Singapore's Q4 jobless rate grew slightly to 2.2 per cent from Q3's 2.1 per cent, according to the Ministry of Manpower preliminary unemployment data on Monday.
Among the resident labour force, the unemployment rate for Q4 was 3.1 per cent, unchanged from Q3.
Preliminary estimates also showed total employment in Singapore rose by 30,600 jobs in the quarter, up from 20,500 in the third quarter. The total workforce stood at 3.1 million.
The bulk of employment gains came from the services sector, while manufacturing shed 2,800 jobs in the last three months of 2010.
Karin Clarke, Randstad Regional Director, Singapore & Malaysia commented: ""We are seeing higher wage pressure within the entry-level, white collar roles. This is reflective of the increasing influx of degree qualified entry-level candidates - up 13% from 1999 - entering the Singapore market."
"Today's graduates have high salary expectations and strong confidence in their value. This is creating a gap within the labour market as graduates for the most part do not want call centre or clerical roles - that is they don't want to start at the bottom and make their way up."
- Reuters
Jan 28, 2011
Record job vacancies last year
The number of job vacancies rose 36% over the year to 50,200 in September 2010.
According to the latest annual job vacancies report released by the Ministry of Manpower (MOM) on Friday, the rise in vacancies was driven by Singapore's rapid and robust economic recovery.
In fact, MOM said it was the highest number of job vacancies recorded since the comparable series started in March 2006.
The highest number of vacancies was for service & sales workers (10,330 or 22% of total vacancies), followed by professionals (8,270 or 18%) and associate professionals & technicians (8,230 or 18%).
Nevertheless, in terms of the three broad occupational groupings, employers were most looking to hire professionals, managers, executives & technicians (PMETs) (44%), followed by clerical, service & sales workers (29%) and production & transport operators, cleaners & labourers (27%).
Corroborating with the high demand for PMETs, positions requiring at least a university degree qualification made up the highest number of vacancies at 10,570 or 23% of total vacancies.
This was followed closely by openings requiring at least secondary (9,840 or 21%) qualifications, reflecting the strong demand for service & sales workers.
The services share of vacancies increased steadily from 68% in 2006 to 75% in 2010, reflecting the growing importance of the service economy.
Manufacturing contributed 17% of all vacancies in 2010, down from 26% in 2006.
MOM said the decline in manufacturing's share of vacancies partly reflects the continual restructuring of the sector towards high tech and value-added activities.
With the completion of major building projects, construction's share of vacancies declined to 6.6% in 2010, from 8.1% in 2009, after rising from 4.2% in 2006.
Five in eight vacancies (63%) in 2010 required working experience, comparable with a year ago (62%).
Overall, job-specific experience (26%) was a more common requirement than industry-specific (19%) and general working experience (19%).
Amid the tighter labour market, one in three (33%) vacancies was unfilled for at least six months.
The MOM said due to the record level of job openings, the number of openings vacant for at least six months rose from 10,140 in 2009 to a five-year high of 15,360 in 2010.
Eight in 10 (81%) of these vacancies were for non-PMETs and the remaining (19%) were for PMETs.
- Channel News Asia
According to the latest annual job vacancies report released by the Ministry of Manpower (MOM) on Friday, the rise in vacancies was driven by Singapore's rapid and robust economic recovery.
In fact, MOM said it was the highest number of job vacancies recorded since the comparable series started in March 2006.
The highest number of vacancies was for service & sales workers (10,330 or 22% of total vacancies), followed by professionals (8,270 or 18%) and associate professionals & technicians (8,230 or 18%).
Nevertheless, in terms of the three broad occupational groupings, employers were most looking to hire professionals, managers, executives & technicians (PMETs) (44%), followed by clerical, service & sales workers (29%) and production & transport operators, cleaners & labourers (27%).
Corroborating with the high demand for PMETs, positions requiring at least a university degree qualification made up the highest number of vacancies at 10,570 or 23% of total vacancies.
This was followed closely by openings requiring at least secondary (9,840 or 21%) qualifications, reflecting the strong demand for service & sales workers.
