A manpower survey released today has revealed that 37 per cent of employers in Singapore struggle to fill job positions; compared to the global average of 34 per cent.
ManpowerGroup's seventh annual Talent Shortage Survey found that the jobs Singapore employers have most difficulty filling are production operators, accounting and finance staff and engineers.
For another consecutive year, engineers and sales representatives have stayed on the top ten chart as the most difficult roles to fill.
Common reasons cited by Singapore employers are the lack of available applicants (38 per cent) and lack of technical competencies (14 per cent).
When asked what strategies employers were pursuing to overcome their difficulties filling positions, the most common responses were to partner with educational institutions to align with talent needs, focus more on improving pipelines and providing additional training and development to existing staff to fill vacancies.
ManpowerGroup warned that if employers resign themselves to their inability to source for the skilled talent they need to grow their businesses, it will threaten to derail business plans for years to come.
"Alarmingly, employers are less concerned about the impact talent shortages are having on clients and investors, with 21 per cent of employers indicating that there is a high impact while 44 per cent indicate a medium impact on stakeholders," said Linda Teo, Country Manager of Manpower Singapore.
"Employers may not think leaving important positions unfilled is a problem now, but they will in years to come when it will be too late," she added.
She said access to talent is a key competitive differentiator and companies which succeed in this will be those that employ a comprehensive workforce strategy closely aligned with business strategy.
"A successful workforce strategy will identify and solve current talent acquisition challenges, anticipate future challenges and put in place solutions to address them effectively," she advised companies.
She dished out some tips for human resource personnel, such as to hire workers who are teachable, utilising strategic migration, employing flexible workers, engaging in hyperspecialisation, and recruiting within untapped pools of talent like women and youth.
Globally, employers having the most difficulty finding the right people to fill jobs are those in Japan, which topped the survey at 81 per cent.
Australia placed fourth, with 50 per cent of employers reporting talent shortages, followed by those in India and New Zealand, which tied in sixth place at 48 per cent.
Taiwan came close behind in the top 10, with 47 per cent reporting talent shortages.
- AsiaOne
Showing posts with label statistics. Show all posts
Showing posts with label statistics. Show all posts
Apr 30, 2012
Unemployment in Singapore up slightly
Unemployment in Singapore rose slightly in the first quarter of this year, amid an increase in the number of layoffs in the earlier quarter which eased off into this year.
Employment creation remained fairly strong, although it moderated slightly in the first quarter of 2012. According to an "Employment Situation, First Quarter 2012" report released on Monday by the Ministry of Manpower, total employment is estimated to have grown by 27,400 in the first three months of this year.
This was lower than the 37,600 in the fourth quarter and the 28,300 in the first quarter of 2011. Most of the employment gains came from services, which added 19,800 workers.
Construction employment continued to register a strong increase of 8,000. Manufacturing employment declined by 500. It laid off fewer workers (800) in the first quarter this year, after its large cutback in the preceding quarter (1,660).
About 2,700 workers were made redundant in the first three months of this year, which is lower than the 3,250 workers affected in the last quarter of 2011, but close to the 2,750 laid off in the first quarter of 2011.
The seasonally adjusted overall unemployment rate increased slightly from 2 per cent in December 2011 to 2.1 per cent in March 2012.
Similarly, the unemployment rate rose over the same period for residents from 2.9 per cent to 3 per cent and citizens from 3 per cent to 3.2 per cent.
An estimated 59,100 residents, including 52,800 Singapore citizens were unemployed in March 2012. The seasonally adjusted figures were 64,000 for residents and 57,700 for citizens.
Those who wish to find out more can visit the Ministry of Manpower's website at www.mom.gov.sg/mrsd/publication.
More comprehensive labour market data will be released in the "Labour Market Report, First Quarter 2012" on 15 June 2012. - AsiaOne
Employment creation remained fairly strong, although it moderated slightly in the first quarter of 2012. According to an "Employment Situation, First Quarter 2012" report released on Monday by the Ministry of Manpower, total employment is estimated to have grown by 27,400 in the first three months of this year.
