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14-03-2014, 11:20 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
Local employment growth was higher in 2013 than 2012
5.Local employment growth was stronger at 4.0% (82,900) in 2013, compared to 2.9% (58,700) in 2012, as firms tried harder to bring economically inactive residents back into employment amidst curbs on foreign employment growth. This was reflected in the increase in employment rates of older residents and female residents.4 Overall, the bulk of the growth in local employment were in the Services sector (77,100), led by the Community, Social & Personal Services, Professional Services, Admin & Support Services and Food & Beverage Services industries.
Foreign employment growth continued to slow
6.Growth in foreign employment (excluding FDWs) slowed for the second consecutive year to 4.6% (48,400) in 2013, down from 6.8% (67,100) in 2012, as previously announced foreign manpower tightening measures started to take effect. These included the reduction in Dependency Ratio for the Services sector5 and increased levy rates across all sectors. The bulk of foreign manpower growth came from the Construction sector (31,600), due to infrastructure projects such as the Downtown and Thomson MRT lines. Excluding Construction and FDWs, foreign employment grew by 2.3% (16,800) in 2013, down from 4.6% (32,200) in 2012.
7.By pass-type, the number of Employment Pass holders grew by 1,300 in 2013 after contracting by 1,600 in 2012. S-pass holder growth moderated to 18,500 in 2013, from 28,500 in 2012. Work Permit holder (excluding FDWs) growth slowed to 28,600 in 2013, from 40,300 in 2012. (See Annex A for more details)
8.In 2013, foreign workers comprised 36.9% of total employment growth (excluding FDWs), down from 53.3% in 2012. Overall, the foreign share of total employment (excluding FDWs) reached 33.8% in end 2013.
Layoffs increased slightly but re-entry into employment improved
9.As economic restructuring efforts continued, 11,560 workers were laid off in 2013, slightly higher than 11,010 in 20126 . The increase in layoffs stemmed mainly from Electronics and the Construction sector. Nevertheless, the rate of re-entry into employment within 6 months improved for the third successive quarter to reach 59% in December 2013. Overall, the labour market remained tight, with the ratio of job vacancies to jobseekers increasing to 1.44 in December 2013, from 1.05 in December 2012.
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?177185-PAP-created-48-000-jobs-for-FTs-last-year-67-000-the-year-before!!&goto=newpost).
Local employment growth was higher in 2013 than 2012
5.Local employment growth was stronger at 4.0% (82,900) in 2013, compared to 2.9% (58,700) in 2012, as firms tried harder to bring economically inactive residents back into employment amidst curbs on foreign employment growth. This was reflected in the increase in employment rates of older residents and female residents.4 Overall, the bulk of the growth in local employment were in the Services sector (77,100), led by the Community, Social & Personal Services, Professional Services, Admin & Support Services and Food & Beverage Services industries.
Foreign employment growth continued to slow
6.Growth in foreign employment (excluding FDWs) slowed for the second consecutive year to 4.6% (48,400) in 2013, down from 6.8% (67,100) in 2012, as previously announced foreign manpower tightening measures started to take effect. These included the reduction in Dependency Ratio for the Services sector5 and increased levy rates across all sectors. The bulk of foreign manpower growth came from the Construction sector (31,600), due to infrastructure projects such as the Downtown and Thomson MRT lines. Excluding Construction and FDWs, foreign employment grew by 2.3% (16,800) in 2013, down from 4.6% (32,200) in 2012.
7.By pass-type, the number of Employment Pass holders grew by 1,300 in 2013 after contracting by 1,600 in 2012. S-pass holder growth moderated to 18,500 in 2013, from 28,500 in 2012. Work Permit holder (excluding FDWs) growth slowed to 28,600 in 2013, from 40,300 in 2012. (See Annex A for more details)
8.In 2013, foreign workers comprised 36.9% of total employment growth (excluding FDWs), down from 53.3% in 2012. Overall, the foreign share of total employment (excluding FDWs) reached 33.8% in end 2013.
Layoffs increased slightly but re-entry into employment improved
9.As economic restructuring efforts continued, 11,560 workers were laid off in 2013, slightly higher than 11,010 in 20126 . The increase in layoffs stemmed mainly from Electronics and the Construction sector. Nevertheless, the rate of re-entry into employment within 6 months improved for the third successive quarter to reach 59% in December 2013. Overall, the labour market remained tight, with the ratio of job vacancies to jobseekers increasing to 1.44 in December 2013, from 1.05 in December 2012.
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?177185-PAP-created-48-000-jobs-for-FTs-last-year-67-000-the-year-before!!&goto=newpost).