, and Microsoft Asia-Pacific.
While the company has been reaping bustling sales as a result of growing computer penetration in the last few years, its fortunes are starting to take a turn for the worse with PC sales being hit because of the economic downturn.
In Asia, PC shipment growth stalled to a six-year low in the last quarter of 2008, crimping sales for Microsoft's Windows PC operating system. According to estimates from technology research firm Gartner Inc, computer shipments in Asia grew a mere 1.8 per cent from a year earlier to hit 19.5 million units for the three months ended Dec 31.
- The Business Times
The planned reductions, to be executed immediately, is the precursor to subsequent waves of retrenchment which will see Microsoft shedding 5,000 jobs or nearly 5 per cent of its global workforce over the next 18 months.
While the cuts are the most severe in its 34-year history, the silver lining for Microsoft employees in Asia is that only a handful of jobs are on the line.
'I can confirm that the number of employees affected by the immediate job eliminations is a single-digit number across Asia-Pacific, excluding China, India and Japan,' a company spokeswoman told BizIT.
'I can also confirm that there is no impact to the Microsoft Singapore subsidiary as a result of the immediate job eliminations,' she added.
A check on some recruitment sites and the Microsoft job portal revealed that the world's largest software company is in fact still recruiting for various local positions. Vacancies include a 'business group lead' for Microsoft Singapore, and an applications consultant for clinical systems.
Singapore currently plays host to over 600 Microsoft employees across three major divisions - Microsoft Singapore, Microsoft APAC (Asia-Pacific) Regional HQ, and Microsoft Asia-Pacific.
While the company has been reaping bustling sales as a result of growing computer penetration in the last few years, its fortunes are starting to take a turn for the worse with PC sales being hit because of the economic downturn.
In Asia, PC shipment growth stalled to a six-year low in the last quarter of 2008, crimping sales for Microsoft's Windows PC operating system. According to estimates from technology research firm Gartner Inc, computer shipments in Asia grew a mere 1.8 per cent from a year earlier to hit 19.5 million units for the three months ended Dec 31.
- The Business Times
Jan 24, 2009
Firms rethink cost-cutting measures
A DAY after the Government sprang its surprise of a cash grant to help employers retain local workers, one firm told Today it would rethink its retrenchment plans — while another plans to pass the money on to staff in some way.
A local small-and-medium enterprise (SME) in the graphics industry said it will “reconsider” axing jobs after the Chinese New Year. The Jobs Credit scheme, where the Government will reimburse employers 12 per cent of the first $2,500 of a local employee’s monthly pay, “will go a long way to ease the pressures”, a spokesman said.
But, he added, if the economy deteriorates further, the firm may have “no choice”.
Most employers Today spoke to said they would digest the Budget 2009 measures — the key aim of which is to save jobs — and review plans after the festive break.
It could be premature, however, for employees to hope their companies will roll back cost-cutting measures already in place.
Labour economist Chew Soon Beng explained: “With this new scheme, (firms) may not retrench because they have an extra plan. But if they have implemented a plan for workers to share work so they can take no-pay leave, they may continue with it because you never know what is going to happen next year.”
Workers would understand if they do not see any immediate trickle-down effects of the Jobs Credit scheme, some unionists felt.
“They know that this helpline is for the company,” said Mr Francis Lim, president of the United Workers Electronic & Electrical Industry. “If orders don’t come in, the company will still have to close down or lay off. The Budget will help cushion the low demand” and, hopefully, lead companies that want to retrench to do it later instead of sooner, he added.
But at least one employer is enthused about passing on at least part of the Government’s grant for businesses to its staff.
Chief executive of IT-company Seasami Goup, Ong Teck Soon, said that while he would not revise base salaries, employees “will be rewarded” through the monthly variable component that makes up one-third of their total earnings.
If the company’s bottomline shows growth after costs and revenue have been accounted for, employees could enjoy a higher pay as soon as April, he said.
The Government will distribute the first of four quarterly Jobs Credit payments at the end of March. And with this “very imminent” cash injection in sight, companies will “definitely review cost cutting measures”, said Mr Koh Juan Kiat, executive director of the Singapore National Employers’ Federation.
It could take one to two weeks for employers to review the scheme’s actual impact, which would be more significant for some, depending on the type of worker and his wages, said Mr Koh.
SMEs will likely “sit down and review their salary structure”, said president of the Association of Small and Medium Entreprises Lawrence Leow. If a company has 10 employees drawing $2,500 a month, it could save $3,000 a month – that’s the equivalent of one job, he added.
And while most companies are trying their best to retain headcount, at least one company has made expansion plans. Ms May Foo, vice president for human resources at Apex-Pal, said the company could use the funds from the cash grant to hire more staff for its new Sakae Sushi outlets.
In a statement on Friday, the National Trades Union Congress termed the $20.5 billion Resilience Package, and the decision to draw on the nation’s reserves for the first time to fund the $4.5-billion Job Credit Scheme, “bold” and “decisive”.
It will have a “significant impact on workers, companies and our economy”, said the NTUC.
- TODAY newspaper
A local small-and-medium enterprise (SME) in the graphics industry said it will “reconsider” axing jobs after the Chinese New Year. The Jobs Credit scheme, where the Government will reimburse employers 12 per cent of the first $2,500 of a local employee’s monthly pay, “will go a long way to ease the pressures”, a spokesman said.
But, he added, if the economy deteriorates further, the firm may have “no choice”.
Most employers Today spoke to said they would digest the Budget 2009 measures — the key aim of which is to save jobs — and review plans after the festive break.
It could be premature, however, for employees to hope their companies will roll back cost-cutting measures already in place.
Labour economist Chew Soon Beng explained: “With this new scheme, (firms) may not retrench because they have an extra plan. But if they have implemented a plan for workers to share work so they can take no-pay leave, they may continue with it because you never know what is going to happen next year.”
Workers would understand if they do not see any immediate trickle-down effects of the Jobs Credit scheme, some unionists felt.
“They know that this helpline is for the company,” said Mr Francis Lim, president of the United Workers Electronic & Electrical Industry. “If orders don’t come in, the company will still have to close down or lay off. The Budget will help cushion the low demand” and, hopefully, lead companies that want to retrench to do it later instead of sooner, he added.
But at least one employer is enthused about passing on at least part of the Government’s grant for businesses to its staff.
Chief executive of IT-company Seasami Goup, Ong Teck Soon, said that while he would not revise base salaries, employees “will be rewarded” through the monthly variable component that makes up one-third of their total earnings.
If the company’s bottomline shows growth after costs and revenue have been accounted for, employees could enjoy a higher pay as soon as April, he said.
The Government will distribute the first of four quarterly Jobs Credit payments at the end of March. And with this “very imminent” cash injection in sight, companies will “definitely review cost cutting measures”, said Mr Koh Juan Kiat, executive director of the Singapore National Employers’ Federation.
It could take one to two weeks for employers to review the scheme’s actual impact, which would be more significant for some, depending on the type of worker and his wages, said Mr Koh.
SMEs will likely “sit down and review their salary structure”, said president of the Association of Small and Medium Entreprises Lawrence Leow. If a company has 10 employees drawing $2,500 a month, it could save $3,000 a month – that’s the equivalent of one job, he added.
And while most companies are trying their best to retain headcount, at least one company has made expansion plans. Ms May Foo, vice president for human resources at Apex-Pal, said the company could use the funds from the cash grant to hire more staff for its new Sakae Sushi outlets.
In a statement on Friday, the National Trades Union Congress termed the $20.5 billion Resilience Package, and the decision to draw on the nation’s reserves for the first time to fund the $4.5-billion Job Credit Scheme, “bold” and “decisive”.
It will have a “significant impact on workers, companies and our economy”, said the NTUC.
- TODAY newspaper
Jan 23, 2009
MM: Help to save jobs
A DAY after the Government unveiled a $20.5 billion package to deal with the downturn, this message rang out to employers, banks and retail landlords: It's your turn to take the help given and do the right thing.
For employers, it means keeping workers on the payroll, now that the Government is pitching in to subsidise wage bills.
For banks, it means lending to companies, now that the Government will bear more risk of the loans defaulting.
And for landlords, it means passing savings from property tax rebates to their shop tenants.
Saving jobs was uppermost on Minister Mentor Lee Kuan Yew's mind, when asked his reaction to this year's Budget.
'The Budget is meant to save jobs,' he told reporters during a visit to the East Coast Park.
'That's the first thing we have to do because there's no better way of fighting this recession than to save jobs.'
He said there was a big question over when the downturn would end.
'We're prepared for all eventualities. It might last one year, two years, may go on to three years. We don't know, but we've got to be prepared for it,' he said.
The lower-income and those out of work or retrenched would need help to get through this rough patch, he noted. The $2.6 billion worth of measures to help them were neither over-generous nor ungenerous, he said.
A key plank of the Budget is a novel $4.5 billion Jobs Credit Scheme through which the Government will pay a portion of employers' wage bill - 12 per cent of the first $2,500 of the monthly wage of Singaporeans and permanent residents.
But the question is whether employers will, in turn, help their workers.
'With the Government doing its part, there is now a great deal of moral responsibility put onto businesses to do their part - keep jobs intact,' said political observer Gillian Koh from the Institute of Policy Studies.
Mr Koh Juan Kiat, executive director of the Singapore National Employers' Federation, said the subsidy could mean a 5 to 10 per cent cut in wage costs, which was 'quite significant'. But he felt it was too early to judge how employers will act.
The labour movement was optimistic.
In a statement, labour chief Lim Swee Say and NTUC president John De Payva said that the $20.5 billion 'resilience package' would have a significant impact on workers, companies and the economy.
'This is reflective of the Government's clear commitment and best efforts to save jobs for Singaporeans,' they added.
'It gives us tremendous assurance, encouragement and confidence to stay the path of tripartism, a unique advantage Singapore has over other nations.'
Pasir Ris-Punggol GRC MP Ahmad Magad thinks it will all boil down to companies' cash flow.
'It will undoubtedly save some jobs, especially in bigger organisations which have deeper pockets,' he said.
But for smaller companies, he added, much would depend on how much revenue they can generate.
This is where the second plank of the Budget - access to bank credit - comes in.
The Government introduced a Special Risk Sharing Initiative yesterday which will see it set aside $5.8 billion in capital to take on more risk in bank lending to companies.
Giving details yesterday, Trade and Industry Minister Lim Hng Kiang said he hoped banks would now play their part and extend credit to companies that need working capital.
- The Straits Times
For employers, it means keeping workers on the payroll, now that the Government is pitching in to subsidise wage bills.
For banks, it means lending to companies, now that the Government will bear more risk of the loans defaulting.
And for landlords, it means passing savings from property tax rebates to their shop tenants.
Saving jobs was uppermost on Minister Mentor Lee Kuan Yew's mind, when asked his reaction to this year's Budget.
'The Budget is meant to save jobs,' he told reporters during a visit to the East Coast Park.
'That's the first thing we have to do because there's no better way of fighting this recession than to save jobs.'
He said there was a big question over when the downturn would end.
'We're prepared for all eventualities. It might last one year, two years, may go on to three years. We don't know, but we've got to be prepared for it,' he said.
The lower-income and those out of work or retrenched would need help to get through this rough patch, he noted. The $2.6 billion worth of measures to help them were neither over-generous nor ungenerous, he said.
A key plank of the Budget is a novel $4.5 billion Jobs Credit Scheme through which the Government will pay a portion of employers' wage bill - 12 per cent of the first $2,500 of the monthly wage of Singaporeans and permanent residents.