The services share of vacancies increased steadily from 68% in 2006 to 75% in 2010, reflecting the growing importance of the service economy.
Manufacturing contributed 17% of all vacancies in 2010, down from 26% in 2006.
MOM said the decline in manufacturing's share of vacancies partly reflects the continual restructuring of the sector towards high tech and value-added activities.
With the completion of major building projects, construction's share of vacancies declined to 6.6% in 2010, from 8.1% in 2009, after rising from 4.2% in 2006.
Five in eight vacancies (63%) in 2010 required working experience, comparable with a year ago (62%).
Overall, job-specific experience (26%) was a more common requirement than industry-specific (19%) and general working experience (19%).
Amid the tighter labour market, one in three (33%) vacancies was unfilled for at least six months.
The MOM said due to the record level of job openings, the number of openings vacant for at least six months rose from 10,140 in 2009 to a five-year high of 15,360 in 2010.
Eight in 10 (81%) of these vacancies were for non-PMETs and the remaining (19%) were for PMETs.
- Channel News Asia
Jan 27, 2011
NUS Career Fair: Record number of employers
GRADUATING students from the National University of Singapore (NUS) will have their pick of jobs at the university's annual career fair, with a record number of participating employers offering significantly more opportunities than in 2010.
The NUS Career Fair, which started on Thursday and ends on Friday, has attracted 145 employers. On offer in 2011, are 4,200 full-time jobs.
In 2010, the 120 employers who attended the event offered 3,500 full-time jobs.
The university has also tied up with Singapore Human Resources Institute (Shri), a professional body, to give students and alumni a better chance to land jobs.
The tie-up provides them access to internships and jobs with Shri's 3,000 members, a majority of whom are HR professionals and key decision-makers in their organisations.
Announcing the tie-up, NUS deputy president of academic affairs and provost Professor Tan Eng Chye said the partnership will also allow students to take part in Shri's inter-personal skills programmes.
- The Straits Times
The NUS Career Fair, which started on Thursday and ends on Friday, has attracted 145 employers. On offer in 2011, are 4,200 full-time jobs.
In 2010, the 120 employers who attended the event offered 3,500 full-time jobs.
The university has also tied up with Singapore Human Resources Institute (Shri), a professional body, to give students and alumni a better chance to land jobs.
The tie-up provides them access to internships and jobs with Shri's 3,000 members, a majority of whom are HR professionals and key decision-makers in their organisations.
Announcing the tie-up, NUS deputy president of academic affairs and provost Professor Tan Eng Chye said the partnership will also allow students to take part in Shri's inter-personal skills programmes.
- The Straits Times
Jan 20, 2011
Hiring expectations at 11-year high
Singapore is seeing its highest level of hiring expectations in 11 years, said recruitment firm Hudson.
Sixty-two per cent of companies surveyed for its latest quarterly report said they plan to increase headcount in the first three months of this year.
Employers in the manufacturing and industrial sector are the most bullish, reporting the fastest growth in hiring expectations, with 61 per cent in the sector planning to increase hiring.
The report said this was partly due to pre-emptive hiring as they expect to lose some key employees after bonuses were paid this quarter.
But hiring expectations may be more cautious for the rest of the year.
Hudson Singapore executive general manager Georgie Chong said: "At 62 per cent, it's really at a historical high.
"And given that we still have some uncertainties in the economy in terms of what's happening in Europe, in terms of fear of inflation coming back (and) because of all those uncertainties, I'd say let's be cautious.
"(In the) first quarter, people are hiring to position for growth in 2011, but going into Q2, Q3, Q4, it's anybody's guess and in terms of business planning, we'd go for cautious growth and not irrational exuberance".
Given the tight market for talent, more firms are adopting measures to retain valued employees.
The most widely used options are employee recognition programmes and monetary incentives.
Offering work-life balance benefits have also become a key retention strategy for employers.
Recruitment firms say retaining workers in an economy which is still expected to do well this year will be a key challenge for HR managers and directors.
In fact, implementation of good retention strategies is expected to intensify as companies attempt to enhance loyalty and keep good workers.
Employees can also expect better bonuses paid out as more companies did well last year.
