International Business & Economy Job statistics reaching breaking point?

Job statistics reaching breaking point?

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By: Leong Sze Hian

I refer to the article “Number of jobseekers outnumber vacancies available, Ministry of Manpower reports” (The Independent Singapore, Dec 13). It states that ‘in the first nine months of 2016, 13,730 workers were laid off, higher than the same period in 2015 (10,220) and the highest since 2009 (21,210).”

LTU Share at 10-year high

According to the Ministry of Manpower’s (MOM) Labour Market Third Quarter report released on 13 December – the Long Term Unemployed (LTU) Share – which represents the long-term unemployed as a proportion of the unemployed, at 30.3 per cent is at a 10- year high.

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I believe it may even be the historical high.

No breakdown into S’poreans & PRs?

What is the breakdown of the long-term unemployed into Singaporeans and permanent residents (PRs)?

Degree holders & 50 and over worse hit

Degree holders formed the highest proportion by education, and those age 50 and over formed the highest by age – of the long-term unemployed.

14,500 employment growth – no breakdown?

Of the 14,500 employment growth in the first nine months of 2016 – how many were foreigners, PRs and Singaporeans?

In this connection, for the last 18 months to June 2016 – employment growth was 49,000 foreigners against only 500 locals.

Degree holders & 50 and over worse hit for re-entry rate

Degree holders also formed the lowest proportion by education, and those age 50 and over formed the lowest by age – for the rate of re-entry into employment.

Ratio of job vacancies to unemployed at 10-year low

The ratio of job vacancies to unemployed (seasonally adjusted) is also at a 10-year high.

No non-seasonally adjusted unemployment data?

I don’t seem to be able to find the non-seasonally adjusted unemployment rate and number of unemployed Singaporeans in the subject report – but it was 4.1 per cent and 92,300 as of June 2016.

2,700 contraction in 3rd quarter

With the 2,700 contraction in employment change in the third quarter – I believe these may now be even higher.

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