THE Singapore economy added an estimated 24,100 jobs in the third quarter, bringing total employment to 3,075,500, a Manpower Ministry report said on Friday.
That was about the same as the 24,900 jobs added in the second quarter of 2010, but fewer than the 36,500 jobs gained in the first.
Services contributed to the bulk of the increase in employment, while manufacturing employment fell by 400, though the decline eased from the previous quarter.
Redundancies fell across manufacturing, construction and services sectors. Preliminary estimates put the number of workers retrenched or had contracts terminated prematurely in the third quarter at 1,900, lower than 2,280 in the previous quarter.
The seasonally adjusted overall unemployment rate stood at 2.1 per cent, an improvement from 3.3 per cent a year ago and down slightly from 2.2 per cent in June 2010.
The resident unemployment rate was 3.1 per cent, compared to 4.8 per cent a year ago.
- The Strait Times
Oct 28, 2010
More than 4 in 10 job seekers lie in their resumes: Hudson report
More than four in 10 job seekers falsify their resumes.
That is what recruitment firm Hudson found out in a recent employment survey of nearly 550 executives across key business sectors.
It said candidates are most likely to falsify job responsibilities and achievements in their job applications.
The survey revealed that exaggerating the extent of one's specific experience is common among candidates at junior levels, as they seek to secure promotion to more senior roles.
Other key areas include skill sets and remuneration.
However, the likelihood of this happening varies between sectors. Candidates in the IT sector are most likely to exaggerate their skill sets.
This is because up-to-date technical knowledge is vital in the industry and candidates may be tempted to claim specific areas of expertise that they do not have.
Hudson's executive general manager, Ms Georgie Chong, described dishonesty in resumes as a "reality" of the market place.
"Most big companies will have in place pre-hiring procedures that includes the candidates certifying that whatever information that is stated in their resume or application is true and where it is found to be untrue, the company reserves the right to take disciplinary actions or to terminate the contract."
The Hudson Report said many employers believe the cost of making an inappropriate hire makes the reference-checking process worthwhile.
But, Ms Chong admitted that sometimes dishonest candidates get away with it.
"While you have in place processes, they may or may not be adhered to in a stringent manner, so they do get away with it.
"Let's say you're conducting a reference check, you need to have certain experience because sometimes it's not what the referee says, it's actually what the referee doesn't say," she said.
Turning to the employment market, Hudson said hiring expectations continue to rise, though at a slower rate.
Fifty eight per cent of respondents across all sectors expect to increase headcount in the current quarter.
And given better economic times, nearly a quarter of companies say they are experiencing turnover rates in excess of 10 per cent.
Most respondents are optimistic about the next six months, with 87 per cent forecasting excellent or good company performance.
- TODAY newspaper
That is what recruitment firm Hudson found out in a recent employment survey of nearly 550 executives across key business sectors.
It said candidates are most likely to falsify job responsibilities and achievements in their job applications.
The survey revealed that exaggerating the extent of one's specific experience is common among candidates at junior levels, as they seek to secure promotion to more senior roles.
Other key areas include skill sets and remuneration.
However, the likelihood of this happening varies between sectors. Candidates in the IT sector are most likely to exaggerate their skill sets.
This is because up-to-date technical knowledge is vital in the industry and candidates may be tempted to claim specific areas of expertise that they do not have.
Hudson's executive general manager, Ms Georgie Chong, described dishonesty in resumes as a "reality" of the market place.
"Most big companies will have in place pre-hiring procedures that includes the candidates certifying that whatever information that is stated in their resume or application is true and where it is found to be untrue, the company reserves the right to take disciplinary actions or to terminate the contract."
The Hudson Report said many employers believe the cost of making an inappropriate hire makes the reference-checking process worthwhile.
But, Ms Chong admitted that sometimes dishonest candidates get away with it.
"While you have in place processes, they may or may not be adhered to in a stringent manner, so they do get away with it.
"Let's say you're conducting a reference check, you need to have certain experience because sometimes it's not what the referee says, it's actually what the referee doesn't say," she said.
Turning to the employment market, Hudson said hiring expectations continue to rise, though at a slower rate.
