SINGAPORE: A recent survey conducted by the National Trades Union Congress (NTUC) has revealed that nearly one-third of local employees are worried about job security. The survey, which gathered responses from over 2,000 local workers between November and December 2024, found that 34% of respondents expressed concern about the possibility of losing their jobs in the next three months.
NTUC reported that 9,350 individuals were laid off during the first three quarters of 2024. This number already surpasses the total number of layoffs recorded in both 2021 and 2022. Furthermore, the total layoffs in FY24 are nearing the full-year figure for 2023, which stood at 14,590.
In response to these growing concerns, NTUC has taken proactive steps to address job security issues by organizing its first NTUC Career Festival, which was held over two days. The expo, aimed at providing workers with new career opportunities and skills enhancement, offered more than 5,000 job openings.
NTUC Secretary-General Ng Chee Meng, who spoke at the event, acknowledged the rising concerns among workers and assured that the organization is committed to improving job security through various initiatives.
He further emphasized that NTUC is actively investing in new technologies and support systems to better assist workers in their career development. The organization is working closely with entrepreneurs to explore ways to transform businesses, ensuring they remain competitive and sustainable, which in turn can help preserve jobs.
The Career Festival featured over 70 employers, including prominent companies such as Marina Bay Sands, ST Engineering, and Amazon Services Network. The event aimed to bridge the gap between job seekers and employers, offering opportunities for networking, skills development, and career advancement.