But the question is whether employers will, in turn, help their workers.
'With the Government doing its part, there is now a great deal of moral responsibility put onto businesses to do their part - keep jobs intact,' said political observer Gillian Koh from the Institute of Policy Studies.
Mr Koh Juan Kiat, executive director of the Singapore National Employers' Federation, said the subsidy could mean a 5 to 10 per cent cut in wage costs, which was 'quite significant'. But he felt it was too early to judge how employers will act.
The labour movement was optimistic.
In a statement, labour chief Lim Swee Say and NTUC president John De Payva said that the $20.5 billion 'resilience package' would have a significant impact on workers, companies and the economy.
'This is reflective of the Government's clear commitment and best efforts to save jobs for Singaporeans,' they added.
'It gives us tremendous assurance, encouragement and confidence to stay the path of tripartism, a unique advantage Singapore has over other nations.'
Pasir Ris-Punggol GRC MP Ahmad Magad thinks it will all boil down to companies' cash flow.
'It will undoubtedly save some jobs, especially in bigger organisations which have deeper pockets,' he said.
But for smaller companies, he added, much would depend on how much revenue they can generate.
This is where the second plank of the Budget - access to bank credit - comes in.
The Government introduced a Special Risk Sharing Initiative yesterday which will see it set aside $5.8 billion in capital to take on more risk in bank lending to companies.
Giving details yesterday, Trade and Industry Minister Lim Hng Kiang said he hoped banks would now play their part and extend credit to companies that need working capital.
- The Straits Times
Jan 21, 2009
Jobless may hit 300,000
A NEW Credit Suisse report has predicted an astonishing 300,000 jobs could be lost in Singapore this year and next.
Most of the affected would be foreigners, who would then have to leave the country, leading to a drop in Singapore's population, it said.
But other economists and industry body heads say the Credit Suisse figure is extreme, even in an unprecedented crisis such as this one.
Monday's report was written by Singapore-based Credit Suisse economists Cem Karacadag and Kun Lung Wu.
They estimated that notwithstanding government action, a deep, economy-wide recession will mean that 160,000 jobs could be lost in the services sector, another 100,000 from manufacturing and about 40,000 in construction over this year and next.
Most of the job losses would be from the 725,000 new jobs created over the past five years and were filled mainly by foreigners, who make up a quarter of the population here.
'As harsh as our assumptions may seem, they only imply that the economy gives up all of the jobs it created in 2008 and a portion of the new jobs in 2007,' they wrote.
Of the total, 200,000 would be foreigners and permanent residents (PRs) who, assuming they leave Singapore, would reduce its population by around 160,000 to 4.68 million.
The drop in population would have serious implications for any economic recovery as it would lead to a fall in private consumption, a surge in unemployment to 5.6 per cent in 2010 - it was 2.2 per cent last September - and a plunge in residential property prices.
The figures represent a loss of about 10 per cent of Singapore's workforce of just under three million. By comparison, the Asian financial crisis led to job losses of over 30,000, or about 1.4 per cent of the workforce.
However, other economists say the numbers are far too bearish - even given the severity of the global crisis. OCBC economist Selena Ling said: 'The socio-economic implications of that would be severe... The figures discount the Government policy responses which would kick in before we get to that stage.'
CIMB-GK economist Song Seng Wun said: 'Our labour growth has been well above trend... so job losses of that magnitude are not unimaginable.
'But the Government has indicated that it is willing to dip into the reserves, and it has shown a strong response to the crisis right from the word go.'
Still they believe that in a worst case scenario, job losses here could reach 100,000.
President of the Singapore Manufacturers' Federation Renny Yeo also disputed the numbers. He said Singapore has seen growth in higher-end manufacturing industries such as biotech, and renewable energy which are not as susceptible to a dip in consumer demand. The manufacturing sector employs about 230,000.
The report comes just days before the Budget announcement on Thursday, which will set the tone for how the Government plans to tackle a worsening recession.
In Parliament on Monday, ministers faced questions from MPs over the job market. Acting Minister for Manpower Gan Kim Yong said that job losses this year could exceed 30,000, while Minister for Trade and Industry Lim Hng Kiang said more than 30,000 new jobs would be created this year.
- The Straits Times
Most of the affected would be foreigners, who would then have to leave the country, leading to a drop in Singapore's population, it said.
But other economists and industry body heads say the Credit Suisse figure is extreme, even in an unprecedented crisis such as this one.
Monday's report was written by Singapore-based Credit Suisse economists Cem Karacadag and Kun Lung Wu.
They estimated that notwithstanding government action, a deep, economy-wide recession will mean that 160,000 jobs could be lost in the services sector, another 100,000 from manufacturing and about 40,000 in construction over this year and next.
Most of the job losses would be from the 725,000 new jobs created over the past five years and were filled mainly by foreigners, who make up a quarter of the population here.
'As harsh as our assumptions may seem, they only imply that the economy gives up all of the jobs it created in 2008 and a portion of the new jobs in 2007,' they wrote.
Of the total, 200,000 would be foreigners and permanent residents (PRs) who, assuming they leave Singapore, would reduce its population by around 160,000 to 4.68 million.
The drop in population would have serious implications for any economic recovery as it would lead to a fall in private consumption, a surge in unemployment to 5.6 per cent in 2010 - it was 2.2 per cent last September - and a plunge in residential property prices.
The figures represent a loss of about 10 per cent of Singapore's workforce of just under three million. By comparison, the Asian financial crisis led to job losses of over 30,000, or about 1.4 per cent of the workforce.
However, other economists say the numbers are far too bearish - even given the severity of the global crisis. OCBC economist Selena Ling said: 'The socio-economic implications of that would be severe... The figures discount the Government policy responses which would kick in before we get to that stage.'
CIMB-GK economist Song Seng Wun said: 'Our labour growth has been well above trend... so job losses of that magnitude are not unimaginable.
'But the Government has indicated that it is willing to dip into the reserves, and it has shown a strong response to the crisis right from the word go.'
Still they believe that in a worst case scenario, job losses here could reach 100,000.
President of the Singapore Manufacturers' Federation Renny Yeo also disputed the numbers. He said Singapore has seen growth in higher-end manufacturing industries such as biotech, and renewable energy which are not as susceptible to a dip in consumer demand. The manufacturing sector employs about 230,000.
The report comes just days before the Budget announcement on Thursday, which will set the tone for how the Government plans to tackle a worsening recession.
In Parliament on Monday, ministers faced questions from MPs over the job market. Acting Minister for Manpower Gan Kim Yong said that job losses this year could exceed 30,000, while Minister for Trade and Industry Lim Hng Kiang said more than 30,000 new jobs would be created this year.
- The Straits Times
Singaporeans braced for job losses
SINGAPOREANS are digging their heels in, lowering their wage expectations and aspirations as they brace themselves for possible unemployment.
Mr Michael Guo, 30, ran a business distributing portable electronic media players, but decided to 'put his aspirations aside' for the time being.
'I hope to find an office job to support my family now,' said the father of a two-year-old daughter.
He added: 'I have a diploma in electrical engineering, but it doesn't matter which sector I work in for now. I'd be happy just to land a job.'
Like him, a retrenched human resource director told my paper that she would gladly take a pay cut to land a job.
The single mother, who wished to be known only as Jolene, said: 'I've sent out 60 to 80 resumes to all sorts of companies, including those in the civil service, since I was retrenched last November. I'm quite ready to take a pay cut.'
To increase her chances of re-employment, she has applied for sponsorship from the Workforce Development Agency to take up a master's programme in hospitality.
Yesterday, Trade and Industry Minister Lim Hng Kiang told Parliament that there are still plenty of jobs available.
Construction, information and communications, health care, education and the civil service are sectors which are still hiring, he said.
The minister also urged workers to retrain and upgrade their skills to stay employable.
Mr Adrian Tan, 30, managing director of RecruitPlus Consulting, agreed.
'They (those above 40) should upgrade their skills as Singapore is, and will remain, a society that measures workers by their paper qualifications,' said the boss of the five-year-old agency, which specialises in placing jobs for the logistics and health-care industries.
'With their extensive experience, they have leverage over fresh graduates as they would require less training to acclimatise to new working conditions.'
- my paper
Mr Michael Guo, 30, ran a business distributing portable electronic media players, but decided to 'put his aspirations aside' for the time being.
'I hope to find an office job to support my family now,' said the father of a two-year-old daughter.
He added: 'I have a diploma in electrical engineering, but it doesn't matter which sector I work in for now. I'd be happy just to land a job.'
Like him, a retrenched human resource director told my paper that she would gladly take a pay cut to land a job.
The single mother, who wished to be known only as Jolene, said: 'I've sent out 60 to 80 resumes to all sorts of companies, including those in the civil service, since I was retrenched last November. I'm quite ready to take a pay cut.'
To increase her chances of re-employment, she has applied for sponsorship from the Workforce Development Agency to take up a master's programme in hospitality.
Yesterday, Trade and Industry Minister Lim Hng Kiang told Parliament that there are still plenty of jobs available.
Construction, information and communications, health care, education and the civil service are sectors which are still hiring, he said.
The minister also urged workers to retrain and upgrade their skills to stay employable.
Mr Adrian Tan, 30, managing director of RecruitPlus Consulting, agreed.
'They (those above 40) should upgrade their skills as Singapore is, and will remain, a society that measures workers by their paper qualifications,' said the boss of the five-year-old agency, which specialises in placing jobs for the logistics and health-care industries.
'With their extensive experience, they have leverage over fresh graduates as they would require less training to acclimatise to new working conditions.'
- my paper
Jan 20, 2009
Hospital subsidy: Layoffs taken into account
THE Health Ministry will give the maximum subsidy to hospital patients who have been laid off.
For those who have had a wage cut, the subsidy level will still be based on the average wage figures reported to the Central Provident Fund Board in the past 12 months - which will include the last drawn salary, a Health Ministry spokesman told The Straits Times yesterday.
She was elaborating on Health Minister Khaw Boon Wan's written reply to Madam Halimah Yacob (Jurong GRC), the chairman of the Government Parliamentary Committee for Health, on the criteria for means testing during the current recession.
In Mr Khaw's reply to Parliament, released yesterday, he said his ministry would take into account the new economic situation of workers who were laid off or suffered pay cuts when deciding on the level of subsidy for hospital patients.
'Retrenched (workers) and workers suffering pay cuts should not be adversely affected by means testing,' he said.
With means testing in place since Jan 1, anyone, rich or poor, can opt for the most highly subsidised ward classes, but the better-off will receive less financial help from the Government.
Singaporeans earning on average $3,200 and less a month get the full 80 per cent subsidy in C-class wards and 65 per cent in B2 class.
Those earning $5,201 or more get the minimum subsidy of 65 per cent in C class and 50 per cent in B2 class.
Madam Halimah had asked whether the ministry would review its practice of relying on average earnings over 12 months to set the level of subsidy, given that people might have had pay cuts.
Mr Khaw said it would continue this practice for 'practical reasons'.
However, Singaporean workers who had a significant change in wages in recent months will have their cases taken into account, but the patients will need to show proof, with documents, he added.
While a retrenched person will receive the full subsidy, a person with no income for more than the 12-month period will have his subsidy rate pegged to the value of his home.
He will get the maximum subsidy unless he lives in a home with an annual value exceeding $11,000. Almost every HDB home is valued below $11,000.
All jobless residents of HDB flats - excluding executive condominiums - are entitled to the full subsidy.
