THE number of job vacancies in Singapore hit a four-year high of 50,200 in September this year, reflecting the buoyant state of the economy.
It is a 36 per cent rise over the 36,900 openings the previous September, when Singapore was recovering from a recession.
Preliminary figures released on Thursday by the Ministry of Manpower show the vast majority (76 per cent) of the vacancies are in the services sector, a situation economists attribute to the sector being the top creator of jobs this year.
In contrast, job openings in manufacturing totalled 8,300 (17 per cent) and in construction, 3,300 (7 per cent).
The hunger for workers is especially acute in the hotel, retail and financial services industries, noted Citigroup economist Kit Wei Zheng. While the services sector is bulging with job openings, employers have found it hard to fill them as a result of government measures restricting the inflow of foreign workers, he said.
Barclays Capital economist Leong Wai Ho suggested that companies focus on retraining their workers to take on more work: 'They should also look at ways to recruit more older workers and also contract workers.'
The Straits Times
Dec 24, 2010
Dec 16, 2010
Levy changes to encourage hiring of local workers
Employers are hiring more older workers and economically inactive women following changes to the foreign worker levy scheme which were announced during the Budget in February.
The levy changes kicked in in stages from July this year till July 2012 to give companies time to adjust and invest in measures to boost productivity.
Speaking to Channel NewsAsia, Singapore National Employers Federation Chief, Stephen Lee, said companies are now looking for better quality and better trained foreign workers, not just for more workers. This also leads to more older workers and women being hired.
"The good news is that the labour participation rate is at an all time high of 77 percent. And one of the contributors of this is more older workers are working and more women are working. It shows that companies are tapping into older workers and the economically inactive women," said Singapore National Employers Federation Chief, Stephen Lee.
Meanwhile, Manpower Minister Gan Kim Yong said that the move to raise foreign worker levy was also aimed at getting employers to hire local workers.
"Other than raising the levy, we have also adjusted the levy tiers so as to encourage the employers to have as low a reliance on foreign workers as possible. We have also over time, raised the entry bar for foreign workers. We have enhanced the requirements for training, experience as well as types of jobs to qualify for skilled workers and S pass," said Mr Gan.
As for high value added, export oriented sectors which need foreign workers, Mr Gan added that these employers will have to pay more.
"For sectors and companies that do need certain foreign talents and foreign workers because their job is very high valued they are export oriented and they have to complete globally, they will continue to have access because we have not adjusted the dependency ratio.
"However, there is a cost to the society and to the nation in employing foreign workers and so they have to bear a higher cost and a higher tier of levy with a tighter dependency ratio if they were to move up the reliance."
Mr Gan said this allows companies flexibility to hire foreign workers but demand is kept in check with a pricing mechanism.
- Channel News Asia
The levy changes kicked in in stages from July this year till July 2012 to give companies time to adjust and invest in measures to boost productivity.
Speaking to Channel NewsAsia, Singapore National Employers Federation Chief, Stephen Lee, said companies are now looking for better quality and better trained foreign workers, not just for more workers. This also leads to more older workers and women being hired.
"The good news is that the labour participation rate is at an all time high of 77 percent. And one of the contributors of this is more older workers are working and more women are working. It shows that companies are tapping into older workers and the economically inactive women," said Singapore National Employers Federation Chief, Stephen Lee.
Meanwhile, Manpower Minister Gan Kim Yong said that the move to raise foreign worker levy was also aimed at getting employers to hire local workers.
"Other than raising the levy, we have also adjusted the levy tiers so as to encourage the employers to have as low a reliance on foreign workers as possible. We have also over time, raised the entry bar for foreign workers. We have enhanced the requirements for training, experience as well as types of jobs to qualify for skilled workers and S pass," said Mr Gan.
As for high value added, export oriented sectors which need foreign workers, Mr Gan added that these employers will have to pay more.
"For sectors and companies that do need certain foreign talents and foreign workers because their job is very high valued they are export oriented and they have to complete globally, they will continue to have access because we have not adjusted the dependency ratio.
"However, there is a cost to the society and to the nation in employing foreign workers and so they have to bear a higher cost and a higher tier of levy with a tighter dependency ratio if they were to move up the reliance."
Mr Gan said this allows companies flexibility to hire foreign workers but demand is kept in check with a pricing mechanism.
- Channel News Asia
Nov 30, 2010
Employment at a high
SINGAPORE'S robust economic recovery and tight labour market over the past year have brought cheer for workers on several fronts, going by data in a just-released report on employment and earnings.
Employment among residents which is at its highest level since 1991 - when the Government started collecting and publishing data on the resident workforce and employment rate - was fuelled in part by more women and older residents being attracted to join the workforce.
