Baktee
The total employment growth in Singapore has more than doubled in the third quarter of this year as compared to the previous quarter. The third quarter of 2018 saw total employment growth of 15,200 while the number for the second quarter was 6,500.
The Ministry of Manpower (MOM) revealed these figures in its latest Labour Market Report Advance Release Third Quarter 2018 on 26 October 2018.
The higher employment growth in the third quarter was seen in sectors such as manufacturing and services. Meanwhile, employment in construction continued to decline.
The number of retrenchments in the third quarter was lower than the second quarter, with figures standing at 3,030 and 3,400 respectively.
MOM also noted that the number of retrenchments in the first three quarters of 2018 was lower than the same period in the last two years.
The unemployment rate among residents and citizens remained unchanged at 2.9 per cent and 3 per cent from June 2018 to September 2018. However, the overall unemployment rate rose slightly from 2 per cent to 2.1 per cent.
“Overall preliminary data suggest that the labour market continued to improve in the third quarter 2018 … Given the ongoing economic restructuring and the changing demand for jobs and skills, it is important that workers and businesses stay agile and responsive to market demand,” said MOM.
Commenting on the report, NTUC Assistant Secretary-General Patrick Tay urged workers and businesses to cultivate a mindset of ability, agility and adaptability to effectively respond to economic transformation and an evolving workforce landscape.
“As employers pick up hiring, the labour market will become tighter, and at some point, employers will eventually face greater pressures and challenges in filling vacancies,” he said.
Mr Tay added that the Labour Movement is focused on supporting the transformation of Singapore's workers into Worker 4.0.
“With the formation of our Training Council as well as a collective and concerted drive towards training and pre-emptive training, NTUC will continue to harness its network of unions, tripartite and training partners to pull and pool resources to identify training needs and bring Worker 4.0 to fruition. Businesses too are encouraged to transform and improve job quality, with various support programmes offered by our tripartite partners,” said Mr Tay.