Mr David Ang, general manager of the Singapore Professionals' and Executives' Co-operative, feels the approach may cause grief to some professionals. He noted that jobless people living in big homes might not qualify for the full subsidy.
In his reply, Mr Khaw said 91 per cent of patients opting for B2- and C-class wards received the maximum subsidy, while the rest, belonging to the higher-income group, continue to be 'heavily subsidised'.
'The design parameters have been deliberately set to be generous,' he said.
- The Straits Times
For those who have had a wage cut, the subsidy level will still be based on the average wage figures reported to the Central Provident Fund Board in the past 12 months - which will include the last drawn salary, a Health Ministry spokesman told The Straits Times yesterday.
She was elaborating on Health Minister Khaw Boon Wan's written reply to Madam Halimah Yacob (Jurong GRC), the chairman of the Government Parliamentary Committee for Health, on the criteria for means testing during the current recession.
In Mr Khaw's reply to Parliament, released yesterday, he said his ministry would take into account the new economic situation of workers who were laid off or suffered pay cuts when deciding on the level of subsidy for hospital patients.
'Retrenched (workers) and workers suffering pay cuts should not be adversely affected by means testing,' he said.
With means testing in place since Jan 1, anyone, rich or poor, can opt for the most highly subsidised ward classes, but the better-off will receive less financial help from the Government.
Singaporeans earning on average $3,200 and less a month get the full 80 per cent subsidy in C-class wards and 65 per cent in B2 class.
Those earning $5,201 or more get the minimum subsidy of 65 per cent in C class and 50 per cent in B2 class.
Madam Halimah had asked whether the ministry would review its practice of relying on average earnings over 12 months to set the level of subsidy, given that people might have had pay cuts.
Mr Khaw said it would continue this practice for 'practical reasons'.
However, Singaporean workers who had a significant change in wages in recent months will have their cases taken into account, but the patients will need to show proof, with documents, he added.
While a retrenched person will receive the full subsidy, a person with no income for more than the 12-month period will have his subsidy rate pegged to the value of his home.
He will get the maximum subsidy unless he lives in a home with an annual value exceeding $11,000. Almost every HDB home is valued below $11,000.
All jobless residents of HDB flats - excluding executive condominiums - are entitled to the full subsidy.
Mr David Ang, general manager of the Singapore Professionals' and Executives' Co-operative, feels the approach may cause grief to some professionals. He noted that jobless people living in big homes might not qualify for the full subsidy.
In his reply, Mr Khaw said 91 per cent of patients opting for B2- and C-class wards received the maximum subsidy, while the rest, belonging to the higher-income group, continue to be 'heavily subsidised'.
'The design parameters have been deliberately set to be generous,' he said.
- The Straits Times
Outlook less rosy for new grads
Despite the gloomy economic forecast for 2009, there are still growth areas in the healthcare, education and tourism sectors that will see continuing demand for workers, said Mr Gan in his written reply to a question from Holland-Bukit Timah GRC MP Liang Eng Hwa in Parliament on Monday.
Fresh graduates finding it tough to land a job should consider taking up post-grad studies during the economic downturn and start working when the job market improves, Acting Minister for Manpower Gan Kim Yong has suggested.
In his reply, Mr Gan said:
The employment outlook for new graduates in 2009 will be less rosy compared to 2007 and 2008. This is to be expected given the weak economic outlook for 2009.
Nonetheless, there are still growth areas that will see continuing demand for workers.
For example, the healthcare sector will continue growing over the next two years with the development of healthcare facilities such as the opening of the new Khoo Teck Puat Hospital. The Ministry of Health (MOH) said it now has 6,200 job vacancies, of which 4,500 will be filled in the next two years.
The civil service will also continue hiring; for example, the Ministry of Education recently announced that it will be hiring more than 7,000 teachers and support staff in 2009; while the Ministry of Home Affairs is looking to fill more than 1,000 vacancies across the various Home Team departments.
New jobs will also be created from the pipeline of new investments that will materialise in the manufacturing industry, such as pharmaceuticals and renewable energy.
In the tourism sector, the integrated resorts have also started their hiring efforts and are expected to provide more than 20,000 jobs, including at the PMET level, over the next few years. Graduates are encouraged to seek out these various opportunities and be realistic about job and wage expectations.
The Ministry of Manpower will continue to provide comprehensive and timely information on careers, jobs and skills in demand through the Career Compass, a career guide for students.
The pilot edition of the Career Compass was launched in February last year and students have found the career guide useful in helping them gain a better understanding of the opportunities in the job market, and make more informed choices on the courses of study and careers.
MOM has launched the latest edition of the Career Compass on a dedicated internet portal and is actively engaging the various Post Secondary Educational Institutions (PSEIs) to maximize our outreach efforts.
MOM and WDA will also be working with the PSEIs to organise job fairs for graduating students. Our universities and polytechnics are also stepping up their efforts to secure job placements for its graduates.
Besides organising career fairs, recruitment talks and career counselling, they have kept in close touch with industries and firms from hiring sectors.
For example, NUS Career Centre will intensify its work to engage more industries, including those from growth sectors such as gaming, environment and clean energy, to help find jobs for their graduates.
Our graduates must also make an extra effort to learn about the available jobs in the different sectors and be open to these various jobs which may not be what they have hoped for initially.
Some of the graduating students may consider proceeding with post-graduate education to acquire more knowledge and skills and enter the job market later when the situation has improved.
Various economic agencies also offer scholarships, such as MAS’s Finance Scholarship Programme, STB’s Tourism Industry Scholarships, and EDB’s Joint Industry Postgraduate Programme.
These aim to build up a critical mass of specialists in targeted fields. Fresh graduates can consider participating in these programmes to continue their post-graduate studies.
EDB has also announced a new training initiative, PREP-UP (Preparing for the Upturn), to help companies develop manpower capabilities in science and technology fields, which will open up even more opportunities for fresh graduates.
We will monitor the employment situation closely and assess whether more needs to be done to help new graduates access job opportunities.
- The Straits Times
Fresh graduates finding it tough to land a job should consider taking up post-grad studies during the economic downturn and start working when the job market improves, Acting Minister for Manpower Gan Kim Yong has suggested.
In his reply, Mr Gan said:
The employment outlook for new graduates in 2009 will be less rosy compared to 2007 and 2008. This is to be expected given the weak economic outlook for 2009.
Nonetheless, there are still growth areas that will see continuing demand for workers.
For example, the healthcare sector will continue growing over the next two years with the development of healthcare facilities such as the opening of the new Khoo Teck Puat Hospital. The Ministry of Health (MOH) said it now has 6,200 job vacancies, of which 4,500 will be filled in the next two years.
The civil service will also continue hiring; for example, the Ministry of Education recently announced that it will be hiring more than 7,000 teachers and support staff in 2009; while the Ministry of Home Affairs is looking to fill more than 1,000 vacancies across the various Home Team departments.
New jobs will also be created from the pipeline of new investments that will materialise in the manufacturing industry, such as pharmaceuticals and renewable energy.
In the tourism sector, the integrated resorts have also started their hiring efforts and are expected to provide more than 20,000 jobs, including at the PMET level, over the next few years. Graduates are encouraged to seek out these various opportunities and be realistic about job and wage expectations.
The Ministry of Manpower will continue to provide comprehensive and timely information on careers, jobs and skills in demand through the Career Compass, a career guide for students.
The pilot edition of the Career Compass was launched in February last year and students have found the career guide useful in helping them gain a better understanding of the opportunities in the job market, and make more informed choices on the courses of study and careers.
MOM has launched the latest edition of the Career Compass on a dedicated internet portal and is actively engaging the various Post Secondary Educational Institutions (PSEIs) to maximize our outreach efforts.
MOM and WDA will also be working with the PSEIs to organise job fairs for graduating students. Our universities and polytechnics are also stepping up their efforts to secure job placements for its graduates.
Besides organising career fairs, recruitment talks and career counselling, they have kept in close touch with industries and firms from hiring sectors.
For example, NUS Career Centre will intensify its work to engage more industries, including those from growth sectors such as gaming, environment and clean energy, to help find jobs for their graduates.
Our graduates must also make an extra effort to learn about the available jobs in the different sectors and be open to these various jobs which may not be what they have hoped for initially.
Some of the graduating students may consider proceeding with post-graduate education to acquire more knowledge and skills and enter the job market later when the situation has improved.
Various economic agencies also offer scholarships, such as MAS’s Finance Scholarship Programme, STB’s Tourism Industry Scholarships, and EDB’s Joint Industry Postgraduate Programme.
These aim to build up a critical mass of specialists in targeted fields. Fresh graduates can consider participating in these programmes to continue their post-graduate studies.
EDB has also announced a new training initiative, PREP-UP (Preparing for the Upturn), to help companies develop manpower capabilities in science and technology fields, which will open up even more opportunities for fresh graduates.
We will monitor the employment situation closely and assess whether more needs to be done to help new graduates access job opportunities.
- The Straits Times
Jan 19, 2009
Not your dream job? Take heart
This can be a pretty depressing time if you're a fresh graduate because we all know that with the current financial crisis, landing a dream job is likely to remain just that - a dream - at least for some time.
But take heart that you are in your 20s. You are likely to be working for at least another 20, 30 or even 40 years, so don't be too anxious if you are unable to start work immediately after graduation, or if you land a job that appears less than ideal.
Still, there is no doubt that this is the time when your resourcefulness and resilience will be tested. It takes loads of patience to scour the recruitment pages of The Straits Times daily for jobs and, hopefully, make the rounds of interviews.
If you are not defeated by them, then you will be mentally stronger. When you learn to deal positively with rejections and come out with creative responses, you are building your strength of character.
Looking back, the past jobs that I've held were a result of what were available at the time of my job hunt. Sure, I had a general idea of what I would like to do but many times, the external circumstances and the laws of demand and supply in the job market dictated where I ended up working.
After all, when you graduate in the midst of an economic recession - as I did - you can't be too choosy about what comes your way. The pressure is worse if you are expected to contribute to the family - as I was - because it means you need a constant stream of income.
I certainly couldn't afford to take my time to sit around and wait to land a dream job. It also meant that if I was thinking of leaving the job I was holding, I couldn't hand in my resignation letter until I'd got a new job.
So I do empathise with those who are graduating this year. Yes, I know how difficult a job hunt can get. After all, I've held nine jobs in the past 22 years since my graduation. Call me sentimental, but I've kept all my job appointment letters and every single increment and promotion letter.
After eight jobs, I count myself fortunate that circumstances finally led me to where I am. This is the longest I've ever stayed in a job - nine years. To someone who has spent many hours of her working life going through the newspapers for suitable job openings, it is bliss to find that there has been no reason to do so in the last nine years.
I can still remember how I got my first job.
I began my job hunt just before I graduated from the National University of Singapore with a Bachelor of Social Science/Arts degree majoring in economics and sociology in 1986.
Like today, it wasn't the best of times to graduate. Singapore was still in a recession, which started in 1985 owing to a slump in global trade. I didn't have the option of furthering my studies as I was the older child in the family and it was time to support my parents as well as my younger brother, who wanted to pursue an overseas law degree.
Unemployment was on the rise and executive jobs were getting scarce. The newspapers carried stories of fresh accounting graduates who, unable to find gainful employment, resorted to bookkeeping jobs that paid $400 a month. It was grim.
Amid the doom and gloom, it struck me that the civil service sector was still hiring and the pay was decent. To me, that meant a starting pay of at least $1,000. I decided to try my luck and applied to the Ministry of Defence (Mindef) as an army officer.