This was lower than the 37,600 in the fourth quarter and the 28,300 in the first quarter of 2011. Most of the employment gains came from services, which added 19,800 workers.
Construction employment continued to register a strong increase of 8,000. Manufacturing employment declined by 500. It laid off fewer workers (800) in the first quarter this year, after its large cutback in the preceding quarter (1,660).
About 2,700 workers were made redundant in the first three months of this year, which is lower than the 3,250 workers affected in the last quarter of 2011, but close to the 2,750 laid off in the first quarter of 2011.
The seasonally adjusted overall unemployment rate increased slightly from 2 per cent in December 2011 to 2.1 per cent in March 2012.
Similarly, the unemployment rate rose over the same period for residents from 2.9 per cent to 3 per cent and citizens from 3 per cent to 3.2 per cent.
An estimated 59,100 residents, including 52,800 Singapore citizens were unemployed in March 2012. The seasonally adjusted figures were 64,000 for residents and 57,700 for citizens.
Those who wish to find out more can visit the Ministry of Manpower's website at www.mom.gov.sg/mrsd/publication.
More comprehensive labour market data will be released in the "Labour Market Report, First Quarter 2012" on 15 June 2012. - AsiaOne
Nov 30, 2011
Job rate hits new high
Singapore's job market appeared rosy in 2011, with the employment rate hitting a new high of 78 per cent for the resident population aged 25 to 64.
This surpassed the previous high of 77.1 per cent in 2010.
The Ministry of Manpower (MOM) said this reflected both the stable high in labour force participation rate and a lower unemployment rate.
The resident unemployment rate fell to a non-seasonally adjusted 3.9 per cent in June 2011, from 4.1 per cent in June 2010 and 5.9 per cent in June 2009.
The pool of economically-active residents increased over the year by 1.6 per cent in June 2011.
It is lower than the growth of 3.1 per cent in 2010 and the average of 2.6 per cent per annum from 2001 to 2011.
Another noteworthy trend is the "good progress" in the job rate for women and older residents.
For older residents, a record 61.2 per cent of residents aged 55 to 64 were working in 2011, up from 59 per cent a year ago.
The employment rate for males in this age group climbed from 75 per cent to 76.4 per cent while the rate for females rose from 43.4 per cent to 46.3 per cent.
The employment rate for women in the prime-working ages of 25 to 54 also rose to another high -- from 71.7 per cent in 2010 to 73 per cent in 2011.
Amid the tightened immigration framework, the number of permanent residents in the population fell by 1.7 per cent over the year in June 2011, after growing 1.5 per cent in 2010 and 11.5 per cent in 2009.
The resident labour force participation rate stabilised in 2011, after trending upwards gradually over time.
Growth in the resident labour force moderated in 2011, reflecting the absolute decline in number of permanent residents in the population.
There were 2.08 million residents in the labour force as at June 2011.
MOM said 66.1 per cent of the resident population aged 15 and over were either working or actively seeking work in 2011, similar to the record 66.2 per cent in 2010 and higher than 64.4 per cent in 2001.
Meanwhile, nominal incomes rose strongly in 2011, amid a tighter labour market.
The median monthly income from work (including employer CPF contributions) of full-time employed residents rose by 8.3 per cent over the year to S$3,249 in 2011.
It is higher than the growth of 2.5 per cent in 2010.
Taking headline inflation into account, the median income rose in real terms by 3.1 per cent in 2011, after a slight dip of 0.3 per cent in 2010.
- Channel News Asia
This surpassed the previous high of 77.1 per cent in 2010.
The Ministry of Manpower (MOM) said this reflected both the stable high in labour force participation rate and a lower unemployment rate.
The resident unemployment rate fell to a non-seasonally adjusted 3.9 per cent in June 2011, from 4.1 per cent in June 2010 and 5.9 per cent in June 2009.
The pool of economically-active residents increased over the year by 1.6 per cent in June 2011.
It is lower than the growth of 3.1 per cent in 2010 and the average of 2.6 per cent per annum from 2001 to 2011.
