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Recruitment
- News
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 Employment
News
2008
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Singapore
Workforce 2008 |
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There were 1,928,300 residents in the
labour force in June 2008, comprising 1,093,200 males and 835,100
females. The resident labour force grew by 2.7%[1] from 2007 to 2008
(June periods), up from 2.0% in the preceding year. This was driven
by both growth in the resident population and female labour force
participation rate. |
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Despite the more challenging economic
outlook, the employment rate for the resident population aged 25 to
64 rose to a new high of 77.0% in 2008 from 76.5% in 2007. The
improvement mainly resulted from more females who were previously
outside the labour force becoming employed... |
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More..... |
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Singapore’s economy is strong |
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This downturn is just beginning. No one can
say how long it will last and how deep the downturn will be. Recovery
will come when the property market in America reaches bottom and begins
to rise. That may not be for many months or even years. |
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Fortunately, in Singapore, having
learned from the 1997/98 financial crisis, we have not allowed a
speculative rise in residential property prices. Few citizens have
bought homes that they cannot afford to service their instalments on
their mortgages. High price condominiums and office properties have
declined in prices... |
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More..... |
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Employment Situation in Third Quarter 2008 |
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Preliminary estimates show that employment
grew by 57,800 in the third quarter this year. This was lower than the
gains of 71,400 in the preceding quarter and 58,600 in the third quarter
of 2007... |
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Preliminary estimates show that 2,000
workers were retrenched in the third quarter of 2008, up from 1,798
in the previous quarter and 1,827 in the third quarter of 2007... |
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More..... |
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2007
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New pay and career package for teachers |
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MOE will be introducing a new Education
Scheme of Service (2008) from 1 April 2008 to better recognise and
reward good teachers. The new scheme will be more market responsive and
there will be a stronger link between pay and performance. |
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Officers will be placed on a salary range
system with merit increments that are based on one’s performance,
potential and market wage movements. This will replace the current
salary scale system with fixed annual increments. With the revision to
the salary ranges, a one-off salary increment of up to 4% will be made
to the salaries of eligible officers on the new scheme... |
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More..... |
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Singapore Labour Market 3rd quarter 2007 |
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Total employment expanded by 58,600 in Q3
07, up substantially from the increase of 43,000 in Q3 06, making it the
second highest quarterly increase after the 64,400 recorded in Q2 07... |
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1,827 workers were retrenched in Q3 07, an
improvement from 2,472 in Q3 06 and 1,918 in Q2 07[2]. This brings the
total number retrenched in the first nine months of 2007 to 5,709, much
lower than 9,388 in the same period last year... |
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More..... |
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New foreign workforce measures to meet strong market
demand |
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With effect from 1 January 2008, the S Pass
quota for all sectors will be increased from 15% to 25%. The new S Pass
quota will come entirely from companies' Work Permit quota which will be
increased for all sectors. Companies can therefore employ more S Pass
holders, in lieu of Work Permit holders, hence improving the quality of
their foreign workforce... |
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To strengthen our
global talent attraction and retention efforts, refinements will be made
to the PEP scheme. Foreign professionals whose last drawn fixed monthly
salary overseas was at least S$7,000 will be eligible for a PEP. The PEP
will also be granted to former P1 Employment Pass holders upon
application. |
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These changes
will take effect from 1 March 2008. Existing and new P1 pass holders
working in Singapore that apply for the PEP ahead of the 2-year
requirement will be accorded in-principle approval. They can apply to
take up the PEP at the end of 2 years on their current P1 pass... |
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More..... |
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Singapore
Workforce 2007 |
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The continued tightening of the labour
market this year has also led to significant gains in income and a
reduction in the number and share of low wage workers... |
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Excluding the
extreme age bands, the employment rate for those aged 25 to 64 edged up
to a new record of 76.5% from 75.5% a year ago. Supported by efforts to
improve employability of older workers, the employment rate of older
residents aged 55 to 64 rose by 2.5%-points over the year to 56.2% in
June 2007.. |
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More..... |
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Employment situation in 3rd Quarter 2007 |
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Employment continued to grow strongly as the
economy maintained its rapid expansion. Preliminary estimates show that
employment grew by 57,600 in the third quarter of 2007... |
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Services continued to lead the employment
gains, adding 34,500 workers in the third quarter of 2007. Manufacturing
posted gains of 11,800. Driven by the growth in building activities,
construction increased its workforce by 10,800, continuing the rapid
increase of the previous quarter... |
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More..... |
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Singapore outlook for 2007 and 2008 |
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Nonetheless, financial markets have
rebounded recently and underlying economic conditions remain
supportive. GDP growth is therefore on track to come in at the
upper end of the 7-8% forecast range this year, up from the
4.5-6.5% forecast during the April review... |
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In the Singapore economy, growth will
be led by non-IT manufacturing, construction and business
services, which have built up a strong momentum and are more
dependent on regional and domestic sources of demand as well as
developments in specific product markets. |
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At this stage, our assessment is that
the Singapore economy is likely to expand at a slower rate in 2008
than in the recent past, reflecting weaker global economic growth.
