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24-04-2014, 11:00 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
More workers laid off in 2013, compared with 2012: MOM report
Joanna Seow
The Straits Times
Thursday, Apr 24, 2014
Slightly more workers were laid off last year, said the Manpower Ministry (MOM) in a report released on Thursday. But as there were more employees overall, the incidence of redundancy remained the same as in 2012.
According to the "Redundancy and Re-entry into Employment 2013 report, a total of 11,560 workers were laid off in 2013, up from 11,010 in 2012. In both years, this affected 5.8 workers per 1,000 employees.
Restructuring of business processes for greater work efficiency remained the top reason for redundancy in 2013, with professionals, managers, executives & technicians (PMETs) more vulnerable to being laid off.
Here is the press release from the Ministry of Manpower:
Key Findings from "Redundancy and Re-entry into Employment, 2013" Report
The incidence of redundancy and unemployment remained low in 2013, as the labour market continued to be tight. While the overall rate of re-entry into employment declined slightly, there were signs of improvement in the last three quarters of the year.
Redundancy
In 2013, 11,560 workers were laid off, slightly higher than the 11,010 in 2012.
Seen against a larger pool of employees, the incidence of redundancy remained low at 5.8 workers per 1,000 employees, unchanged from 2012. 3 Restructuring of business processes for greater work efficiency remained the top reason for redundancy in 2013, affecting 40% of the workers laid off in 2013, up from 37% in 2012. High costs and reorganisation of businesses were the other key reasons cited.
Professionals, managers, executives & technicians (PMETs) were more vulnerable to redundancy, with 7.3 made redundant for every 1,000 PMETs, compared to production & related workers (5.7 per 1,000) and clerical, sales & service workers (2.8 per 1,000). Nonetheless, the unemployment rate of PMETs remained lower than other occupations, and the number of residents laid off from PMET positions was not large at 4,940.
Re-entry into Employment
Two-thirds (66%) of residents made redundant in the first three quarters of 2013 re-entered employment by December 2013, within 12 months of redundancy. This was slightly lower than the rate experienced by the preceding cohort in 2012 (68%), due to PMETs who take longer to secure re-entry into employment, as they spend more time seeking jobs that match their skills, qualifications and salary expectations. However, there was improvement in the last three quarters of the year, with the rate of re-entry into employment within six months of redundancy rising from 49% in March 2013 to 59% in December 2013.
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?180202-More-good-economic-news!!!!&goto=newpost).
More workers laid off in 2013, compared with 2012: MOM report
Joanna Seow
The Straits Times
Thursday, Apr 24, 2014
Slightly more workers were laid off last year, said the Manpower Ministry (MOM) in a report released on Thursday. But as there were more employees overall, the incidence of redundancy remained the same as in 2012.
According to the "Redundancy and Re-entry into Employment 2013 report, a total of 11,560 workers were laid off in 2013, up from 11,010 in 2012. In both years, this affected 5.8 workers per 1,000 employees.
Restructuring of business processes for greater work efficiency remained the top reason for redundancy in 2013, with professionals, managers, executives & technicians (PMETs) more vulnerable to being laid off.
Here is the press release from the Ministry of Manpower:
Key Findings from "Redundancy and Re-entry into Employment, 2013" Report
The incidence of redundancy and unemployment remained low in 2013, as the labour market continued to be tight. While the overall rate of re-entry into employment declined slightly, there were signs of improvement in the last three quarters of the year.
Redundancy
In 2013, 11,560 workers were laid off, slightly higher than the 11,010 in 2012.
Seen against a larger pool of employees, the incidence of redundancy remained low at 5.8 workers per 1,000 employees, unchanged from 2012. 3 Restructuring of business processes for greater work efficiency remained the top reason for redundancy in 2013, affecting 40% of the workers laid off in 2013, up from 37% in 2012. High costs and reorganisation of businesses were the other key reasons cited.
Professionals, managers, executives & technicians (PMETs) were more vulnerable to redundancy, with 7.3 made redundant for every 1,000 PMETs, compared to production & related workers (5.7 per 1,000) and clerical, sales & service workers (2.8 per 1,000). Nonetheless, the unemployment rate of PMETs remained lower than other occupations, and the number of residents laid off from PMET positions was not large at 4,940.
Re-entry into Employment
Two-thirds (66%) of residents made redundant in the first three quarters of 2013 re-entered employment by December 2013, within 12 months of redundancy. This was slightly lower than the rate experienced by the preceding cohort in 2012 (68%), due to PMETs who take longer to secure re-entry into employment, as they spend more time seeking jobs that match their skills, qualifications and salary expectations. However, there was improvement in the last three quarters of the year, with the rate of re-entry into employment within six months of redundancy rising from 49% in March 2013 to 59% in December 2013.
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?180202-More-good-economic-news!!!!&goto=newpost).