Another noteworthy trend is the "good progress" in the job rate for women and older residents.
For older residents, a record 61.2 per cent of residents aged 55 to 64 were working in 2011, up from 59 per cent a year ago.
The employment rate for males in this age group climbed from 75 per cent to 76.4 per cent while the rate for females rose from 43.4 per cent to 46.3 per cent.
The employment rate for women in the prime-working ages of 25 to 54 also rose to another high -- from 71.7 per cent in 2010 to 73 per cent in 2011.
Amid the tightened immigration framework, the number of permanent residents in the population fell by 1.7 per cent over the year in June 2011, after growing 1.5 per cent in 2010 and 11.5 per cent in 2009.
The resident labour force participation rate stabilised in 2011, after trending upwards gradually over time.
Growth in the resident labour force moderated in 2011, reflecting the absolute decline in number of permanent residents in the population.
There were 2.08 million residents in the labour force as at June 2011.
MOM said 66.1 per cent of the resident population aged 15 and over were either working or actively seeking work in 2011, similar to the record 66.2 per cent in 2010 and higher than 64.4 per cent in 2001.
Meanwhile, nominal incomes rose strongly in 2011, amid a tighter labour market.
The median monthly income from work (including employer CPF contributions) of full-time employed residents rose by 8.3 per cent over the year to S$3,249 in 2011.
It is higher than the growth of 2.5 per cent in 2010.
Taking headline inflation into account, the median income rose in real terms by 3.1 per cent in 2011, after a slight dip of 0.3 per cent in 2010.
- Channel News Asia
Jul 29, 2011
Unemployment up to 2.1% in second quarter
SINGAPORE'S unemployment crept up to 2.1 per cent in the second quarter of this year, from a three-year low of 1.9 per cent in the previous quarter.
The Manpower Ministry, in releasing preliminary estimates, said the rise came as a result of slower job creation.
The 22,800 jobs created between April and June represented a 19 per cent fall from the previous quarter and is a second consecutive quarter-on-quarter decline in employment growth.
The services sector alone accounted for the drop, with new jobs in that sector falling from 26,500 to 18,800. Job creation picked up speed in the other two sectors - manufacturing and construction.
The Ministry estimates that 81,300 Singapore residents were unemployed as of June this year, up from 54,300 in March.
The figure reflects "the increase in job seekers as tertiary graduates entered the labour market and students sought employment during the mid-year school vacation", it said.
- The Straits Times
The Manpower Ministry, in releasing preliminary estimates, said the rise came as a result of slower job creation.
The 22,800 jobs created between April and June represented a 19 per cent fall from the previous quarter and is a second consecutive quarter-on-quarter decline in employment growth.
The services sector alone accounted for the drop, with new jobs in that sector falling from 26,500 to 18,800. Job creation picked up speed in the other two sectors - manufacturing and construction.
The Ministry estimates that 81,300 Singapore residents were unemployed as of June this year, up from 54,300 in March.
The figure reflects "the increase in job seekers as tertiary graduates entered the labour market and students sought employment during the mid-year school vacation", it said.
- The Straits Times
Apr 26, 2011
Fewer layoffs, but manufacturing still vulnerable
FAR fewer workers lost their jobs last year as the economy recovered, but Singapore's manufacturing sector workers remain vulnerable to layoffs, according to a Manpower Ministry report yesterday.
It showed that 9,800 workers were laid off last year, a significant drop from the 23,430 who lost their jobs in the recession year of 2009.
The rate of layoffs - at 5.7 workers for every 1,000 employees - was also the lowest since the ministry's Redundancy and Re-employment data series began in 1998.
In fact, the manufacturing sector, which was hard hit by the 2009 recession, recorded the largest drop in the number of workers laid off. This came mostly from the electronics, machinery and transport equipment sectors.
Yet, manufacturing workers are still more likely to be retrenched or have their contracts terminated early, the report said.
Last year, 12 workers were laid off for every 1,000 employed in manufacturing. This compares with 3.5 for services and 5.4 for construction.