Fifty eight per cent of respondents across all sectors expect to increase headcount in the current quarter.
And given better economic times, nearly a quarter of companies say they are experiencing turnover rates in excess of 10 per cent.
Most respondents are optimistic about the next six months, with 87 per cent forecasting excellent or good company performance.
- TODAY newspaper
Oct 27, 2010
Hiring expected in banking, healthcare, advertising
More jobs in Singapore's banking, healthcare and advertising sectors look set to be available towards the end of the year.
According to recruitment firm Hudson's latest report, companies' hiring expectations for the current quarter are much higher than those a year ago.
Fifty-eight per cent of respondents the study surveyed said there would be headcount growth from now till December.
This is compared to 34 per cent for the same period last year, and 57 per cent in the previous quarter.
The report also said overall hiring expectations remained at the highest level in nearly a decade.
Other industries that may hire more people include media, life sciences and Information and Technology.
Some 550 firms across various business sectors were surveyed for the report.
The report also found that 46 per cent of respondents have met job candidates who were dishonest in their resumes.
Many falsified their previous employment responsibilities and achievements.
In addition, the survey said about one-quarter of respondents saw an average of more than 10 per cent of their staff quitting in the last six months.
- Channel News Asia
According to recruitment firm Hudson's latest report, companies' hiring expectations for the current quarter are much higher than those a year ago.
Fifty-eight per cent of respondents the study surveyed said there would be headcount growth from now till December.
This is compared to 34 per cent for the same period last year, and 57 per cent in the previous quarter.
The report also said overall hiring expectations remained at the highest level in nearly a decade.
Other industries that may hire more people include media, life sciences and Information and Technology.
Some 550 firms across various business sectors were surveyed for the report.
The report also found that 46 per cent of respondents have met job candidates who were dishonest in their resumes.
Many falsified their previous employment responsibilities and achievements.
In addition, the survey said about one-quarter of respondents saw an average of more than 10 per cent of their staff quitting in the last six months.
- Channel News Asia
Oct 21, 2010
Stanchart to hire 300 more bankers
STANDARD Chartered Private Bank will ramp up hiring over the next three years to capitalise on the growing ranks of wealthy investors in Singapore and other regional centres.
Chief executive Shayne Nelson told a conference yesterday that the Republic is one of the bank's biggest Asian markets while the region as a whole is experiencing 'massive growth in wealth'.
He noted that Stanchart will hire 300 private bankers between now and 2013, and that a 'significant piece of that investment' in staff will be in Singapore and Hong Kong.
Mr Nelson, who is based here, noted that Singapore had a healthy position in the private banking sector and that China's growth will just keep propelling business.
'With the Chinese wanting to pull money out of China and diversify their investments... Singapore is very well placed.'
Indonesia, Malaysia and the Philippines also offered significant opportunities for private banking in Singapore, observed Mr Nelson, who was speaking on the sidelines of the 20th Private Banker International (PBI) Wealth Summit at Shangri-La Hotel.
- The Straits Times
Chief executive Shayne Nelson told a conference yesterday that the Republic is one of the bank's biggest Asian markets while the region as a whole is experiencing 'massive growth in wealth'.
He noted that Stanchart will hire 300 private bankers between now and 2013, and that a 'significant piece of that investment' in staff will be in Singapore and Hong Kong.
Mr Nelson, who is based here, noted that Singapore had a healthy position in the private banking sector and that China's growth will just keep propelling business.
'With the Chinese wanting to pull money out of China and diversify their investments... Singapore is very well placed.'
Indonesia, Malaysia and the Philippines also offered significant opportunities for private banking in Singapore, observed Mr Nelson, who was speaking on the sidelines of the 20th Private Banker International (PBI) Wealth Summit at Shangri-La Hotel.
- The Straits Times
Oct 8, 2010
New training, job-placement programmes
FOUR new training and job-placement programmes will be launched next year to attract younger Singaporeans into the electronics industry.
The National Trades Union Congress (NTUC) is partnering the Institute of Technical Education (ITE) in the tie-ups.
