I refer to the articles “Job growth remains high despite more layoffs” (Straits Times, Dec 14) and “Job growth high despite more layoffs in Q3: MOM” (Channel NewsAsia, Dec 14).
After reading the above two reports, you may not realise the negative aspects of the labour market report, particularly for older and higher educated Singaporeans.
So, here goes …
Older workers more likely to be unemployed?
Accroding to the Ministry of Manpower’s (MOM) Labour Market Third Quarter report,
workers age 40 and over formed the largest group, at 22,500 or 44% of all the unemployed, amongst the unemployed.
Degree holders more likely to be unemployed?
Degree holders formed the largest group by education, at 14,200 or 28% of all the unemployed, amongst the unemployed.
Older workers more likely to be long-term unemployed?
Workers age 40 and over formed the largest group, at 5,700, amongst the long-term unemployed.
Degree holders more likely to be long-term unemployed?
Degree holders formed the largest group by education, at 2,600, amongst the long-term unemployed.
Older workers more likely to be laid off?
“About six in ten (59%) residents laid off in the third quarter of 2012 were aged 40 & over and
slightly over three in ten were in their 30s (32%).”
Higher educated (PMETs) more likely to be laid off?
“The majority or 67% of residents made redundant were previously holding PMET jobs, higher
than the PMETs’ representation in the workforce (52%).”
Degree holders most likely to be laid off?
Degree holders formed the largest group amongst those laid off, at 41%, much higher than their 31.8% representation in the resident force.
Short work-week or temporary layoffs increase?
The number of workers on short work-week or temporary layoff increased to 3,610 in
the third quarter, from 3,570 in the second quarter. It was much lower at 2,580 in the first quarter of
2012.
Harder to get re-employed?
“The re-entry rate into employment fell, after rising in the preceding quarter. Based on CPF
records, slightly more than one in two (52%) residents laid off in the second quarter of 2012
secured employment by September 2012. This rate of re-entry into employment within six
months of redundancy fell from 60% experienced by the previous cohort (laid off in the first
quarter) in June 2012.”
Total employment growth falling?
“Total employment grew by 26,200 in the third quarter of 2012, moderating from the
growth of 31,900 in the same period last year and 31,700 in the second quarter of
2012.”
Overall unemployment rate (including foreigners) fell, but resident unemployment rate unchanged?
“The seasonally adjusted overall unemployment rate dipped marginally to 1.9% in September 2012 from 2.0% a quarter ago, while the unemployment rates for residents and Singapore citizens (SCs) were unchanged at 2.8% and 3.0% respectively. An estimated 51,600 residents including 46,100 SCs were unemployed in September 2012. The seasonally adjusted figures were 59,600 for residents and 53,000 for SCs, largely unchanged from the 60,200 and 53,600 respectively in June 2012.”
Leong Sze Hian