- The Straits Times
It showed that 9,800 workers were laid off last year, a significant drop from the 23,430 who lost their jobs in the recession year of 2009.
The rate of layoffs - at 5.7 workers for every 1,000 employees - was also the lowest since the ministry's Redundancy and Re-employment data series began in 1998.
In fact, the manufacturing sector, which was hard hit by the 2009 recession, recorded the largest drop in the number of workers laid off. This came mostly from the electronics, machinery and transport equipment sectors.
Yet, manufacturing workers are still more likely to be retrenched or have their contracts terminated early, the report said.
Last year, 12 workers were laid off for every 1,000 employed in manufacturing. This compares with 3.5 for services and 5.4 for construction.
- The Straits Times
Mar 21, 2011
More found jobs; higher salaries
WITH the economic recovery, the Class of 2010 from the three local universities are reporting higher employment rates and better starting salaries compared to graduates from the year before.
In particular, graduates from the Singapore Management University(SMU) last year had a record employment rate of 99.9 per cent and higher starting salaries across five of the university's degree programmes, surpassing the performance of graduates in 2009, when 96.8 per cent found employment.
At the National University of Singapore and the Nanyang Technological University, about 90 per cent found jobs within six months.
These were among the findings of the Graduate Employment Survey just released by the Education Ministry.
The average monthly salary among SMU graduates in full-time jobs was $3,271, an improvement of 5.8 per cent over 2009's figure of $3,093 - it is also the highest for SMU graduates since its first cohort graduated in 2004.
In addition, the top 20 per cent of its graduates, usually those working in financial institutions, brought home an average salary of $5,062. There were some among the 125 top-earners who were paid up to $13,000 a month.
- The Straits Times
In particular, graduates from the Singapore Management University(SMU) last year had a record employment rate of 99.9 per cent and higher starting salaries across five of the university's degree programmes, surpassing the performance of graduates in 2009, when 96.8 per cent found employment.
At the National University of Singapore and the Nanyang Technological University, about 90 per cent found jobs within six months.
These were among the findings of the Graduate Employment Survey just released by the Education Ministry.
The average monthly salary among SMU graduates in full-time jobs was $3,271, an improvement of 5.8 per cent over 2009's figure of $3,093 - it is also the highest for SMU graduates since its first cohort graduated in 2004.
In addition, the top 20 per cent of its graduates, usually those working in financial institutions, brought home an average salary of $5,062. There were some among the 125 top-earners who were paid up to $13,000 a month.
- The Straits Times
Mar 15, 2011
More than 115,000 jobs created last year
There were a total of 115,900 jobs created in Singapore for the whole of last year. This was a slight adjustment to an earlier estimate of 112,500.
The Manpower Ministry said the total employment growth far exceeded the 37,600 jobs in 2009.
In its labour market report for 2010, MOM highlighted that the labour market recovered strongly last year from the 2009 recession, bolstered by the robust economic performance.
Recruitment companies also said that job-seekers are also finding work in shorter periods of time.
Foong Wei Liang, Talent Attraction Manager at Adecco, said: "Due to the fact that employers are going to need to hire quickly when they have determined that a candidate is right for their organisation, experienced and qualified job seekers know that they may have several job offers to choose from.
"Any procrastination from hiring managers could see lost recruitment opportunities and that's not something that any organisation wants to endure when the labour market is so tight."
The services sector contributed the bulk of employment gains of 111,000 in 2010, almost double that the previous year.
Construction employment grew by 2,500 down substantially from the gains of 25,100 in 2009.
This was mainly due to the completion of several large building projects and fewer new projects coming on stream.
Manufacturing employment declined by 1,100. However, this was much lower than the losses of 43,700 in 2009.
Last year, local employment grew by 56,200 while the number of foreigners, excluding foreign domestic workers, employed increased by 54,400.
As at December 2010, there were 1,992,700 locals in employment, forming around two in three of the 3,105,900 persons employed in Singapore. The remaining 1,113,200 were foreigners.
Overall unemployment rate was 2.2 per cent last year, down significantly from 3 per cent in 2009.