I didn't want to take chances, so I got my boyfriend (now husband) to role-play with me just to prepare myself for the job interview. I even compiled 30 questions and answers about the Singapore Armed Forces (SAF) and civil defence, and very diligently memorised them.
After a couple of interviews and a psychological test, I got the job as a manpower specialist officer in the non-uniformed SAF scheme, and started work at Mindef in Dempsey Road in May 1986, shortly after I finished my final exams. My starting monthly pay was $1,003.
Joining the army wasn't my idea of an ideal job as I would have preferred one with some travelling. But I was determined to learn whatever I could and contribute. It turned out that the army had a pretty generous training budget and I was sent for all sorts of training, from productivity workshops and counselling courses to supervisory skills programmes. I was in the job for two years.
It was the same at my second job at the now-defunct Insurance Corporation of Singapore (ICS). Besides sending us for numerous courses at the Singapore College of Insurance, the general manager took it upon himself to grill the recruits on the different classes of insurance, an hour before we started work daily.
I've learnt many different things from my past jobs and bosses, some more memorable than others. And the experiences have contributed to my wide portfolio of skills and shaped me.
It took a while in my case, but I know now that I really like dealing with people and will thrive in a job that provides some creativity and autonomy, and which enables me to reach out to the masses. The funny thing is when you find the right job, you don't think of it so much as a job but as a vocation.
Opportunities knock more than once. The key is you want to be ready with the right attitude and skills set when they come.
So continue to learn and invest in yourself after your basic degree. Have a three- to five-year plan and picture where you would like to be and how to get there.
Eager to improve myself, I continued to further my studies as I worked. Along the way, I picked up a postgraduate diploma in business administration from the Singapore Institute of Management and an MBA from the Open University, Britain.
While the former was fully sponsored by ICS with a one-year bond, the MBA was half sponsored by my former Finnish employer, Esmerk Information, with no strings attached.
Both credentials have proven useful in helping me be more effective in the various job roles I've had. In my past jobs, I had closed million-dollar sales, managed sales teams and run firms.
Remember that life is full of bends and corners. Just as you think you are nearing a dead end, the spectacle of another long smooth road greets you with new opportunities.
- The Straits Times
But take heart that you are in your 20s. You are likely to be working for at least another 20, 30 or even 40 years, so don't be too anxious if you are unable to start work immediately after graduation, or if you land a job that appears less than ideal.
Still, there is no doubt that this is the time when your resourcefulness and resilience will be tested. It takes loads of patience to scour the recruitment pages of The Straits Times daily for jobs and, hopefully, make the rounds of interviews.
If you are not defeated by them, then you will be mentally stronger. When you learn to deal positively with rejections and come out with creative responses, you are building your strength of character.
Looking back, the past jobs that I've held were a result of what were available at the time of my job hunt. Sure, I had a general idea of what I would like to do but many times, the external circumstances and the laws of demand and supply in the job market dictated where I ended up working.
After all, when you graduate in the midst of an economic recession - as I did - you can't be too choosy about what comes your way. The pressure is worse if you are expected to contribute to the family - as I was - because it means you need a constant stream of income.
I certainly couldn't afford to take my time to sit around and wait to land a dream job. It also meant that if I was thinking of leaving the job I was holding, I couldn't hand in my resignation letter until I'd got a new job.
So I do empathise with those who are graduating this year. Yes, I know how difficult a job hunt can get. After all, I've held nine jobs in the past 22 years since my graduation. Call me sentimental, but I've kept all my job appointment letters and every single increment and promotion letter.
After eight jobs, I count myself fortunate that circumstances finally led me to where I am. This is the longest I've ever stayed in a job - nine years. To someone who has spent many hours of her working life going through the newspapers for suitable job openings, it is bliss to find that there has been no reason to do so in the last nine years.
I can still remember how I got my first job.
I began my job hunt just before I graduated from the National University of Singapore with a Bachelor of Social Science/Arts degree majoring in economics and sociology in 1986.
Like today, it wasn't the best of times to graduate. Singapore was still in a recession, which started in 1985 owing to a slump in global trade. I didn't have the option of furthering my studies as I was the older child in the family and it was time to support my parents as well as my younger brother, who wanted to pursue an overseas law degree.
Unemployment was on the rise and executive jobs were getting scarce. The newspapers carried stories of fresh accounting graduates who, unable to find gainful employment, resorted to bookkeeping jobs that paid $400 a month. It was grim.
Amid the doom and gloom, it struck me that the civil service sector was still hiring and the pay was decent. To me, that meant a starting pay of at least $1,000. I decided to try my luck and applied to the Ministry of Defence (Mindef) as an army officer.
I didn't want to take chances, so I got my boyfriend (now husband) to role-play with me just to prepare myself for the job interview. I even compiled 30 questions and answers about the Singapore Armed Forces (SAF) and civil defence, and very diligently memorised them.
After a couple of interviews and a psychological test, I got the job as a manpower specialist officer in the non-uniformed SAF scheme, and started work at Mindef in Dempsey Road in May 1986, shortly after I finished my final exams. My starting monthly pay was $1,003.
Joining the army wasn't my idea of an ideal job as I would have preferred one with some travelling. But I was determined to learn whatever I could and contribute. It turned out that the army had a pretty generous training budget and I was sent for all sorts of training, from productivity workshops and counselling courses to supervisory skills programmes. I was in the job for two years.
It was the same at my second job at the now-defunct Insurance Corporation of Singapore (ICS). Besides sending us for numerous courses at the Singapore College of Insurance, the general manager took it upon himself to grill the recruits on the different classes of insurance, an hour before we started work daily.
I've learnt many different things from my past jobs and bosses, some more memorable than others. And the experiences have contributed to my wide portfolio of skills and shaped me.
It took a while in my case, but I know now that I really like dealing with people and will thrive in a job that provides some creativity and autonomy, and which enables me to reach out to the masses. The funny thing is when you find the right job, you don't think of it so much as a job but as a vocation.
Opportunities knock more than once. The key is you want to be ready with the right attitude and skills set when they come.
So continue to learn and invest in yourself after your basic degree. Have a three- to five-year plan and picture where you would like to be and how to get there.
Eager to improve myself, I continued to further my studies as I worked. Along the way, I picked up a postgraduate diploma in business administration from the Singapore Institute of Management and an MBA from the Open University, Britain.
While the former was fully sponsored by ICS with a one-year bond, the MBA was half sponsored by my former Finnish employer, Esmerk Information, with no strings attached.
Both credentials have proven useful in helping me be more effective in the various job roles I've had. In my past jobs, I had closed million-dollar sales, managed sales teams and run firms.
Remember that life is full of bends and corners. Just as you think you are nearing a dead end, the spectacle of another long smooth road greets you with new opportunities.
- The Straits Times
Job losses in recession-hit Singapore could match levels of previous downturns
Acting Manpower Minister Gan Kim Yong has said the unemployment rate due to the current recession in Singapore could reach the levels recorded during the Asian financial crisis in 1998 and the economic downturn in 2001.
And, with the US and European economies likely to recover only in the second half of this year, Trade and Industry Minister Lim Hng Kiang warned that recovery will be a slow process.
Both ministers laid out the jobs situation in Singapore in Parliament on Monday.
The industries that may be most affected by job losses are manufacturing, tourism, transport and wholesale trade. These are the sectors that are most exposed to the external economic environment. The financial services sector will also remain weak.
Mr Gan said based on preliminary numbers, some 8,100 workers were either laid off or facing retrenchments in the fourth quarter of last year and over the next few months.
Already, some 7,400 workers lost their jobs in the first three quarters of last year, two thirds of whom are locals.
The silver lining is that more than 30,000 new jobs will be available in growth sectors such as construction, healthcare, public administration and the integrated resorts.
Mr Gan said: "Close to 30,000 workers were retrenched in 1998 due to the Asian financial crisis, and about 26,000 workers were retrenched during the economic downturn in 2001. If our economy were to contract sharply this year, it is possible that retrenchments could reach these levels seen in previous recessions."
Also speaking in Parliament, Minister Lim said Singapore's job losses will increase and consumer sentiment will weaken as the manufacturing and financial industries slow further this year.
He said the economic slump has spread to all parts of the economy.
Mr Lim said 2009 will be a difficult year with consumer demand in key exports markets such as the US and Europe expected to remain weak.
As such, the manufacturing sector will continue to face a slowdown.
The financial sector meanwhile is expected to see a sharp decline because of the impact of the financial crisis.
Mr Lim also said weaker consumer sentiment among Singaporeans has affected the retail sector and the property market.
But he said there are still sectors that are showing positive growth.
These sectors collectively make up slightly less than 10 per cent of the economy. As such, Mr Lim said their growth will not be able to compensate for the decline in other sectors.
Mr Lim also said the government's S$2.3 billion loan support package for businesses in Singapore has been "promising".
Giving an update in Parliament, Mr Lim said banks' loan commitments increased even before the scheme was introduced in December last year.
For the whole of last year, loan commitments rose by 50 per cent to over S$1 billion, compared to S$680 million registered in the previous year.
Since the government-backed loans for businesses were launched in December, some 500 applications were received in that month alone.
Mr Lim added that the approved loans for December last year increased by 30 per cent over the same period in 2007, rising to S$80 million from S$62 million.
MPs also raised their concerns about what may be an oversupply of foreign workers during this current downturn, leading to foreign workers without jobs or competing for jobs with Singaporeans.
Mr Gan said his ministry will monitor the situation and calibrate companies' access to foreign workers. He also warned that if foreign workers were the first to be laid off in a retrenchment exercise, this may adversely affect the competitiveness of companies.
Mr Gan said: "On the supply side, the Dependency Ratio framework helps to ensure local employment since companies' access to foreign workers is dependent on the number of local workers they employ.
"The foreign worker levy, on the other hand, helps to moderate demand for foreign workers. If companies are required to retrench only foreign workers, they may be forced to close down or move to countries where they can have unlimited access to even cheaper labour.
"This will result in more job losses and in turn affect Singaporeans who work for these companies. This is a lose-lose outcome," said Mr Gan.
- Channel News Asia
And, with the US and European economies likely to recover only in the second half of this year, Trade and Industry Minister Lim Hng Kiang warned that recovery will be a slow process.
Both ministers laid out the jobs situation in Singapore in Parliament on Monday.
The industries that may be most affected by job losses are manufacturing, tourism, transport and wholesale trade. These are the sectors that are most exposed to the external economic environment. The financial services sector will also remain weak.
Mr Gan said based on preliminary numbers, some 8,100 workers were either laid off or facing retrenchments in the fourth quarter of last year and over the next few months.
Already, some 7,400 workers lost their jobs in the first three quarters of last year, two thirds of whom are locals.
The silver lining is that more than 30,000 new jobs will be available in growth sectors such as construction, healthcare, public administration and the integrated resorts.
Mr Gan said: "Close to 30,000 workers were retrenched in 1998 due to the Asian financial crisis, and about 26,000 workers were retrenched during the economic downturn in 2001. If our economy were to contract sharply this year, it is possible that retrenchments could reach these levels seen in previous recessions."
Also speaking in Parliament, Minister Lim said Singapore's job losses will increase and consumer sentiment will weaken as the manufacturing and financial industries slow further this year.
He said the economic slump has spread to all parts of the economy.
Mr Lim said 2009 will be a difficult year with consumer demand in key exports markets such as the US and Europe expected to remain weak.
As such, the manufacturing sector will continue to face a slowdown.
