Releasing its report on Labour Market Developments for 2016 and the outlook for this year, the Ministry of Manpower (MOM) said that hiring is expected to remain cautious in the manufacturing sector, as the marine and offshore engineering segment is likely to continue to face headwinds.
However, domestically-oriented services sectors such as community, social and personal services should continue to support employment growth.
Over the next three to five years, total workforce growth numbers (excluding foreign domestic workers) is expected to be in the range of 25,000 to 40,000.
Labour Market in 2016
For 2016, the annual average resident unemployment rate rose slightly to 3 per cent from 2.8 per cent in 2015. This is the highest since 2010.
The increase was broad-based across most age and education groups, with larger increases among those aged 30 to 39 and 50 and above.
Those with secondary and degree qualifications were also not spared .
Meanwhile, local employment grew by 11,200 in 2016, rebounding from flat growth of 700 in 2015.
Redundancies rose to 19,170 last year, due mainly to business restructuring and reorganisation.
Labour Movement’s Concerns
Responding to the report on his Facebook page, NTUC Assistant Secretary-General (ASG) and Director of the Future Jobs, Skills and Training Department (FJST) Patrick Tay expressed concern that more mature professionals, managers and executives (PMEs) were being affected by the softening of the labour market.
Mr Tay was heartened by the announcements in Parliament last week by the Manpower Ministry during the Committee of Supply to help job seekers.
“I hope the new Attach-and-Train initiative will also help jobseekers reskill for jobs in growth sectors in spite of weaker hiring due to economic uncertainty,” said Mr Tay.
ASG Tay added that the Labour Movement has also just launched the PIVOT Programme to help affected or vulnerable PMEs in terms of peer support.