Fewer workers were laid off for the whole of 2010, despite an increase in the last quarter.
Redundancies for the whole year totalled 9,800 down from 23,430 in 2009. This was the second lowest redundancy level, since the start of the data series in 1998.
With the strong economy, job vacancies rose by 23 per cent in December last year, after dipping slightly in September.
With the tighter labour market, workers' earnings have risen.
Nominal earnings grew by 7.5 per cent over the year in the fourth quarter of 2010. Weighed down by higher inflation, real earnings rose by 3.4 per cent.
Labour productivity has also increased, driven by the strong output growth. It grew over the year by 7.8 per cent in the fourth quarter, higher than the 6.2 per cent increase in the previous quarter.
- Channel News Asia
The Manpower Ministry said the total employment growth far exceeded the 37,600 jobs in 2009.
In its labour market report for 2010, MOM highlighted that the labour market recovered strongly last year from the 2009 recession, bolstered by the robust economic performance.
Recruitment companies also said that job-seekers are also finding work in shorter periods of time.
Foong Wei Liang, Talent Attraction Manager at Adecco, said: "Due to the fact that employers are going to need to hire quickly when they have determined that a candidate is right for their organisation, experienced and qualified job seekers know that they may have several job offers to choose from.
"Any procrastination from hiring managers could see lost recruitment opportunities and that's not something that any organisation wants to endure when the labour market is so tight."
The services sector contributed the bulk of employment gains of 111,000 in 2010, almost double that the previous year.
Construction employment grew by 2,500 down substantially from the gains of 25,100 in 2009.
This was mainly due to the completion of several large building projects and fewer new projects coming on stream.
Manufacturing employment declined by 1,100. However, this was much lower than the losses of 43,700 in 2009.
Last year, local employment grew by 56,200 while the number of foreigners, excluding foreign domestic workers, employed increased by 54,400.
As at December 2010, there were 1,992,700 locals in employment, forming around two in three of the 3,105,900 persons employed in Singapore. The remaining 1,113,200 were foreigners.
Overall unemployment rate was 2.2 per cent last year, down significantly from 3 per cent in 2009.
Fewer workers were laid off for the whole of 2010, despite an increase in the last quarter.
Redundancies for the whole year totalled 9,800 down from 23,430 in 2009. This was the second lowest redundancy level, since the start of the data series in 1998.
With the strong economy, job vacancies rose by 23 per cent in December last year, after dipping slightly in September.
With the tighter labour market, workers' earnings have risen.
Nominal earnings grew by 7.5 per cent over the year in the fourth quarter of 2010. Weighed down by higher inflation, real earnings rose by 3.4 per cent.
Labour productivity has also increased, driven by the strong output growth. It grew over the year by 7.8 per cent in the fourth quarter, higher than the 6.2 per cent increase in the previous quarter.
- Channel News Asia
Feb 1, 2011
New jobs almost tripled last year
SINGAPORE employers added jobs at the fastest pace in the past three quarters as businesses ramped up hiring to meet demand during the year-end festivities.
About 30,600 people found jobs in the last three months of last year, boosting the number of new positions created for the whole of last year to 112,500, according to preliminary data released by the Ministry of Manpower (MOM) yesterday.
This is a huge, almost threefold, increase from the 37,600 new jobs added in 2009, when the financial crisis was still sweeping across the world.
In turn, the seasonally adjusted unemployment rate in the last quarter stood at 2.2 per cent, up marginally from the previous quarter's 2.1 per cent. On a year-on-year basis, the overall jobless rate averaged a healthy low of 2.2 per cent last year, down from the 3 per cent in 2009, as the Singapore economy rebounded strongly.
Said Manpower Minister Gan Kim Yong yesterday: "Going forward, if the economy stays on track to achieve the expected 4 to 6 per cent growth this year, the labour market will remain tight.
"This underscores the need for us to press on with our efforts to raise productivity and to moderate our dependency on foreign workers."
He was speaking on the sidelines of the graduation ceremony for the pioneering batch of students who had undergone the Heartland Retail Workforce Upskilling Programme in Chua Chu Kang.