The financial sector meanwhile is expected to see a sharp decline because of the impact of the financial crisis.
Mr Lim also said weaker consumer sentiment among Singaporeans has affected the retail sector and the property market.
But he said there are still sectors that are showing positive growth.
These sectors collectively make up slightly less than 10 per cent of the economy. As such, Mr Lim said their growth will not be able to compensate for the decline in other sectors.
Mr Lim also said the government's S$2.3 billion loan support package for businesses in Singapore has been "promising".
Giving an update in Parliament, Mr Lim said banks' loan commitments increased even before the scheme was introduced in December last year.
For the whole of last year, loan commitments rose by 50 per cent to over S$1 billion, compared to S$680 million registered in the previous year.
Since the government-backed loans for businesses were launched in December, some 500 applications were received in that month alone.
Mr Lim added that the approved loans for December last year increased by 30 per cent over the same period in 2007, rising to S$80 million from S$62 million.
MPs also raised their concerns about what may be an oversupply of foreign workers during this current downturn, leading to foreign workers without jobs or competing for jobs with Singaporeans.
Mr Gan said his ministry will monitor the situation and calibrate companies' access to foreign workers. He also warned that if foreign workers were the first to be laid off in a retrenchment exercise, this may adversely affect the competitiveness of companies.
Mr Gan said: "On the supply side, the Dependency Ratio framework helps to ensure local employment since companies' access to foreign workers is dependent on the number of local workers they employ.
"The foreign worker levy, on the other hand, helps to moderate demand for foreign workers. If companies are required to retrench only foreign workers, they may be forced to close down or move to countries where they can have unlimited access to even cheaper labour.
"This will result in more job losses and in turn affect Singaporeans who work for these companies. This is a lose-lose outcome," said Mr Gan.
- Channel News Asia
NTUC says more youths aged under 30 will start feeling impact of downturn
More youths aged under 30 will start to feel the impact of the recession as the year progresses.
The unemployment rate for this group of youths was 4.1 per cent recently but NTUC said it is likely to go up this year.
However, the labour movement said, the figure is still far better than those in other countries at the moment.
And, among the 55,800 unemployed in Singapore, about 31 per cent of them are youths. The present economic downturn is the first major one for many young adults.
To help prepare them if they get the axe, NTUC's Employment and Employability Institute (e2i) held a retrenchment simulation exercise.
NTUC said there are about 6,000 immediate job vacancies across all sectors at the moment. But the main challenge when it comes to young adults is managing their own expectations.
NTUC Assistant Secretary General, Josephine Teo, said: "The terms and conditions of employment may not be what they expect. So the purpose of this activity (retrenchment simulation exercise) is also to help them to understand that challenges are now different and therefore they also have to adjust their expectations accordingly."
Despite the downturn, Defence Minister Teo Chee Hean said Singapore could still rely on its strong dollar and reserves.
"Because if the whole economy is in doubt or it collapses and nobody even believes in your currency anymore - like it has happened in some countries like Iceland - then we're really in deep trouble," he said.
- Channel News Asia
The unemployment rate for this group of youths was 4.1 per cent recently but NTUC said it is likely to go up this year.
However, the labour movement said, the figure is still far better than those in other countries at the moment.
And, among the 55,800 unemployed in Singapore, about 31 per cent of them are youths. The present economic downturn is the first major one for many young adults.
To help prepare them if they get the axe, NTUC's Employment and Employability Institute (e2i) held a retrenchment simulation exercise.
NTUC said there are about 6,000 immediate job vacancies across all sectors at the moment. But the main challenge when it comes to young adults is managing their own expectations.
NTUC Assistant Secretary General, Josephine Teo, said: "The terms and conditions of employment may not be what they expect. So the purpose of this activity (retrenchment simulation exercise) is also to help them to understand that challenges are now different and therefore they also have to adjust their expectations accordingly."
Despite the downturn, Defence Minister Teo Chee Hean said Singapore could still rely on its strong dollar and reserves.
"Because if the whole economy is in doubt or it collapses and nobody even believes in your currency anymore - like it has happened in some countries like Iceland - then we're really in deep trouble," he said.
- Channel News Asia
Mindef has 2,000 posts to fill
THE Defence Ministry has 2,000 military and administrative positions to fill in the next few months.
It is casting the net wider and targeting school leavers and mid-career workers.
Mindef employs over 30,000 uniformed and non-uniformed personnel, excluding enlisted National Servicemen.
- The Straits Times
It is casting the net wider and targeting school leavers and mid-career workers.
Mindef employs over 30,000 uniformed and non-uniformed personnel, excluding enlisted National Servicemen.
- The Straits Times
Jan 17, 2009
Who'll give me a job?
MR NARAYANAN has put his suit away. He doesn't carry his briefcase anymore either. Instead, under his arm are classified sections of The Straits Times, folded and worn with red ink. In his hand, a Coke bottle re-filled with water.
'It's a hot day,' he said, seated at the canteen of the Employment and Employability Institute (e2i) in Redhill Road.
Next to him is his wife, a homemaker. They have been waiting since 10am, although their appointment letter said to come at 2pm. She closes her eyes. They both look like they could use some sleep.
Mr Narayanan, an engineer at an electronics company, was retrenched last month. He is 56 years old. 'Who's going to hire an old man like me?' he asked.
In the last two months, companies have all but stopped hiring. More and more have begun to lay off staff.
In the economic downturn, the spread of fires is striking - not only for the way it is cutting across industries, but also for the way managers have been axed.
The trauma cuts both ways - one manager of a large bank described the day he had to lay off his staff as the 'Night of the Long Knives', after a 1934 Nazi execution of political rivals.
He asked not to be named due to company policy, but said: 'It was long, sad, and not worth what they're paying me.'
In Mr Narayanan's case, he was told at home over the phone, after being asked to 'take a few days off'.
The day he was asked to come in - nearly three weeks later - he was in and out in two hours, minus his laptop, work-pass and self-esteem.
Still, Mr Narayanan is trying to stay upbeat. He declined to give his full name in case his company decides to rehire him.
His three teenage children share his optimism. 'My boys think everything is still okay. So, everything will be okay,' he said.
When Mr Mark Wang, an investment banker, was retrenched last month, the trauma was mitigated in two ways, he said. First, he saw it coming. Second, cash - loads of it.
'It was very obvious,' the 32-year-old told The Straits Times. 'An employee's value to the company is how much money you're bringing in.'
In 2007, Mr Wang brought to his bank over $20 million worth of new business. He took home $1 million. Last year, he brought in zero.
He said: 'Everyone's dry. The market is dead.'
Unlike Mr Narayanan, Mr Wang is going to sit out the job hunt for a bit. He can afford to, with the company's $200,000 severance package.
'It was the first thing I asked for when I was given the news,' he said. 'I told them: 'Don't tell me any grandmother's story. I'm in this business because of the money. Pay me and I'll walk out now.''
They did. The whole episode, conducted over the phone from Hong Kong, was over in five minutes.
'This is an industry for mercenaries,' he said. 'If it weren't about the money, I would have been a bus driver.'
In large companies with hundreds of employees, most retrenchments - like Mr Wang's - are swift, and the first item on the day's agenda.
Retrenched workers are thanked, compensated and given free access to services at counselling centres or job placement agencies. There are forms to fill with dotted lines to sign on.
Some companies allocate time for their employees to say goodbye.
Smaller companies, however, can lack the experience or the resources to support a retrenchment exercise.
'Companies with no experience in recessions, or if they're too small, aren't prepared to help their staff,' said Mr Ron Keaton, a senior manager at a telecommunications company who asked to use a pseudonym as his company has a policy against speaking to reporters.
Training managers in the art of firing can only help to an extent, cautioned Mr Keaton. 'People are complex. You will never really know if you did the right thing, or fired the right person. That can be very traumatic for any manager.
'Some cry, some get depressed, one friend of mine started seeing a therapist,' he said. 'You can't imagine how bad it is when you have to close down a factory and lose hundreds of workers.'
Ms Theresa Wong, a manager at e2i, can. She was in charge of helping the 250 workers retrenched at printer chip manufacturer Avago Technologies in 2007.
She stood next to the manager in the building's canteen as he distributed letters to the workers, mostly labourers and machine operators. 'The mood was solemn,' she said. 'A few workers cried.'
Ms Wong attended the three-day retrenchment exercise as part of coordinated efforts between companies, trade unions and employment centres like e2i to anticipate workers' needs.
In mass retrenchments, the first call is from companies to the workers' unions, usually weeks in advance.
Together, they discuss the retrenchment benefits, and prepare to field questions about support services available to those laid off.
That is when Ms Wong steps in. 'Not everyone is ready to accept the reality, but we want them to know we're here to help,' she said.
Reality finally came - after months of suspicion - for Mr Muhammed Salim, 40, a vice-president of an engineering firm, who was given notice to leave late last year.
Before he was retrenched, he managed hundreds of workers and had shown dozens the door, not always during an economic downturn.
'It's all about the bottom line,' he said. 'You don't always agree with the decision but what can you do? You get on with it.'
Mr Salim requested a pseudonym, too. He was retrenched along with several other managers.
It happened on a weekday mid-afternoon. They were called into an office and, one by one, received and signed three forms: a list of issued items to be returned to the company; a standard letter of termination; and a letter outlining their retrenchment benefits, which in Mr Salim's case was four months' salary.
It was a scene that played out at least twice more after he left. Two weeks later, and again just before Christmas, at least 40 more employees were fired.
He had had a bad feeling for months. He said: 'When you're as senior as I am, you know the books.'
As the economy worsened, his company lost hundreds of millions of dollars in a matter of months. 'The company was bleeding. Something needed to be done,' he said.
'I called my wife, told her the 'hatchet man' had come for me. She was upset, but you know, we'll have to cut down a bit - no more weekend trips to Bali.'
Last year, he spent about $15,000 on vacations with his wife and their seven-year-old daughter.
He has begun looking for a job overseas.
- The Straits Times
'It's a hot day,' he said, seated at the canteen of the Employment and Employability Institute (e2i) in Redhill Road.
Next to him is his wife, a homemaker. They have been waiting since 10am, although their appointment letter said to come at 2pm. She closes her eyes. They both look like they could use some sleep.
Mr Narayanan, an engineer at an electronics company, was retrenched last month. He is 56 years old. 'Who's going to hire an old man like me?' he asked.
In the last two months, companies have all but stopped hiring. More and more have begun to lay off staff.
In the economic downturn, the spread of fires is striking - not only for the way it is cutting across industries, but also for the way managers have been axed.
The trauma cuts both ways - one manager of a large bank described the day he had to lay off his staff as the 'Night of the Long Knives', after a 1934 Nazi execution of political rivals.
He asked not to be named due to company policy, but said: 'It was long, sad, and not worth what they're paying me.'
In Mr Narayanan's case, he was told at home over the phone, after being asked to 'take a few days off'.
The day he was asked to come in - nearly three weeks later - he was in and out in two hours, minus his laptop, work-pass and self-esteem.
Still, Mr Narayanan is trying to stay upbeat. He declined to give his full name in case his company decides to rehire him.
His three teenage children share his optimism. 'My boys think everything is still okay. So, everything will be okay,' he said.
When Mr Mark Wang, an investment banker, was retrenched last month, the trauma was mitigated in two ways, he said. First, he saw it coming. Second, cash - loads of it.
'It was very obvious,' the 32-year-old told The Straits Times. 'An employee's value to the company is how much money you're bringing in.'
In 2007, Mr Wang brought to his bank over $20 million worth of new business. He took home $1 million. Last year, he brought in zero.