Singapore’s GDP growth rate is expected to come in within its
potential of 4-6% next year... |
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More..... |
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MOM revokes licences of three employment agencies |
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The Ministry of Manpower (MOM) has revoked
the licences and forfeited the security deposits of three employment
agencies (EA) - Ms Bushra Employment Agency, CM Manpower Centre Pte Ltd
and Angel Maids Agency. |
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These EAs have breached the Employment
Agencies Act by illegally deploying foreign domestic workers (FDWs)
to perform work at households when they have not obtained valid
work passes1... |
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More..... |
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Medisave lucky draws for self-employed and informal
workers |
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The Government is introducing the Medisave
Contribution Draw (MCD) to encourage low-income self-employed persons (SEPs)
and informal workers to contribute to their Medisave accounts... |
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The MCD will consist of four quarterly draws
for each year of work done... |
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The MCD will run for three years and will be
reviewed thereafter... |
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More..... |
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Singapore Labour Market 2nd quarter 2007 |
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Total employment grew by an all-time
quarterly high of 64,400 in Q2 07, surpassing the increase of 49,400 in
Q1 07 and 36,400 in Q2 06. This brought employment growth in the first
half of 2007 to 113,800, compared with 81,500 in the same period last
year. |
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With the robust employment gains, the
seasonally adjusted overall unemployment rate declined significantly to
2.3% in Jun 07 from 2.9% in Mar 07. The resident1
unemployment rate also fell to 3.1% from 4.0% over the same period. An
estimated 76,100 (or 60,200 after seasonal adjustment) residents were
unemployed in Jun 07... |
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More..... |
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Employer-financed insurance for medical expenses of
foreign workers |
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The Ministry of Manpower will require
employers to purchase and maintain insurance for the medical expenses of
foreign workers from 1 January 2008. |
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This requirement is being implemented in
tandem with the withdrawal of healthcare subsidies for foreigners1,
which was previously announced by the Ministry of Health. The
requirement will apply to: |
- All new and existing foreign workers
on Work Permit or S Pass from 1 January 2008.
- All new foreign domestic workers, and
existing foreign domestic workers when employers renew their Work
Permits, from 1 January 2008.
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More..... |
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The Private Security Industry Bill 2007 passed |
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"Should a private investigator or security
officer be charged with or convicted of a prescribed offence which makes
his continued employment as a private investigator or security officer
undesirable, his licence can be suspended with immediate effect. This
power is provided in Clause 24(5) of the Bill. |
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"With the introduction of the licensing
schemes for security officers and private investigators, more than 500
private investigators and 30,000 security officers will need to apply
for a licence..." |
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More..... |
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Significant changes to the CPF system |
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"By 2012, we will require employers to offer re-employment to workers
reaching 62, up to age 65, and eventually to 67. This change will
precede the raising of the Draw Down Age (DDA). By 2012, employers
will be required to offer re-employment up to age 65 but the DDA to
65 will only be effected in 2018 – a significant time lag to help
workers and employers adjust... |
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"1% additional bonus interest will be
paid on the first $60,000 in a CPF member's combined accounts, with not more than
$20,000 from the OA accounts. This will enhance CPF's existing
risk-free framework... |
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"While our employment rates are among the highest in the world, our
residents are also among the longest living. The present DDA of 62
years is hence too early and results in the majority of members
prematurely depleting their savings. Thus, we will do the following: a.