Aimed at encouraging small and medium-sized enterprises to beef up their retail and service skills, the programme has grown to involve about 100 shops from six shopping centres, and about 280 people, since it began last September.
Mr Gan noted that the foreign- worker influx continues to be a matter close to the hearts of many Singaporeans, even as the number of jobs rise.
He said this is why the Government is not only urging employers to re-look their business process to raise productivity, but also to take more steps to encourage women to re-join the workforce and for older employees to work past the retirement age.
MOM's data yesterday was particularly encouraging as it showed that the unemployment rate among Singapore residents dropped significantly from 4.3 per cent in 2009 to 3.1 per cent last year. Nearly half of the new jobs - 54,200 - created last year went to locals, surpassing the 41,800 the year before.
Excluding foreign domestic workers, foreign employment rose by 53,000 over the year to stand at 31.4 per cent of the workforce in December last year, a notch up from the 30.7 per cent a year ago.
"The growth in foreign worker hires, excluding domestic workers, is lower than the 80,000 we had projected," said Mr Gan. The services sector led in the hiring last year, adding 109,500 workers, as opposed to the 55,600 increase in 2009. Jobs in the manufacturing sector, meanwhile, declined by 2,700. However, this was much lower than the 43,700 loss the year before.
According to the latest Business Expectations Survey, also released by the Government yesterday, the services sector continues to be strongly optimistic about growth in the next six months.
The amusement and recreation industry was found to be the most optimistic.
Resorts World Sentosa, for instance, said it held a very positive business outlook this year.
"We've surpassed our target of attracting 15 million visitors in our first year of operations and, as more of our attractions are slated to open within the next two years, we're looking to recruit another 2,000 to 3,000 more staff, in addition to our 12,000 employees," said Mr Robin Goh, the resort's assistant director of communications.
- My Paper
About 30,600 people found jobs in the last three months of last year, boosting the number of new positions created for the whole of last year to 112,500, according to preliminary data released by the Ministry of Manpower (MOM) yesterday.
This is a huge, almost threefold, increase from the 37,600 new jobs added in 2009, when the financial crisis was still sweeping across the world.
In turn, the seasonally adjusted unemployment rate in the last quarter stood at 2.2 per cent, up marginally from the previous quarter's 2.1 per cent. On a year-on-year basis, the overall jobless rate averaged a healthy low of 2.2 per cent last year, down from the 3 per cent in 2009, as the Singapore economy rebounded strongly.
Said Manpower Minister Gan Kim Yong yesterday: "Going forward, if the economy stays on track to achieve the expected 4 to 6 per cent growth this year, the labour market will remain tight.
"This underscores the need for us to press on with our efforts to raise productivity and to moderate our dependency on foreign workers."
He was speaking on the sidelines of the graduation ceremony for the pioneering batch of students who had undergone the Heartland Retail Workforce Upskilling Programme in Chua Chu Kang.
Aimed at encouraging small and medium-sized enterprises to beef up their retail and service skills, the programme has grown to involve about 100 shops from six shopping centres, and about 280 people, since it began last September.
Mr Gan noted that the foreign- worker influx continues to be a matter close to the hearts of many Singaporeans, even as the number of jobs rise.
He said this is why the Government is not only urging employers to re-look their business process to raise productivity, but also to take more steps to encourage women to re-join the workforce and for older employees to work past the retirement age.
MOM's data yesterday was particularly encouraging as it showed that the unemployment rate among Singapore residents dropped significantly from 4.3 per cent in 2009 to 3.1 per cent last year. Nearly half of the new jobs - 54,200 - created last year went to locals, surpassing the 41,800 the year before.
Excluding foreign domestic workers, foreign employment rose by 53,000 over the year to stand at 31.4 per cent of the workforce in December last year, a notch up from the 30.7 per cent a year ago.
"The growth in foreign worker hires, excluding domestic workers, is lower than the 80,000 we had projected," said Mr Gan. The services sector led in the hiring last year, adding 109,500 workers, as opposed to the 55,600 increase in 2009. Jobs in the manufacturing sector, meanwhile, declined by 2,700. However, this was much lower than the 43,700 loss the year before.