He said: 'Everyone's dry. The market is dead.'
Unlike Mr Narayanan, Mr Wang is going to sit out the job hunt for a bit. He can afford to, with the company's $200,000 severance package.
'It was the first thing I asked for when I was given the news,' he said. 'I told them: 'Don't tell me any grandmother's story. I'm in this business because of the money. Pay me and I'll walk out now.''
They did. The whole episode, conducted over the phone from Hong Kong, was over in five minutes.
'This is an industry for mercenaries,' he said. 'If it weren't about the money, I would have been a bus driver.'
In large companies with hundreds of employees, most retrenchments - like Mr Wang's - are swift, and the first item on the day's agenda.
Retrenched workers are thanked, compensated and given free access to services at counselling centres or job placement agencies. There are forms to fill with dotted lines to sign on.
Some companies allocate time for their employees to say goodbye.
Smaller companies, however, can lack the experience or the resources to support a retrenchment exercise.
'Companies with no experience in recessions, or if they're too small, aren't prepared to help their staff,' said Mr Ron Keaton, a senior manager at a telecommunications company who asked to use a pseudonym as his company has a policy against speaking to reporters.
Training managers in the art of firing can only help to an extent, cautioned Mr Keaton. 'People are complex. You will never really know if you did the right thing, or fired the right person. That can be very traumatic for any manager.
'Some cry, some get depressed, one friend of mine started seeing a therapist,' he said. 'You can't imagine how bad it is when you have to close down a factory and lose hundreds of workers.'
Ms Theresa Wong, a manager at e2i, can. She was in charge of helping the 250 workers retrenched at printer chip manufacturer Avago Technologies in 2007.
She stood next to the manager in the building's canteen as he distributed letters to the workers, mostly labourers and machine operators. 'The mood was solemn,' she said. 'A few workers cried.'
Ms Wong attended the three-day retrenchment exercise as part of coordinated efforts between companies, trade unions and employment centres like e2i to anticipate workers' needs.
In mass retrenchments, the first call is from companies to the workers' unions, usually weeks in advance.
Together, they discuss the retrenchment benefits, and prepare to field questions about support services available to those laid off.
That is when Ms Wong steps in. 'Not everyone is ready to accept the reality, but we want them to know we're here to help,' she said.
Reality finally came - after months of suspicion - for Mr Muhammed Salim, 40, a vice-president of an engineering firm, who was given notice to leave late last year.
Before he was retrenched, he managed hundreds of workers and had shown dozens the door, not always during an economic downturn.
'It's all about the bottom line,' he said. 'You don't always agree with the decision but what can you do? You get on with it.'
Mr Salim requested a pseudonym, too. He was retrenched along with several other managers.
It happened on a weekday mid-afternoon. They were called into an office and, one by one, received and signed three forms: a list of issued items to be returned to the company; a standard letter of termination; and a letter outlining their retrenchment benefits, which in Mr Salim's case was four months' salary.
It was a scene that played out at least twice more after he left. Two weeks later, and again just before Christmas, at least 40 more employees were fired.
He had had a bad feeling for months. He said: 'When you're as senior as I am, you know the books.'
As the economy worsened, his company lost hundreds of millions of dollars in a matter of months. 'The company was bleeding. Something needed to be done,' he said.
'I called my wife, told her the 'hatchet man' had come for me. She was upset, but you know, we'll have to cut down a bit - no more weekend trips to Bali.'
Last year, he spent about $15,000 on vacations with his wife and their seven-year-old daughter.
He has begun looking for a job overseas.
- The Straits Times
Top 5 hiring industries and where to go for help
HOSPITALITY: 20,000 jobs
Positions: Croupiers, butlers, doormen, chefs, waiters, retail assistants, animal trainers
Monthly Salary Range: $800 to $1,600
MINISTRY OF EDUCATION: 7,500 jobs
Positions: Teachers, teaching assistants
Monthly Salary Range: $1,200 to $2,700
HEALTH CARE: 6,000 jobs
Positions: Nurses, health-care assistants, physiotherapists
Monthly Salary Range: $1,000 to $3,100
RETAIL: 4,000 jobs
Positions: Sales assistants, cashiers
Monthly Salary Range: $900 to $1,600
SECURITY: 3,500 jobs
Positions: Security officers, auxiliary police
Monthly Salary Range: $1,200 to $1,800
TO LEARN more about how you can re-train in a different industry, or pick up new skills, go to:
Employment and Employability Institute (e2i)
141 Redhill Road, Block A, #01-01
Open Mondays to Fridays, 9am to 6pm; Saturdays, 9am to 1pm
Call 6474 0606
For job-matching and career counselling and assistance, the Singapore Workforce Development Agency's career consultants can be found islandwide at your neighbourhood Community Development Council:
Central Singapore CDC
HDB Hub Bizthree, 490 Lorong 6 Toa Payoh, #04-10
Open Mondays to Fridays, 8.30am to 5.30pm; Saturdays, 8.30am to 1pm
Call 6370 3410
North East CDC
3 Tampines Grande, #01-02, AIA Tampines
Open Mondays to Thursdays, 8.30am to 5.30pm; Fridays, 8.30am to 5pm; Saturdays, 8.30am to 12.30pm
Call 6424 4000
North West CDC
900 South Woodlands Drive, #01-04, Woodlands Civic Centre
Open Mondays to Thursdays; 8.30am to 6pm; Fridays, 8.30am to 5.30pm; Saturdays, 8.30am to 1pm
Call 6767 2288
South East CDC
10 Eunos Road 8, #02-01, Singapore Post Centre
Open Mondays to Fridays, 8.30am to 5pm; Saturdays, 8.30am to 1pm
Call 6243 8753
South West CDC
The JTC Summit, 8 Jurong Town Hall Road #03-11
Open Mondays to Fridays, 8.30am to 5.30pm; Saturdays, 8.30am to 1pm
Call 6316 1616
For general enquiries, call the Ministry of Community Development, Youth and Sport's ComCare Call, a 24-hour social assistance helpline, on 1800-222-0000; or Singapore Workforce Development Agency on 6883 5885 during office hours.
- The Straits Times
Positions: Croupiers, butlers, doormen, chefs, waiters, retail assistants, animal trainers
Monthly Salary Range: $800 to $1,600
MINISTRY OF EDUCATION: 7,500 jobs
Positions: Teachers, teaching assistants
Monthly Salary Range: $1,200 to $2,700
HEALTH CARE: 6,000 jobs
Positions: Nurses, health-care assistants, physiotherapists
Monthly Salary Range: $1,000 to $3,100
RETAIL: 4,000 jobs
Positions: Sales assistants, cashiers
Monthly Salary Range: $900 to $1,600
SECURITY: 3,500 jobs
Positions: Security officers, auxiliary police
Monthly Salary Range: $1,200 to $1,800
TO LEARN more about how you can re-train in a different industry, or pick up new skills, go to:
Employment and Employability Institute (e2i)
141 Redhill Road, Block A, #01-01
Open Mondays to Fridays, 9am to 6pm; Saturdays, 9am to 1pm
Call 6474 0606
For job-matching and career counselling and assistance, the Singapore Workforce Development Agency's career consultants can be found islandwide at your neighbourhood Community Development Council:
Central Singapore CDC
HDB Hub Bizthree, 490 Lorong 6 Toa Payoh, #04-10
Open Mondays to Fridays, 8.30am to 5.30pm; Saturdays, 8.30am to 1pm
Call 6370 3410
North East CDC
3 Tampines Grande, #01-02, AIA Tampines
Open Mondays to Thursdays, 8.30am to 5.30pm; Fridays, 8.30am to 5pm; Saturdays, 8.30am to 12.30pm
Call 6424 4000
North West CDC
900 South Woodlands Drive, #01-04, Woodlands Civic Centre
Open Mondays to Thursdays; 8.30am to 6pm; Fridays, 8.30am to 5.30pm; Saturdays, 8.30am to 1pm
Call 6767 2288
South East CDC
10 Eunos Road 8, #02-01, Singapore Post Centre
Open Mondays to Fridays, 8.30am to 5pm; Saturdays, 8.30am to 1pm
Call 6243 8753
South West CDC
The JTC Summit, 8 Jurong Town Hall Road #03-11
Open Mondays to Fridays, 8.30am to 5.30pm; Saturdays, 8.30am to 1pm
Call 6316 1616
For general enquiries, call the Ministry of Community Development, Youth and Sport's ComCare Call, a 24-hour social assistance helpline, on 1800-222-0000; or Singapore Workforce Development Agency on 6883 5885 during office hours.
- The Straits Times
Jan 16, 2009
Job fairs: More misses than hits
SINGAPORE: When it comes to job fairs, there are the impressive turnouts far surpassing the number of vacancies available - and then there are the humbler rates of successful job matches.
At least six job fairs have been organised in recent months by Community Development Councils (CDCs), the civil service as well as the healthcare sector. Hundreds of jobs have been served up at some of these events, attracting at least double the number in job seekers. But has such response meant success in finding the right workers?
Not necessarily, companies told TODAY. Hotel Ibis Singapore, for example, received hundreds of applications for its 40 available positions at North East CDC's career fair last month, but has hired only two - a housemaid and a security officer.
Food and beverage operator ThaiExpress Concepts has taken part in four job fairs since October, and recruited "30 to 50" staff for its 150 vacancies through them - a success rate that could be improved, said Ms Nica Foo, its head of human resources and talent management.
Restaurant chain Fish & Co received over 200 applications at two job fairs for its 60 vacancies, but "the majority" of applicants were later uncontactable or declined second interviews, said its human resources manager Dawn Lim. And for shoe retailer Charles & Keith, just half of its 40 available positions have been filled through three job fairs.
Seven in 10 applications Ibis hotel received at the North East CDC job fair were unsuitable, said its assistant human resource manager New Kheng Tiong. And with the hotel opening mid-February, the management felt there was insufficient time to re-train applicants for certain positions.
"For the hotel's duty engineers, we did consider some manufacturing engineers. But the systems used are very different, and training will take longer (than a month)," explained Mr New.
But staff training is feasible in some instances - the housemaid it has hired, for example, will undergo a month's training before the hotel opens. She had previously worked in manufacturing, but Mr New said they felt she had "the right attitude".
For the F&B industry, employers said a service-oriented attitude is more important than academic qualifications. Job hopefuls might say they are prepared to stay on their feet for long hours, but their tone and body language might suggest otherwise.
"There are people out there looking for jobs, but maybe they are just not keen to do F&B," said Fish & Co's Ms Lim, who suggested that more career talks be held to change mindsets, and that the Ministry of Manpower raise its quota for foreign worker-hires should businesses be unable to hire enough locals.
It's not just the services sector that has lacked success at job fairs. A voluntary welfare organisation (VWO) that participated in South West CDC's job fair last month told TODAY that many applicants lacked relevant experience for positions such as social workers, childcare teachers and programme coordinators.
The VWO has yet to schedule interviews with its job fair applicants due to the lack of time. But it would probably screen more qualified job seekers who applied through internal referrals or the National Council of Social Service's website first, said its representative.
Despite some misses, employers said they would participate in future job fairs for the chance to cast their net wide. Fairs help to "build our brand (and) ensure sufficient manpower", said a Charles and Keith spokesperson.
The fairs' success depends on how well they have been promoted, and whether they attract the desired "volume and quality" of attendees, said recruitment firm Adecco's Southeast Asia regional director Lynne Ng.