In a survey by Singapore Human Resource Institute, variable bonus averaged 2.3 months in 2010.
This is higher than 1.7 months the previous year.
Singapore Human Resources Institute executive director David Ang said: "Some of them would be expecting this before Chinese New Year, but there are also some companies (which) will stretch out the bonuses and incentive payments as a form of retention strategy, and I think this is a good strategy in terms of arresting some turnover of staff and so on.
"But if an employee is already looking forward to not staying in the organisation, then I think it's a disappointment if it's spaced out".
With inflation and rising salaries continuing to worry companies, HR practitioners say restraint on wage increase and bonuses this year will be evident.
- Channel News Asia
Sixty-two per cent of companies surveyed for its latest quarterly report said they plan to increase headcount in the first three months of this year.
Employers in the manufacturing and industrial sector are the most bullish, reporting the fastest growth in hiring expectations, with 61 per cent in the sector planning to increase hiring.
The report said this was partly due to pre-emptive hiring as they expect to lose some key employees after bonuses were paid this quarter.
But hiring expectations may be more cautious for the rest of the year.
Hudson Singapore executive general manager Georgie Chong said: "At 62 per cent, it's really at a historical high.
"And given that we still have some uncertainties in the economy in terms of what's happening in Europe, in terms of fear of inflation coming back (and) because of all those uncertainties, I'd say let's be cautious.
"(In the) first quarter, people are hiring to position for growth in 2011, but going into Q2, Q3, Q4, it's anybody's guess and in terms of business planning, we'd go for cautious growth and not irrational exuberance".
Given the tight market for talent, more firms are adopting measures to retain valued employees.
The most widely used options are employee recognition programmes and monetary incentives.
Offering work-life balance benefits have also become a key retention strategy for employers.
Recruitment firms say retaining workers in an economy which is still expected to do well this year will be a key challenge for HR managers and directors.
In fact, implementation of good retention strategies is expected to intensify as companies attempt to enhance loyalty and keep good workers.
Employees can also expect better bonuses paid out as more companies did well last year.
In a survey by Singapore Human Resource Institute, variable bonus averaged 2.3 months in 2010.
This is higher than 1.7 months the previous year.
Singapore Human Resources Institute executive director David Ang said: "Some of them would be expecting this before Chinese New Year, but there are also some companies (which) will stretch out the bonuses and incentive payments as a form of retention strategy, and I think this is a good strategy in terms of arresting some turnover of staff and so on.
"But if an employee is already looking forward to not staying in the organisation, then I think it's a disappointment if it's spaced out".
With inflation and rising salaries continuing to worry companies, HR practitioners say restraint on wage increase and bonuses this year will be evident.
- Channel News Asia
Jan 12, 2011
Work option for retiring staff starts next year
FROM next January, workers who turn 62 must be offered an option to work for another three years, if they want to.
That is official, after Parliament on Tuesday passed the Retirement and Re-employment Act.
Singapore is now the second country in the world - after Japan - to legislate re-employment, and the first to spell out eligibility criteria, a dispute-resolution mechanism and penalties for errant employers.
To qualify for re-employment, workers must be medically fit and have at least satisfactory work performance. The onus is on employers to prove that a worker is not eligible for re-employment.
In Parliament on Tuesday, Manpower Minister Gan Kim Yong urged employers to put in place systems to provide fair evaluation of workers' performance and medical fitness.
But employers can offer workers different jobs and employment terms, provided these are reasonable.
- The Straits Times
That is official, after Parliament on Tuesday passed the Retirement and Re-employment Act.
Singapore is now the second country in the world - after Japan - to legislate re-employment, and the first to spell out eligibility criteria, a dispute-resolution mechanism and penalties for errant employers.
To qualify for re-employment, workers must be medically fit and have at least satisfactory work performance. The onus is on employers to prove that a worker is not eligible for re-employment.
In Parliament on Tuesday, Manpower Minister Gan Kim Yong urged employers to put in place systems to provide fair evaluation of workers' performance and medical fitness.
But employers can offer workers different jobs and employment terms, provided these are reasonable.
- The Straits Times
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