MOM Reports Employment Situation In Singapore For Year 2012
The Ministry of Manpower of Singapore (MOM) reported significant findings in the employment situation for the year 2012. The report revealed that the growth of foreign workforce slowed down amidst a more strict check on the inflow of foreign workers in the country.
On the other hand, MOM saw the sharp rise of local employment growth in the island state. The local employment growth rose by 59,200, which is significantly higher than last 2011’s statistics at 37,900.
Meanwhile, foreign employment slowed down to 70,400 for 2012 compared with 84,800 in 2011.
The report showed that for December 2012, 66.4 percent of the workforce in Singapore was the locals. Foreign workers made up the remaining 33.6 percent. Compared with 2011, foreign workers made up only 32.8 percent of the country’s workforce.
MOM said with the high employment creation and despite a rise in lay-offs, unemployment remained low in Singapore.
The fourth quarter of 2012 saw a higher employment growth of 44,500. This rise in employment was boosted by hiring during the festive season. This was higher compared with the employment situation in 2011 on the same period with only 37,600.
For the whole year of 2012, total employment increased by 129,600, which is slightly higher the 122,600 in 2011. This was boosted by the growth in construction of 39,100 last year, compared with 22,000 in 2011.
Services continued to contribute to the total employment gains in 2012 at 77,900. Manufacturing added 11,100 workers in 2012.
However, layoffs rose for 2012. A total of 11,000 workers were laid off from work in 2012. This is higher than the 9,990 in 2011. This reflected the impact of economic slowdown and restructuring.
For the whole of 2012, the annual average unemployment rate remained low at 2 percent overall.
Amid the tight labour, the nominal income from work of Singaporeans continued to rise, though at a slower pace in 2012, reflecting the weaker economic conditions.