Employees were also pocketing slightly higher salaries. The median monthly income for all employed residents was $2,500 as at June this year.
While this was a 3.3 per cent spike compared to $2,420 as at June last year, the real change for workers - after adjusting for inflation - was just 1 per cent.
Still, the increase pushed income levels closer towards the Government's goal of raising Singaporeans' median income to $3,100 by 2020.
Also encouraging in the Singapore Workforce 2010 report, released on Tuesday by the Manpower Ministry, was data which showed a modest drop in the number of low-wage workers - those who earn $1,200 or less a month.
The Straits Times
Employment among residents which is at its highest level since 1991 - when the Government started collecting and publishing data on the resident workforce and employment rate - was fuelled in part by more women and older residents being attracted to join the workforce.
Employees were also pocketing slightly higher salaries. The median monthly income for all employed residents was $2,500 as at June this year.
While this was a 3.3 per cent spike compared to $2,420 as at June last year, the real change for workers - after adjusting for inflation - was just 1 per cent.
Still, the increase pushed income levels closer towards the Government's goal of raising Singaporeans' median income to $3,100 by 2020.
Also encouraging in the Singapore Workforce 2010 report, released on Tuesday by the Manpower Ministry, was data which showed a modest drop in the number of low-wage workers - those who earn $1,200 or less a month.
The Straits Times
Nov 25, 2010
Dyson to boost Singapore headcount
HOME appliance manufacturer Dyson says that it will be raising its headcount in Singapore sevenfold.
Dyson's PR and communications executive Rachel Choong told The Business Times on Thursday that the company's R&D centre in Singapore currently has a staff headcount of 30. This number - mostly made up of scientists and engineers - is expected to increase to over 200. No specific timeframe was mentioned.
The company will also be recruiting for other skilled roles such as acoustics specialists. Headquartered in the UK, Dyson is best known for producing bagless vacuum cleaners, energy efficient hand-dryers and bladeless fans.
Its Singapore facility, which has been developing and manufacturing the company's patented digital motors since 2000, will be tasked with continuing to develop the next generation digital motors, as well as all non-vacuum cleaner products.
Easy pain relief now!
In order to accommodate the expansion, Dyson Singapore will move from its current 480 square metre premises at Science Park III to a 2,700 sq metre facility at Alexandra Technopark. The move to the larger premises is slated for next month.
Dyson chief executive Martin McCourt said Singapore was chosen based on the quality of its engineers.
'Last year Dyson invested 42 million pounds (S$87.2 million) into research and development and this will rise to ?50 million this year. We've got ambitious growth plans: more people, more products and expansion into more markets. And we feel that Singapore is well-placed to find the bright minds that we need to realise our ambitions,' he said.
Besides Singapore, Dyson has facilities in Chicago, Toronto and Johor. The plant in Malaysia is Dyson's manufacturing and assembly base.
The company currently exports to 51 countries.
Ms Choong said that plans are underway to increase exports to as many as 70 countries, including China, where the company had a false start.
- The Business Times
Dyson's PR and communications executive Rachel Choong told The Business Times on Thursday that the company's R&D centre in Singapore currently has a staff headcount of 30. This number - mostly made up of scientists and engineers - is expected to increase to over 200. No specific timeframe was mentioned.
The company will also be recruiting for other skilled roles such as acoustics specialists. Headquartered in the UK, Dyson is best known for producing bagless vacuum cleaners, energy efficient hand-dryers and bladeless fans.
Its Singapore facility, which has been developing and manufacturing the company's patented digital motors since 2000, will be tasked with continuing to develop the next generation digital motors, as well as all non-vacuum cleaner products.
Easy pain relief now!
In order to accommodate the expansion, Dyson Singapore will move from its current 480 square metre premises at Science Park III to a 2,700 sq metre facility at Alexandra Technopark. The move to the larger premises is slated for next month.
Dyson chief executive Martin McCourt said Singapore was chosen based on the quality of its engineers.
'Last year Dyson invested 42 million pounds (S$87.2 million) into research and development and this will rise to ?50 million this year. We've got ambitious growth plans: more people, more products and expansion into more markets. And we feel that Singapore is well-placed to find the bright minds that we need to realise our ambitions,' he said.
Besides Singapore, Dyson has facilities in Chicago, Toronto and Johor. The plant in Malaysia is Dyson's manufacturing and assembly base.
The company currently exports to 51 countries.
Ms Choong said that plans are underway to increase exports to as many as 70 countries, including China, where the company had a false start.
- The Business Times
Nov 3, 2010
Fewer seek CDCs for job help
FEWER new job seekers are approaching the Community Development Councils (CDCs) for help in getting employment - thanks to the improved economy.
There were 18,000 new job seekers registered with the CDCs from January to September, down from 31,000 for the same period in 2009.