progressively raise draw down age.. |
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"Even after changes to DDA, there will be those who live longer than
85. We want to ensure that they have a stream of income for life. The Government will therefore be looking at making annuities
compulsory for members to protect them against outliving their
retirement savings... |
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More..... |
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Employment situation in 2nd Quarter 2007 |
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"Preliminary estimates show that total employment grew
by a record quarterly high of 61,900 in the second
quarter of 2007, as the economy continued its strong
growth... |
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"Employment grew in all
the major sectors, led by services which added 33,600
workers. Manufacturing posted gains of 16,600, higher
than earlier quarters..." |
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More.... |
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Higher starting pay for those joining Mindef and SAF
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Phasing out of temporary registered doctors for
service provision |
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"Only temporary medical registration for service provision is being
phased out by 31 Dec 2007. |
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"Existing temporary registered doctors brought in as service providers
before 1 Jan 2008 can still continue to work here until they either
become conditionally registered (acquired recognized postgraduate
qualifications) or they have completed their 4-6 years of service in
Singapore..." |
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More..... |
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Survey on conditions of employment for older workers in 2006 |
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"As at June 2006, nearly all private sector
establishments surveyed (97%) hired Singapore citizens aged 40 to 49.
However, the proportion employing workers in their 50s declined to 89%
and more sharply to 54% for those older. |
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"Seven in ten employers cited relevant skills
and work experience as the most common reason workers in their 40s and
50s fit into organisations. Although this was also important for older
workers aged 60 & over (52%), the top reason cited for employing them
was their lower likelihood to job-hop (61%)..." |
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More..... |
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- Govt
accepts NWC recommendations for 2007/2008
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The future is looking bright for the infocomm industry |
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"In a recent survey conducted by IDA, the
number of infocomm job vacancies has more than doubled, from 2,100 in
2004 to 5,700 in 2005.. |
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"Overall, the infocomm industry has put
in a sterling performance. Its revenue grew from $38 billion in
2005 to cross the $40 billion mark for the first time in 2006..." |
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More..... |
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Employment situation in 1st quarter 2007 |
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"Preliminary estimates show that total
employment grew by 48,000 in the first quarter 2007. This is higher than
the gains of 45,000 in the same period a year ago, but seasonally lower
than 51,500 in the fourth quarter of 2006. |
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"All major sectors added workers, led by
services with gains of 33,400 workers. Manufacturing posted increases in
employment of 9,500..." |
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More..... |
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Schools may hire full-time Infocomm Technology
executives |
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"From July 2007, schools
will have the option to engage full-time Infocomm
Technology (ICT) Executives. |
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"The ICT Executives will
provide schools with professional ICT support and
additional technical expertise to handle the
increasingly sophisticated ICT implementation in
schools..." |
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More..... |
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Retrenchment and Re-employment in 2006 |
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"Specifically, the re-employment rate of residents
retrenched from PMET jobs rose from an average of 65%
in 2005 to a post-Asian crisis high of 73% in 2006. |
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"This exceeds the rate
for the other two occupational groups, unlike in past years when
clerical, sales & service workers were the most re-employable... |
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"In 2006,
private sector establishments each with at least 25
employees retrenched 12,359 workers..." |
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More..... |
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Impact of the two Integrated Resorts in 2010 |
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"Together with the two IRs, these will help
us achieve our target to attract 17 million visitors and generate S$30
billion in tourism receipts by the year 2015... |
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"In terms of manpower, the two IRs
combined are expected to create some 50,000 to 60,000 additional
jobs throughout the economy when both are fully operational..." |
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More..... |
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Pay rise for ministers and civil servants |
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"The resignation rate of the Management
Executive Scheme (which employs graduate officers across the
ministries) was 10.6%, up from 7.4% in 2005. At some of our entry
grades, the situation is quite serious, with resignation rates as
high as 25%. |
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"Members of the House would also have
read from the newspapers[4] that for our Home Team, there has been
a 40% increase in the resignation of junior officers in January
and February this year, compared to the same period last year. |
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"We need to act before the situation
becomes more serious. The Government, as an employer, has to
respond quickly and decisively to stay competitive and close the
wage gaps. Otherwise, we will deplete the Service of the able
people we need, and the service level to the public will be
affected..." |
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More..... |
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Paying our public servants competitive salaries |
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"We know from head-hunters
that the entire top managements of some of our
agencies are being targeted. The Middle Eastern
countries are particularly interested. They have
studied Singapore’s success story. They want to tap
