Employment Strengthens, Layoffs Decline in Singapore For Second Quarter
More jobs have been created as layoffs continue to decline in Singapore during the first quarter of the year. This was revealed by Ministry of Manpower (MOM) in its “Employment Situation, Second Quarter 2012” report.
Total employment is estimated to have grown by 29,000 in the second quarter of 2012, up from the increase of 24,800 in the same period last year and 27,200 in the first quarter of 2012.
Construction and manufacturing registered strong employment increases. Construction recorded an increase of 9,500, while manufacturing grew by 4,500.
On the other hand, the growth in services employment eased to 15,500, though it still formed the majority of the employment rate in the second quarter of 2012.
Layoffs declined for the second successive quarter, after increasing in the fourth quarter of 2011. An estimated 2,300 workers were made redundant in the second quarter of 2012, compared to 2,600 workers who were affected in the preceding quarter.
About 1,500 workers laid off during the quarter were from services. Manufacturing industry laid off 600 workers while construction displaced 200 employees.
Amid the stronger employment creation, unemployment declined in June 2012, after the slight rise a quarter ago. The seasonally adjusted overall unemployment rate dipped over the quarter by 0.1 percentage point to 2.0 percent in June. The rate for residents declined by 0.2 percentage point to 2.8 percent, while that for citizens fell by 0.3 percentage point to 2.9 percent.
On previous reports by MOM, the first quarter of 2012 showed signs of softening in the labour market showed signs of softening though it was still relatively strong. Employment creation eased and unemployment rose slightly in the first quarter of 2012. Job vacancies also declined, suggesting that manpower shortages have eased. These are the key findings from the Labour Market, First Quarter 2012 report released by MOM, Statistics Department.
There are a wide variety of jobs available in Singapore, ranging from the manufacturing industry to the service industry. A large percentage of jobs in the country are in the service industry.