During this period, over 3,200 of them were placed into jobs, down from 6,000 a year ago. The drop was partly due to fewer job seekers registering for employment help, as more job openings became available.
The downward trend is also seen in the number of CDC referrals for training. From July to September, the CDC career centres referred over 1,600 job seekers for training, 3 per cent less than the same period last year.
The number seeking social assistance has also declined. Some 10,100 people sought social assistance from the CDCs between July and September 2010 - a drop of 10 per cent from the corresponding period last year, and 3 per cent lower than the previous quarter.
North East District mayor Teo Ser Luck said: 'The numbers reflect the improving economic situation.
'Although we are now seeing pre-recession numbers, in terms of residents seeking for assistance, the positive effect may not have reached some and there will always be those who are in need.'
- The Straits Times
There were 18,000 new job seekers registered with the CDCs from January to September, down from 31,000 for the same period in 2009.
During this period, over 3,200 of them were placed into jobs, down from 6,000 a year ago. The drop was partly due to fewer job seekers registering for employment help, as more job openings became available.
The downward trend is also seen in the number of CDC referrals for training. From July to September, the CDC career centres referred over 1,600 job seekers for training, 3 per cent less than the same period last year.
The number seeking social assistance has also declined. Some 10,100 people sought social assistance from the CDCs between July and September 2010 - a drop of 10 per cent from the corresponding period last year, and 3 per cent lower than the previous quarter.
North East District mayor Teo Ser Luck said: 'The numbers reflect the improving economic situation.
'Although we are now seeing pre-recession numbers, in terms of residents seeking for assistance, the positive effect may not have reached some and there will always be those who are in need.'
- The Straits Times
Nov 1, 2010
Singapore Employers Boost Payrolls, Pulling Unemployment Rate Down to 2.1%
Singapore employers expanded payrolls for a fifth consecutive quarter, pushing the jobless rate to the lowest in 2 1/2 years.
The city-state added an estimated 24,100 jobs in the three months ended September, after the creation of 24,900 positions in the second quarter of 2010, the Ministry of Manpower said in a statement today.
The seasonally adjusted unemployment rate fell to 2.1 percent from 2.2 percent the previous quarter, beating the median estimate of 2.2 percent in a Bloomberg News survey of 12 economists.
Singapore’s services industry is still expanding even after weakening overseas demand for manufactured goods caused the economy to contract last quarter.
The city’s two casino resorts run by Genting Singapore Plc and Las Vegas Sands Corp. have attracted millions to its gaming centers, helping boost spending at malls and restaurants.
“The employment creation came primarily from services,” the Ministry of Manpower said today. “Construction employment rose marginally due to the completion of major building projects earlier in the year.”
The services industry added 24,100 jobs last quarter while construction companies increased hiring by 100, the report showed, citing preliminary data. The manufacturing industry cut 400 jobs. A total of 85,500 jobs have been created in the first nine months of 2010.
Singapore’s central bank this week reiterated the government’s forecast for a 2010 expansion of as much as 15 percent, and said the $182 billion economy will “grow in line with its potential” in 2011, without providing figures.
“Compared to this year, when the manufacturing sector experienced a sharp surge in activity, gross domestic product growth next year will be driven more by the services sector,” the central bank said Oct 27.
- Bloomberg
The city-state added an estimated 24,100 jobs in the three months ended September, after the creation of 24,900 positions in the second quarter of 2010, the Ministry of Manpower said in a statement today.
The seasonally adjusted unemployment rate fell to 2.1 percent from 2.2 percent the previous quarter, beating the median estimate of 2.2 percent in a Bloomberg News survey of 12 economists.
Singapore’s services industry is still expanding even after weakening overseas demand for manufactured goods caused the economy to contract last quarter.
The city’s two casino resorts run by Genting Singapore Plc and Las Vegas Sands Corp. have attracted millions to its gaming centers, helping boost spending at malls and restaurants.
“The employment creation came primarily from services,” the Ministry of Manpower said today. “Construction employment rose marginally due to the completion of major building projects earlier in the year.”
The services industry added 24,100 jobs last quarter while construction companies increased hiring by 100, the report showed, citing preliminary data. The manufacturing industry cut 400 jobs. A total of 85,500 jobs have been created in the first nine months of 2010.
Singapore’s central bank this week reiterated the government’s forecast for a 2010 expansion of as much as 15 percent, and said the $182 billion economy will “grow in line with its potential” in 2011, without providing figures.
“Compared to this year, when the manufacturing sector experienced a sharp surge in activity, gross domestic product growth next year will be driven more by the services sector,” the central bank said Oct 27.
- Bloomberg
Oct 28, 2010
24,100 new jobs in Q3
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
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
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