They were announced by NTUC's deputy secretary-general Halimah Yacob at a visit to smartcard maker Gemalto's plant in Ayer Rajah on Friday.
She said the initiatives will also equip workers to take up higher-value jobs in the electronics sector as Singapore's economy becomes more knowledge-intensive.
The four programmes are:
* A six-week specialist training programme to equip those completing full-time national service stints for technician jobs in the industry. It will be conducted by ITE and the NTUC's Employment and Employability Institute, or e2i.
* A36-month apprenticeship programme for job-seekers to work at sponsor companies and study the National ITE Certificate (Nitec) in electronics or mechatronics at the same time.
* A new two-year Nitec semiconductor technology course to be launched at ITE College Central from January, with an initial annual intake of 160 students.
*A three-month industrial attachment programme for ITE students studying electronics and mechatronics.
- The Straits Times
The National Trades Union Congress (NTUC) is partnering the Institute of Technical Education (ITE) in the tie-ups.
They were announced by NTUC's deputy secretary-general Halimah Yacob at a visit to smartcard maker Gemalto's plant in Ayer Rajah on Friday.
She said the initiatives will also equip workers to take up higher-value jobs in the electronics sector as Singapore's economy becomes more knowledge-intensive.
The four programmes are:
* A six-week specialist training programme to equip those completing full-time national service stints for technician jobs in the industry. It will be conducted by ITE and the NTUC's Employment and Employability Institute, or e2i.
* A36-month apprenticeship programme for job-seekers to work at sponsor companies and study the National ITE Certificate (Nitec) in electronics or mechatronics at the same time.
* A new two-year Nitec semiconductor technology course to be launched at ITE College Central from January, with an initial annual intake of 160 students.
*A three-month industrial attachment programme for ITE students studying electronics and mechatronics.
- The Straits Times
Oct 5, 2010
Stanchart to hire 1,200 more
STANDARD Chartered's consumer banking group, which has been aggressively expanding its private and priority banking operations, is now turning to the SME business which it hopes to double in the next three years, said its CEO.
The UK-based emerging markets-focused lender aims to hire 1,200 relationship managers to serve small and medium enterprises in the next three years, and will offer a broader range of services such as managing foreign exchange risks and coping with volatile commodity prices.
'Almost everything we are trying to do, we want to double,' Stanchart's CEO for global consumer banking Steve Bertamini told Reuters in an interview.
Stanchart has been a beneficiary of the global financial crisis, which led to the collapse or government-led bailouts of many larger rivals. Its three-and-a-half-year old private bank is already a big player in Asia while its priority banking business saw a doubling in new customers last year.
In August, the UK bank said it will try to further grow its wealth management business by hiring around 800 bankers for a new service aimed at affluent Asians who do not qualify for priority banking services.
Stanchart's consumer banking business, which includes the private bank and SME business, reported a 24 per cent rise in operating profit to US$643 million (S$846.2 million) in the first six months of this year. Its wholesale bank, which handles larger corporate clients and investment banking, saw operating profit jump 35 per cent to US$2.5 billion.
- Reuters
The UK-based emerging markets-focused lender aims to hire 1,200 relationship managers to serve small and medium enterprises in the next three years, and will offer a broader range of services such as managing foreign exchange risks and coping with volatile commodity prices.
'Almost everything we are trying to do, we want to double,' Stanchart's CEO for global consumer banking Steve Bertamini told Reuters in an interview.
Stanchart has been a beneficiary of the global financial crisis, which led to the collapse or government-led bailouts of many larger rivals. Its three-and-a-half-year old private bank is already a big player in Asia while its priority banking business saw a doubling in new customers last year.
In August, the UK bank said it will try to further grow its wealth management business by hiring around 800 bankers for a new service aimed at affluent Asians who do not qualify for priority banking services.
Stanchart's consumer banking business, which includes the private bank and SME business, reported a 24 per cent rise in operating profit to US$643 million (S$846.2 million) in the first six months of this year. Its wholesale bank, which handles larger corporate clients and investment banking, saw operating profit jump 35 per cent to US$2.5 billion.
- Reuters
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