According to the latest Business Expectations Survey, also released by the Government yesterday, the services sector continues to be strongly optimistic about growth in the next six months.
The amusement and recreation industry was found to be the most optimistic.
Resorts World Sentosa, for instance, said it held a very positive business outlook this year.
"We've surpassed our target of attracting 15 million visitors in our first year of operations and, as more of our attractions are slated to open within the next two years, we're looking to recruit another 2,000 to 3,000 more staff, in addition to our 12,000 employees," said Mr Robin Goh, the resort's assistant director of communications.
- My Paper
Jan 31, 2011
Singapore preliminary Q4 jobless rate at 2.2%
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
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 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
Dec 24, 2010
Job vacancies hit a high
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
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
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 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
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
Sep 14, 2010
24,900 new jobs in Q2
OVERALL employment in Singapore rose for the fourth straight quarter from April to June while redundancies remained at a pre-recessionary low level, helping to stabilise the jobless rate at 2.2 per cent.
Some 24,900 jobs were added in the second quarter, bringing the total gains in the first half year to 61,400, against a loss of 13,800 jobs a year ago.
With the growing manpower demand, job openings have outnumbered job seekers for the first time in this economic recovery, said the Ministry of Manpower in its Q2 labour market report on Wednesday.
The services sector added 25,400 workers in the second quarter, fewer than the 33,400 jobs added in the earlier quarter. Construction took in 2,000 more workers, compared to a drop of 400 in the first quarter. However, manufacturing jobs fell by 2,300, after rising by 3,100 in the first quarter.
'Unemployment has stabilised, after declining sharply at the end of 2009,' said MOM, noting that the seasonally adjusted unemployment rates were unchanged over the quarter at 2.2 per cent (overall) and 3.2 per cent for residents in June, reflecting significant improvements from the 3.2 per cent and 4.5 per cent respectively from a year ago.
There were 84,400 jobless residents in June. Seasonally adjusted, the number was 65,500, comparable to 66,200 in March, but is down 27 per cent from 90,300 a year ago.
MOM added that long-term unemployment also improved significantly. The number of residents who had been looking for work for at least 25 weeks fell substantially from 25,800 or 1.3 per cent of the resident labour force in June last year to 16,500 or 0.8 this June. Their share among the pool of job seekers also improved from 22 per cent to 20 per cent over the year.
Redundancies remained at around pre-recessionary quarterly levels, with 2,280 workers made redundant in the second quarter. This is slightly lower than the 2,400 in the earlier quarter. Redundancies in manufacturing rose over the quarter from 1,120 to 1,220, while that in construction and services fell from 340 to 150 and 940 to 920 respectively.
- The Straits Times
Some 24,900 jobs were added in the second quarter, bringing the total gains in the first half year to 61,400, against a loss of 13,800 jobs a year ago.
With the growing manpower demand, job openings have outnumbered job seekers for the first time in this economic recovery, said the Ministry of Manpower in its Q2 labour market report on Wednesday.
The services sector added 25,400 workers in the second quarter, fewer than the 33,400 jobs added in the earlier quarter. Construction took in 2,000 more workers, compared to a drop of 400 in the first quarter. However, manufacturing jobs fell by 2,300, after rising by 3,100 in the first quarter.
'Unemployment has stabilised, after declining sharply at the end of 2009,' said MOM, noting that the seasonally adjusted unemployment rates were unchanged over the quarter at 2.2 per cent (overall) and 3.2 per cent for residents in June, reflecting significant improvements from the 3.2 per cent and 4.5 per cent respectively from a year ago.
There were 84,400 jobless residents in June. Seasonally adjusted, the number was 65,500, comparable to 66,200 in March, but is down 27 per cent from 90,300 a year ago.
MOM added that long-term unemployment also improved significantly. The number of residents who had been looking for work for at least 25 weeks fell substantially from 25,800 or 1.3 per cent of the resident labour force in June last year to 16,500 or 0.8 this June. Their share among the pool of job seekers also improved from 22 per cent to 20 per cent over the year.
