Retrenchment hits 7-year high
I refer to the article “Number of retrenched workers hit 7 year high” (The Singapore Daily, Dec 13).
It states that ‘According to figures released by the MOM today (13 Dec), the number of retrenched workers hit a 7-year high in 2016. This figure is the highest since the 2009 Global Financial Crisis.
In the first 9 months of this year, there were 13,730 workers who were laid off. This marks a 35% increase over the 10,220 number during the same period last year.”
LTU Share at 10-year high
According to the Ministry of Manpower’s (MOM) Labour Market Third Quarter report released on 13 December – the Long Term Unemployed (LTU) Share – which represents the long-term unemployed as a proportion of the unemployed, at 30.3 per cent is at a 10- year high.
I believe it may even be the historical high.
No breakdown into S’poreans & PRs?
What is the breakdown of the long-term unemployed into Singaporeans and permanent residents (PRs)?
Degree holders & 50 and over worse hit
Degree holders formed the highest proportion by education, and those age 50 and over formed the highest by age – of the long-term unemployed.
14,500 employment growth – no breakdown?
Of the 14,500 employment growth in the first nine months of 2016 – how many were foreigners, PRs and Singaporeans?
In this connection, for the last 18 months to June 2016 – employment growth was 49,000 foreigners against only 500 locals.
Degree holders & 50 and over worse hit for re-entry rate
Degree holders also formed the lowest proportion by education, and those age 50 and over formed the lowest by age – for the rate of re-entry into employment.
Ratio of job vacancies to unemployed at 10-year low
The ratio of job vacancies to unemployed (seasonally adjusted) is also at a 10-year high.
No non-seasonally adjusted unemployment data?
I don’t seem to be able to find the non-seasonally adjusted unemployment rate and number of unemployed Singaporeans in the subject report – but it was 4.1 per cent and 92,300 as of June 2016.
2,700 contractions in 3rd quarter
With the 2,700 contractions in employment change in the third quarter – I believe these may now be even higher.
Leong Sze Hian