our people to join them and replicate the miracle, and
money is no object... |
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"This is an urgent
problem. We have experienced on previous occasions the
painful consequences of responding too slowly when the
private sector surged ahead. |
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"For example in the early
1990s, the Administrative Service lost entire cohorts
of good officers. This showed up in the age profile of
the Service – broad at the young and older age groups,
but narrow at the mid- to late-30s range. We took many
years to recover from the loss. This must not happen
again..." |
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More..... |
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Singapore Labour
Market 2006 |
| "Total
employment creation for the whole of 2006 rose to an
all-time high of 176,000, surpassing the previous
year’s gains of 113,300. This brought the total number
employed to 2,495,900 persons as at December 06... |
| "On
average, 67,500 residents were unemployed in 2006,
down from 74,900 in 2005 and the high of 91,200 in
2003..." |
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More..... |
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Singapore may enter upper half of First World nations
within 20 years |
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"With more jobs for Singaporeans, employers
must make a special effort to employ our older workers, giving them
lighter work with corresponding salary adjustments. |
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"Workers who are retrenched and, so long as
they remain fit and healthy with retraining or re-configuration of jobs,
can be re-employed and working beyond 62..." |
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More..... |
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A Statistical Profile of Older Workers |
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"Older persons aged 50 &
over made up close to one-quarter (24%) of the
resident workforce in 2006. |
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"Reflecting their
relatively less educated profile, the majority (68%)
of older workers were employed in lower-skilled jobs
such as cleaners, labourers & related workers (18%),
plant & machine operators & assemblers (16%) and
service & sales workers (15%). |
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"These occupations also
registered an above-average incidence of older workers
especially for cleaners, labourers & related workers
where more than half (53%) were aged 50 & over...." |
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More..... |
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Check your eligibility for Singapore PR or citizenship
online |
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"The Naturalisation Eligibility Tool
is a free online self-assessment system, to assist foreigners
working and staying in Singapore to assess if they are eligible
for either Singapore Permanent Residence (SPR) or Singapore
Citizenship (SC)... |
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"Overseas foreigners are also able to
use the system although theirs will only be a hypothetical
assessment. These overseas foreigners are given the option to
provide their contact particulars to enable ICA to contact them if
necessary..." |
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More..... |
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Budget
Statement 2007 |
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"I will give lower-income Singaporeans
larger GST Credits. |
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"Those who live in one- to three-room
flats[4] and have annual assessable incomes of $24,000
or less will qualify for the largest quantum of $1,000, to be paid
out in instalments of $250 per year over four years... |
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"Next, if you live in a larger home
with an AV of more than $10,000, but you earn less than $100,000 a
year, you will get $400 in GST Credits. |
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"The top income group comprising those
earning over $100,000 a year will get $100. It is a small gesture,
but recognises that the GST increase affects everyone. |
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"NSmen and NSFs, including those aged
below 21, will also get an additional $100 of GST Credits, to
recognise their contributions to national security... |
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"The first instalment will be paid out
on 1 July this year, at the same time as the GST increase..." |
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More..... |
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Key Household
Income Trends 2006 |
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"Among employed households (i.e.
households with at least one working person), average monthly
household income from work1 grew by 4.3 per cent in
2006 to reach $6,260. |
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"After adjusting for inflation,
employed households enjoyed real income growth of 3.2 per cent in
2006..." |
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More..... |
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Income Tax (Amendment) Bill passed |
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"Currently, the penalty for not filing an income tax
return is significantly less severe than the penalty
for under-declaring income. This creates an incentive
for taxpayers to avoid taxation by not submitting
their income tax returns. |
| "To
discourage this practice, a penalty of double the
amount of tax undercharged will be introduced for the
failure to file a tax return in respect of any year of
assessment within 3 years from the filing deadline..." |
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More..... |
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Report on labour force in Singapore in 2006 |
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"76% of the
resident population aged 25 to 64 were employed, the highest since the
data was first compiled in 1991, up from 73% in 1996... |
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"12% or
172,000 of resident employees were engaged on term contracts in
June 2006 while the remaining 88% were permanent employees3. On
average, employees on term contract drew lower pay than those on
permanent appointments... |
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"The share
of degree holders almost doubled to 23% from 12% a decade ago..." |
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More..... |
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Employment situation in 4th quarter 2006 |
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"Preliminary estimates show that total
employment grew by 48,800 in the fourth quarter of 2006, considerably
higher than the gains of 35,300 in the same period a year ago, and up
from 43,000 in the third quarter of 2006... |
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"Total retrenchment for the whole of
2006 was 12,200. Although this is higher than 10,294 in 2005, it
is only about half the number retrenched in 2001 (25,838).