Redundancies remained at around pre-recessionary quarterly levels, with 2,280 workers made redundant in the second quarter. This is slightly lower than the 2,400 in the earlier quarter. Redundancies in manufacturing rose over the quarter from 1,120 to 1,220, while that in construction and services fell from 340 to 150 and 940 to 920 respectively.
- The Straits Times
Jul 30, 2010
26,500 new jobs in Q2
THE Singapore economy added 26,500 jobs in the second quarter, bringing total employment to 3,053,000, a Manpower Ministry report said on Friday.
That was fewer than the 36,500 jobs gained in the first quarter of 2010.
Services contributed to the bulk of the increase in employment, while manufacturing employment fell by 2,400 after increasing by 3,100 in 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 second quarter at 1,900, lower than 2,400 in the previous quarter.
Unemployment has stabilised after falling sharply at the end of last year. The seasonally adjusted overall unemployment rate stood at 2.3 per cent, an improvement from 3.2 per cent a year ago.
The resident unemployment rate was 3.3 per cent, compared to 4.5 per cent a year ago.
- The Straits Times
That was fewer than the 36,500 jobs gained in the first quarter of 2010.
Services contributed to the bulk of the increase in employment, while manufacturing employment fell by 2,400 after increasing by 3,100 in 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 second quarter at 1,900, lower than 2,400 in the previous quarter.
Unemployment has stabilised after falling sharply at the end of last year. The seasonally adjusted overall unemployment rate stood at 2.3 per cent, an improvement from 3.2 per cent a year ago.
The resident unemployment rate was 3.3 per cent, compared to 4.5 per cent a year ago.
- The Straits Times
Jul 27, 2010
Bumper jobs for NTU's graduating class
A SURVEY by the Nanyang Technological University has found that 71.7 per cent of its graduating class of 2010 had secured jobs prior to their convocation, up from 67.1 per cent for the Class of 2009 during the same period last year.
NTU president Su Guaning, speaking yesterday morning at the university's Convocation Ceremony 1, added that the strong showing by this year's graduating students sets the stage for them to better the already-impressive 97.3 per cent of the Class of 2009 who received one or more job offers within four months of graduation last year.
- mypaper
NTU president Su Guaning, speaking yesterday morning at the university's Convocation Ceremony 1, added that the strong showing by this year's graduating students sets the stage for them to better the already-impressive 97.3 per cent of the Class of 2009 who received one or more job offers within four months of graduation last year.
- mypaper
Jul 22, 2010
Singaporeans optimistic over job prospects over the next 12 months
Singaporeans are no longer worried about getting a job.
In fact, they are the second-most optimistic lot in the Asia-Pacific region when it comes to job prospects over the next 12 months, according to market research firm Nielsen.
Eighty-three per cent of Singaporeans polled by Nielsen for its latest Global Consumer Confidence Index survey feel positive about their employment prospects.
As such, consumers here say this is the right time to start spending on holidays, clothes as well as investing in stocks and unit trusts.
Still, 70 per cent say they will put aside spare cash after they have covered essential living expenses.
When it came to concerns, work-life balance and the economy came out tops.
Managing director of Nielsen Singapore Joan Koh said the continued concern over the economy could be due to the fact that it has just begun to stabilise.
- TODAY newspaper
In fact, they are the second-most optimistic lot in the Asia-Pacific region when it comes to job prospects over the next 12 months, according to market research firm Nielsen.
Eighty-three per cent of Singaporeans polled by Nielsen for its latest Global Consumer Confidence Index survey feel positive about their employment prospects.
As such, consumers here say this is the right time to start spending on holidays, clothes as well as investing in stocks and unit trusts.
Still, 70 per cent say they will put aside spare cash after they have covered essential living expenses.
When it came to concerns, work-life balance and the economy came out tops.
Managing director of Nielsen Singapore Joan Koh said the continued concern over the economy could be due to the fact that it has just begun to stabilise.
- TODAY newspaper
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