Employment: S’poreans down, but foreigners up?

September 17, 2015

FT growth lowest since 2009

I refer to the article “MOM: FT employment growth lowest since 2009” (TR Emeritus, Sep 16).

Local employment declined by 8,900

It states that “Local employment declined by 8,900 in 1H 2015.

Foreign employment grew by 8,000 (excluding FDW)

“Foreign employment continued on its downward growth trajectory and moderated to 8,000 (excluding FDW) in 1H 2015, registering the lowest half-yearly growth since 2009″”.

Total foreign employment grew by 12,500?

Since “Total employment grew by 9,700 in the second quarter of 2015, after contracting in the preceding quarter (-6,100)” – does it mean that the net increase  in total employment was 3,600 in 1H 2015?

So, why is local employment change decreasing by 8,000 against an overall increase in foreign employment of 12,500 (- 8,900 locals + 3,600 total employment increase)?

Local employment declining in economic slowdown?

In the past, I understand that in times of economic slowdown – foreign employment would decrease against an increase in local employment.

Why is it that apparently this trend seems be changing from the past?

if this the case – then something may be very wrong with our labour polices when foreign employment grows much more in times of good economic growth, and also grows with negative local employment growth in an economic slowdown.

No Singaporeans’ statistics?

Since the unemployment statistics are broken down into Singaporeans and PRs – why can’t the employment statistics have a breakdown too?

Were most of the jobs lost by Singaporeans, rather than PRs?

Painting a “rosy” picture?

As to “the unemployment rate remained low and stable amid the tight labour market.“The seasonally-adjusted citizen unemployment rate was 2.9% in June 2015. The resident long-term unemployment rate also remained low at 0.7% in June 2015,” – the fact is that the citizens’ unemployment rate increased from 2.6 to 2.9 per cent from March to June.

Also, why can’t the long-term unemployed statistics be broken down into Singaporeans and PRs also?

Arguably, the subject employment review report may have been worded to gloss over the significant deterioration of the labour statistics for Singaporeans.

Leong Sze Hian

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About the Author

Leong
Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.