Chances of a successful match are higher with a structure in place to evaluate applications - something staffing firms can help develop, she said.
ThaiExpress' Ms Foo said employers should know the fair's theme and target audience, and job seekers should read up on the participating companies.
Indeed, some employers have hit on a winning formula. The National University Hospital, which held a solo walk-in recruitment drive on December 27, advertised and received media coverage in the lead-up to the event.
Half the applicants were qualified for the jobs they sought, and 10 per cent of the 500 vacancies were filled just two weeks after the fair. Interviews are still ongoing, said NUH's human resource director Clara Wee.
"Having such a job fair attracts a large pool of interested applicants in a single day," Ms Wee said. "We are very satisfied with the outcome of this recruitment drive and are considering making this a regular feature, perhaps even on a quarterly basis."
- TODAY newspaper
At least six job fairs have been organised in recent months by Community Development Councils (CDCs), the civil service as well as the healthcare sector. Hundreds of jobs have been served up at some of these events, attracting at least double the number in job seekers. But has such response meant success in finding the right workers?
Not necessarily, companies told TODAY. Hotel Ibis Singapore, for example, received hundreds of applications for its 40 available positions at North East CDC's career fair last month, but has hired only two - a housemaid and a security officer.
Food and beverage operator ThaiExpress Concepts has taken part in four job fairs since October, and recruited "30 to 50" staff for its 150 vacancies through them - a success rate that could be improved, said Ms Nica Foo, its head of human resources and talent management.
Restaurant chain Fish & Co received over 200 applications at two job fairs for its 60 vacancies, but "the majority" of applicants were later uncontactable or declined second interviews, said its human resources manager Dawn Lim. And for shoe retailer Charles & Keith, just half of its 40 available positions have been filled through three job fairs.
Seven in 10 applications Ibis hotel received at the North East CDC job fair were unsuitable, said its assistant human resource manager New Kheng Tiong. And with the hotel opening mid-February, the management felt there was insufficient time to re-train applicants for certain positions.
"For the hotel's duty engineers, we did consider some manufacturing engineers. But the systems used are very different, and training will take longer (than a month)," explained Mr New.
But staff training is feasible in some instances - the housemaid it has hired, for example, will undergo a month's training before the hotel opens. She had previously worked in manufacturing, but Mr New said they felt she had "the right attitude".
For the F&B industry, employers said a service-oriented attitude is more important than academic qualifications. Job hopefuls might say they are prepared to stay on their feet for long hours, but their tone and body language might suggest otherwise.
"There are people out there looking for jobs, but maybe they are just not keen to do F&B," said Fish & Co's Ms Lim, who suggested that more career talks be held to change mindsets, and that the Ministry of Manpower raise its quota for foreign worker-hires should businesses be unable to hire enough locals.
It's not just the services sector that has lacked success at job fairs. A voluntary welfare organisation (VWO) that participated in South West CDC's job fair last month told TODAY that many applicants lacked relevant experience for positions such as social workers, childcare teachers and programme coordinators.
The VWO has yet to schedule interviews with its job fair applicants due to the lack of time. But it would probably screen more qualified job seekers who applied through internal referrals or the National Council of Social Service's website first, said its representative.
Despite some misses, employers said they would participate in future job fairs for the chance to cast their net wide. Fairs help to "build our brand (and) ensure sufficient manpower", said a Charles and Keith spokesperson.
The fairs' success depends on how well they have been promoted, and whether they attract the desired "volume and quality" of attendees, said recruitment firm Adecco's Southeast Asia regional director Lynne Ng.
Chances of a successful match are higher with a structure in place to evaluate applications - something staffing firms can help develop, she said.
ThaiExpress' Ms Foo said employers should know the fair's theme and target audience, and job seekers should read up on the participating companies.
Indeed, some employers have hit on a winning formula. The National University Hospital, which held a solo walk-in recruitment drive on December 27, advertised and received media coverage in the lead-up to the event.
Half the applicants were qualified for the jobs they sought, and 10 per cent of the 500 vacancies were filled just two weeks after the fair. Interviews are still ongoing, said NUH's human resource director Clara Wee.
"Having such a job fair attracts a large pool of interested applicants in a single day," Ms Wee said. "We are very satisfied with the outcome of this recruitment drive and are considering making this a regular feature, perhaps even on a quarterly basis."
- TODAY newspaper
Jan 15, 2009
A nod to PMEs
THEY have the experience and are highly educated. So, sourcing information for jobs, in the event of retrenchment, should not be a problem. Professionals, managers and executives (PMEs) do not need employment assistance.
That is what the North East Community Development Council used to think — until now, that is.
After 43 PMEs approached the CDC in November — and90 last month — it has decided to offer such assistance, hitherto reserved for the needy, to this group.
PMEs can now register and state their employment requirements with the NECDC, which will then refer them for interviews with headhunting companies.
The CDC has found three partners — Sequoia Associates, CareerLink Consultancy and Corporate Headhunters — who possibly can match applicants to jobs as high up as a general manager position.
The NECDC expects to engage another six headhunters within the next six months.
This new PME programme — which can be found in a similar vein at Central CDC — is part of an extended economic relief package for retrenched residents in the North East that was unveiled yesterday.
The NECDC has doubled the budget set aside for such social assistance to $3 million and increased the total amount for its local schemes, which covers initiatives such as community bonding, from $7 million to $7.9 million.
In addition to PMEs, the North East Economic Relief package will help a wider group of residents now that per capita income criteria has been raised from $400 to $500 per household for schemes, for example, which provide assistance for daily provisions and transport.
NECDC expects 400 more residents to qualify under the new criteria. It now helps 2,000 residents.
Another new programme, the North East Dare To Venture Fund, offers seed funding of up to $10,000 to residents in the district to start up small social enterprises that can provide employment to the needy and benefit the community.
One successful applicant, Ms June Lim has been teaching handicraft since 1975 at community centres and was given a $5,000 grant for her business proposal to help others pick up the skill — and extra income.
One of the beneficiaries of her proposal, 48-year-old Josephine Toh, said: “By selling handicrafts, I’m able to add to my family income as my husband earns around $1,000 working overseas, and I have two children who are still in primary school.”
The NECDC has redeployed its staff from other grassroots programmes to devote more resources to these social assistance efforts. It is also looking to hire at least four full-time staff and six part-time staff to cope with the greater numbers seeking help.
North East District Mayor Zainul Abidin Rasheed said, “The assistance we give is not much. (Residents) may get $100 more. But at least they feel they get some help while they get retraining or a job. At least they can settle part of their bills such as power bills or take care of their children’s educational needs.”
Mr Zainul also hopes more corporate partners come on board. The CDC has had to dip into its reserves to cater to its bigger budget this year.
- TODAY newspaper
That is what the North East Community Development Council used to think — until now, that is.
After 43 PMEs approached the CDC in November — and90 last month — it has decided to offer such assistance, hitherto reserved for the needy, to this group.
PMEs can now register and state their employment requirements with the NECDC, which will then refer them for interviews with headhunting companies.
The CDC has found three partners — Sequoia Associates, CareerLink Consultancy and Corporate Headhunters — who possibly can match applicants to jobs as high up as a general manager position.
The NECDC expects to engage another six headhunters within the next six months.
This new PME programme — which can be found in a similar vein at Central CDC — is part of an extended economic relief package for retrenched residents in the North East that was unveiled yesterday.
The NECDC has doubled the budget set aside for such social assistance to $3 million and increased the total amount for its local schemes, which covers initiatives such as community bonding, from $7 million to $7.9 million.
In addition to PMEs, the North East Economic Relief package will help a wider group of residents now that per capita income criteria has been raised from $400 to $500 per household for schemes, for example, which provide assistance for daily provisions and transport.
NECDC expects 400 more residents to qualify under the new criteria. It now helps 2,000 residents.
Another new programme, the North East Dare To Venture Fund, offers seed funding of up to $10,000 to residents in the district to start up small social enterprises that can provide employment to the needy and benefit the community.
One successful applicant, Ms June Lim has been teaching handicraft since 1975 at community centres and was given a $5,000 grant for her business proposal to help others pick up the skill — and extra income.
One of the beneficiaries of her proposal, 48-year-old Josephine Toh, said: “By selling handicrafts, I’m able to add to my family income as my husband earns around $1,000 working overseas, and I have two children who are still in primary school.”
The NECDC has redeployed its staff from other grassroots programmes to devote more resources to these social assistance efforts. It is also looking to hire at least four full-time staff and six part-time staff to cope with the greater numbers seeking help.
North East District Mayor Zainul Abidin Rasheed said, “The assistance we give is not much. (Residents) may get $100 more. But at least they feel they get some help while they get retraining or a job. At least they can settle part of their bills such as power bills or take care of their children’s educational needs.”
Mr Zainul also hopes more corporate partners come on board. The CDC has had to dip into its reserves to cater to its bigger budget this year.
- TODAY newspaper
Jan 14, 2009
Barclays layoffs to hit home
BRITISH banking giant Barclays said on Tuesday that it will cut 2,100 jobs in its investment banking and wealth management units, with some positions in Singapore at risk.
Barclays' operations in Singapore include Barclays Capital, Barclays Wealth Management and Barclays Global Investors, employing more than 2,500 bankers and back-end staff in total.
A Barclays spokesman in Singapore did not elaborate on possible job cuts here but The Straits Times understands that some staff were told on Wednesday morning that they are being laid off.
- The Straits Times
Barclays' operations in Singapore include Barclays Capital, Barclays Wealth Management and Barclays Global Investors, employing more than 2,500 bankers and back-end staff in total.
A Barclays spokesman in Singapore did not elaborate on possible job cuts here but The Straits Times understands that some staff were told on Wednesday morning that they are being laid off.
- The Straits Times
30% expect to lose job
SINGAPOREANS are preparing for the worst, with one in three expecting to lose his job during this downturn.
A poll by TNS and Gallup International found that workers' confidence has been dented by the global financial crisis.
Almost eight in 10 Singaporeans believe unemployment will rise this year as the country's economy declines, with gross domestic product expected to be between minus 2 per cent and 1 per cent.
The global poll was conducted between October and December last year, with 45,700 people in 46 countries interviewed.
In Singapore, where 1,000 people were polled, expectations seem bleaker.
Almost two in three Singaporeans say this year will be worse for them than last year, compared with a global average of 35 per cent who feel the same way.
Commenting on the results, Mr Wage Garland, managing director of TNS in Singapore and Hong Kong, said such pessimism follows the bad news and views expressed by leaders and business organisations which are carried in the media.
'Media reports of these types of forecasts, the financial difficulties of several major local retailers, falling property prices and the layoffs already taking place in some companies have made people realise that the global economic turmoil is having an impact on Singapore,' he said.
But what is surprising, he added, is that it has yet to undermine confidence in their own future. Despite the gloomy forecast, seven in 10 working Singaporeans are confident of keeping their jobs, even though most believe more people will be jobless.
But should they lose their jobs, almost eight in 10 Singaporeans fear it would take a long time to find a new one. Compared with people elsewhere, Singaporeans are more pessimistic, with the global figure standing at 54 per cent.
- The Straits Times
A poll by TNS and Gallup International found that workers' confidence has been dented by the global financial crisis.
Almost eight in 10 Singaporeans believe unemployment will rise this year as the country's economy declines, with gross domestic product expected to be between minus 2 per cent and 1 per cent.
The global poll was conducted between October and December last year, with 45,700 people in 46 countries interviewed.
In Singapore, where 1,000 people were polled, expectations seem bleaker.