Manufacturing formed the bulk of retrenchments (8,800), followed
by services (3,000) and construction (400) in 2006..." |
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More..... |
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About 200,000 new Singapore PRs in the next 5 years |
| "From
2001-2004, an average of 35,250 new permanent
residents (PR) and 7,130 new Singapore citizens (SC)
were granted per annum. In 2005, about 52,300 new PRs
and 12,900 new SCs were granted. |
| "The
average numbers of new PRs and SCs are 38,700 and
8,300 respectively, for the period 2001-2005. |
| "We could
expect to add about 200,000 new PRs and 40,000 new SCs
in the next 5 years if we get the same numbers of new
PRs and SCs as in the last 5 years..." |
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More..... |
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Singapore economy expected to grow by 4-6% in 2007 |
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"In the last five years, our real
per-capita GDP grew on average by 4.3% per annum, but real average
wages (after adjusting for inflation) grew at only half this rate
– 2.1%. |
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"Higher-end wages have risen by more
than this. But at the lower-end wages have increased by much less,
and some have even stagnated. |
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"This is why we are implementing
Workfare as a fourth pillar of our social safety net, together
with the CPF, the 3Ms (Medisave, MediShield and Medifund) and HDB
home ownership..." |
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More..... |
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2006
Conditions of Employment
2006 |
| "The
5-day workweek is the norm, with higher share of
employees now on this arrangement than two years ago.
Close to two in five (40%) full-time employees in the
private sector worked 5 days a week in 2006, up from
34% two years ago. |
| "Lagging
significantly behind, were the 5½-day (15%), 6-day
workweek (16%), and shift work (17%) each accounting
for less than one in five employees in 2006..." |
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More..... |
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Labour Market 3rd Quarter 2006 Report |
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"Cumulatively in the first nine months
this year, the economy added 124,500 workers, surpassing the gains
of 113,300 for the whole of 2005. This employment creation is the
highest ever recorded1..." |
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More..... |
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Expansion of the hedge fund industry in Singapore |
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Mr Ong
Chong Tee, Deputy Managing Director, Monetary
Authority of Singapore |
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"In
Singapore, we have seen a steady increase in the
number of hedge fund managers - from a handful 5 years
ago to over a 100 now. |
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"It is not
only small boutique firms but many large well-known
hedge funds have also set up operations in Singapore,
drawn by a pro-innovation and competitive business
environment, high regulatory standards and trusted
legal regime, and the available talent pool..." |
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More..... |
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Employment situation in 3rd Quarter 2006
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Survey shows manpower issues a growing concern for
SMEs
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Singapore Labour Market Report for 2nd Quarter 2006
MOE unveils S$250m plan to boost teaching
profession |
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"...an Enhanced PDL will allow a teacher who
has had at least 12 years of experience to take up to 2˝
months (1 school term) of full-pay leave... |
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"MOE will introduce a new Learning &
Development Scheme. In the scheme, teachers will be entitled
to claim up to $400 or $700 per year, for any
learning-related expenses that they choose... |
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MOE is
increasing the starting salaries of Pass/ Pass (Merit)
Degree and Diploma recruits by 1 increment (which is
equivalent to an increase of 5-8%) with effect from 1 Sep
06. The current starting salaries of trainee teachers
holding other qualifications remain competitive..." |
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More..... |
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New personalised employment pass not tied to any
employer |
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The Ministry of Manpower will introduce a
Personalised Employment Pass (PEP) from 1 January 2007 to help us better
attract and retain global talent... |
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The PEP allows the holder to remain in
Singapore for up to six months in between jobs to evaluate new
employment opportunities. This helps us to retain selected global talent
who would otherwise have to leave Singapore... |
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The PEP will be issued only once with a
validity of 5 years. It will be nonrenewable. A PEP holder will retain
the dependant privileges of his original EP type and the minimum annual
basic salary requirement of S$30,000 will continue to apply throughout
the 5-year duration... |
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More..... |
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Number of recognised foreign medical schools
increased to 120
Foreign domestic maids get one-day off in new
standard contract |
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"This contract is designed to help
smoothen employer/employee relationships from the onset, by
minimising any ambiguities on the employment terms. |
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"For example, the contract will
include the stipulation of the minimum of one day-off
entitlement for the Foreign Domestic Workers (FDWs).
However, if the day-off is not taken, the employer will have to
compensate the FDW in cash..." |
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More..... |
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Singapore's GDP growth for 2006 likely to be 5% to 7% |
|
Mr Heng
Swee Keat, Managing Director, Monetary Authority of
Singapore |
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"The Singapore economy grew by a robust 6.4%
last year... |
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"Barring any unexpected shocks in the
external environment including an escalation in geopolitical risks in
the second half of this year, GDP growth for the year as a whole is
likely to be in the range of 5 to 7%..." |
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More..... |
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