Almost two in three Singaporeans say this year will be worse for them than last year, compared with a global average of 35 per cent who feel the same way.
Commenting on the results, Mr Wage Garland, managing director of TNS in Singapore and Hong Kong, said such pessimism follows the bad news and views expressed by leaders and business organisations which are carried in the media.
'Media reports of these types of forecasts, the financial difficulties of several major local retailers, falling property prices and the layoffs already taking place in some companies have made people realise that the global economic turmoil is having an impact on Singapore,' he said.
But what is surprising, he added, is that it has yet to undermine confidence in their own future. Despite the gloomy forecast, seven in 10 working Singaporeans are confident of keeping their jobs, even though most believe more people will be jobless.
But should they lose their jobs, almost eight in 10 Singaporeans fear it would take a long time to find a new one. Compared with people elsewhere, Singaporeans are more pessimistic, with the global figure standing at 54 per cent.
- The Straits Times
Jan 13, 2009
Ministry of Health to step up hiring drive
THE Health Ministry will speed up its recruitment plans to help provide jobs to those who may be retrenched in the recession, said Health Minister Khaw Boon Wan on Tuesday.
It is now looking to fill 4,500 positions in the public health sector over the next two years.
These jobs range from health-care professionals like nurses and pharmacists, to administrative staff like counter staff and telephone operators.
Initially, the plan was to to hire a total of 6,200 people over the next five years, Mr Khaw said.
But in light of the economic downturn, the ministry has 'decided to bring forward this plan as fast as what the labour market can support', he said.
It will also be increasing the number of training grants it is giving to people who are making a mid-career switch to become nurses, physiotherapists or occupational therapists, as well as the number of scholarships for allied health professions.
Apart from expanding job and training opportunities, the ministry has also raised the budget for Medifund, the pool of money that can be drawn on to help the needy pay for their medical bills, to $74 million this year. This is an an increase of almost 50 per cent from the amount allocated last year.
It will also launch other measures to help Singaporeans cope with the recession, if necessary. For example, it is now looking at how rules on the use of compulsory medical savings Medisave may be relaxed further to help reduce patients' out-of-pocket expenses.
- The Straits Times
It is now looking to fill 4,500 positions in the public health sector over the next two years.
These jobs range from health-care professionals like nurses and pharmacists, to administrative staff like counter staff and telephone operators.
Initially, the plan was to to hire a total of 6,200 people over the next five years, Mr Khaw said.
But in light of the economic downturn, the ministry has 'decided to bring forward this plan as fast as what the labour market can support', he said.
It will also be increasing the number of training grants it is giving to people who are making a mid-career switch to become nurses, physiotherapists or occupational therapists, as well as the number of scholarships for allied health professions.
Apart from expanding job and training opportunities, the ministry has also raised the budget for Medifund, the pool of money that can be drawn on to help the needy pay for their medical bills, to $74 million this year. This is an an increase of almost 50 per cent from the amount allocated last year.
It will also launch other measures to help Singaporeans cope with the recession, if necessary. For example, it is now looking at how rules on the use of compulsory medical savings Medisave may be relaxed further to help reduce patients' out-of-pocket expenses.
- The Straits Times
Jan 12, 2009
Layoffs likely to soar in electronics sector
RETRENCHMENTS in the beleaguered electronics industry is expected to soar, with layoffs in the first three months of this year to equal that for the whole of last year.
The labour movement foresees about 2,000 workers losing their jobs by March. This is comparable to the 2,374 jobs lost last year.
The bleak figures were given by National Trades Union Congress (NTUC) deputy secretary general Halimah Yacob on Monday morning.
Madam Halimah was speaking to reporters after her visit to 44 retrenched STMicroelectronics workers attending a training course at NTUC's Employment and Employability Institute (e2i).
Of the tougher times ahead, she said several manufacturing companies has seen demand for their products drop by as much as 70 per cent.
She also urged companies which cannot hold onto their staff to work with the unions so that workers could be eased out of their jobs as humanely as possible.
'Handling restructuring and redundancies responsibly also benefits companies as it has to manage the morale of employees who remain behind,' said Madam Halimah.
'Also, these workers have given three-quarters of their lives to the companies and I am sure the companies want to be able to do the right thing.'
Analysts have said that this year may see layoffs surpass the 30,000 jobs lost in 1998 during the Asian financial crisis.
In the case of STMicroelectronics, 215 workers were laid off in December, partly as a result of a restructuring in the company that begun two years ago and affected 1,300 workers.
The United Workers of Electronic and Electrical Industries (UWEEI) union helped the company redeploy 500 workers but could not prevent the retrenchments.
- The Straits Times
The labour movement foresees about 2,000 workers losing their jobs by March. This is comparable to the 2,374 jobs lost last year.
The bleak figures were given by National Trades Union Congress (NTUC) deputy secretary general Halimah Yacob on Monday morning.
Madam Halimah was speaking to reporters after her visit to 44 retrenched STMicroelectronics workers attending a training course at NTUC's Employment and Employability Institute (e2i).
Of the tougher times ahead, she said several manufacturing companies has seen demand for their products drop by as much as 70 per cent.
She also urged companies which cannot hold onto their staff to work with the unions so that workers could be eased out of their jobs as humanely as possible.
'Handling restructuring and redundancies responsibly also benefits companies as it has to manage the morale of employees who remain behind,' said Madam Halimah.
'Also, these workers have given three-quarters of their lives to the companies and I am sure the companies want to be able to do the right thing.'
Analysts have said that this year may see layoffs surpass the 30,000 jobs lost in 1998 during the Asian financial crisis.
In the case of STMicroelectronics, 215 workers were laid off in December, partly as a result of a restructuring in the company that begun two years ago and affected 1,300 workers.
The United Workers of Electronic and Electrical Industries (UWEEI) union helped the company redeploy 500 workers but could not prevent the retrenchments.
- The Straits Times
Jan 10, 2009
Government plans to launch more programmes to train professionals for a mid-career switch
MORE professionals, managers, executives and technicians (PMETs) are expected to be adversely affected in this recession than during previous recessions, Acting Manpower Minister Gan Kim Yong said on Saturday.
This is why the Government is rolling out more training programmes to target this group, he said.id.
Among them are the Professional Conversion Programmes (PCP), which will help to train and place mid-career professionals in jobs in growing sectors that are hiring staff.
Mr Gan launched one such programme on Saturday.
The PCP for tourism will allow workers to pursue qualifications in that sector. The year-long programme will feature both theory and practical classes and include internships with tourism outlets in Sentosa.
Trainees will also get a stipend.
Mr Gan said that over the last month, four PCPs in pre-school education, pharmaceutical manufacturing, health care and workplace safety and health have been developed.
Three other programmes in other industries are currently in place and the Workforce Development Agency (WDA) plans to roll out about 15 more such programmes this year.
Other measures to help PMETs include increasing the frequency of workshops which will share tips, knowledge and skills in job search and career transitions.
WDA and community development council career centres which provide services such as career-personality profiling and job referrals are also beefing up their resources.
The fate of PMETs has worried many.
As of the third quarter of last year, 2,248 of this group of workers were retrenched, according to the Ministry of Manpower.
Last Tuesday, in a letter to The Straits Times Forum page, a reader called for more to be done to help them. He suggested providing them access to programmes like support group activities and job counselling.
In a reply to the letter, National Trades Union Congress assistant secretary-general Josephine Teo pointed out that the recent expansion of funding from 150 to 800 courses for the Skills Programme for Upgrading Resilience (Spur) would encourage companies to train PMETs to do their jobs better and help employers cut cost and save jobs.
Mr Gan said yesterday that it was important to tailor PCPs to fit the needs of this group and to respond to market demand for them.
'PMETs are slightly different from rank and file,' he said.
'The more important thing is to make sure that the training is relevant to the industry needs because if we roll out many programmes just to meet the numbers, and the training is not relevant, after the training, they will still have difficulties finding jobs.'
He added that some PMETs might have to accept an adjustment in salary or position.
'I will encourage them to keep an open mind, to be realistic in their expectations, to be flexible, try something new. And even if it starts a little bit lower, it doesn't matter. Continue to work hard. Opportunities will be there for them to move upwards.'
- The Straits Times
This is why the Government is rolling out more training programmes to target this group, he said.id.
Among them are the Professional Conversion Programmes (PCP), which will help to train and place mid-career professionals in jobs in growing sectors that are hiring staff.
Mr Gan launched one such programme on Saturday.
The PCP for tourism will allow workers to pursue qualifications in that sector. The year-long programme will feature both theory and practical classes and include internships with tourism outlets in Sentosa.
Trainees will also get a stipend.
Mr Gan said that over the last month, four PCPs in pre-school education, pharmaceutical manufacturing, health care and workplace safety and health have been developed.
Three other programmes in other industries are currently in place and the Workforce Development Agency (WDA) plans to roll out about 15 more such programmes this year.
Other measures to help PMETs include increasing the frequency of workshops which will share tips, knowledge and skills in job search and career transitions.
WDA and community development council career centres which provide services such as career-personality profiling and job referrals are also beefing up their resources.
The fate of PMETs has worried many.
As of the third quarter of last year, 2,248 of this group of workers were retrenched, according to the Ministry of Manpower.
Last Tuesday, in a letter to The Straits Times Forum page, a reader called for more to be done to help them. He suggested providing them access to programmes like support group activities and job counselling.
In a reply to the letter, National Trades Union Congress assistant secretary-general Josephine Teo pointed out that the recent expansion of funding from 150 to 800 courses for the Skills Programme for Upgrading Resilience (Spur) would encourage companies to train PMETs to do their jobs better and help employers cut cost and save jobs.
Mr Gan said yesterday that it was important to tailor PCPs to fit the needs of this group and to respond to market demand for them.
'PMETs are slightly different from rank and file,' he said.
'The more important thing is to make sure that the training is relevant to the industry needs because if we roll out many programmes just to meet the numbers, and the training is not relevant, after the training, they will still have difficulties finding jobs.'
He added that some PMETs might have to accept an adjustment in salary or position.
'I will encourage them to keep an open mind, to be realistic in their expectations, to be flexible, try something new. And even if it starts a little bit lower, it doesn't matter. Continue to work hard. Opportunities will be there for them to move upwards.'
- The Straits Times
More challenging times
THE first two quarters of this year are likely to be more challenging as the economy continues to weaken and the labour market soften.
This is why retrenchment may pick up after the Chinese New Year, said Acting Manpower Minister Gan Kim Yong on Saturday.
However, he assured workers that the government has put in place measures to help them.
Retrenchment has been on the rise with a total of 3,773 unionised workers laid off last year. 15,000 unionised workers have been told to go on a shorter work as of 4th January.
The number of Professionals, Managers, Executives and Technicians (PMETs) affected is also on the rise.
It is predicted that there will be over 30,000 retrenchments during this financial crisis.
Mr Gan's comments are just one of the governments' many messages on how they will help people through this period.
- The Straits Times
This is why retrenchment may pick up after the Chinese New Year, said Acting Manpower Minister Gan Kim Yong on Saturday.
However, he assured workers that the government has put in place measures to help them.
Retrenchment has been on the rise with a total of 3,773 unionised workers laid off last year. 15,000 unionised workers have been told to go on a shorter work as of 4th January.
The number of Professionals, Managers, Executives and Technicians (PMETs) affected is also on the rise.
It is predicted that there will be over 30,000 retrenchments during this financial crisis.
Mr Gan's comments are just one of the governments' many messages on how they will help people through this period.
- The Straits Times
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