Unemployment rate for over-30s creeps up

[Hephaestus]

Unemployment rate for over-30s creeps up

 

This group of job-seekers runs the risk of skills obsolescence, says Manpower Minister

04:45 AM Jun 16, 2012

by Sara Grosse

 

 

SINGAPORE - As Singapore's labour market shows signs of softening, Minister of State for Manpower Tan Chuan-Jin yesterday flagged an area of concern: The long-term unemployment rate, while still low, has crept up over the year for residents aged 30 and over.

 

For residents aged 30 to 39, the figure rose from 0.3 per cent to 0.4 per cent, while for mature residents aged 40 and over, the figure rose from 0.7 per cent to 0.8 per cent.

 

"This group of job-seekers remains unemployed and is still unable to secure a new job after an extended period of time," wrote Mr Tan on The Manpower Blog.

 

"Thus, skills obsolescence could potentially set in."

 

He gave assurance that the Government will work closely with the Singapore Workforce Development Agency to help these job-seekers with training and finding new jobs.

 

The report released yesterday showed that job creation had slowed in the first three months of the year with 27,200 jobs created, down from 28,300 a year ago.

 

Unemployment rose slightly to 2.1 per cent in March from 2.0 per cent last December, while the number of job vacancies fell by 5.1 per cent over the year to 46,800 in March.

 

Inflation continued to weigh down on wages, with real average monthly earnings falling by 3.9 per cent in the first quarter from last year, following a 1.4-per-cent drop in the fourth quarter of last year.

 

Recruiters told Channel NewsAsia that they were concerned about Singapore's labour productivity, which fell by 2.2 per cent in the first quarter after declining by 0.5 per cent in the previous quarter.

 

Some, like Randstad Regional Director Karin Clarke, said it suggests that firms are not improving their productivity despite challenges in finding the right talent.

 

As for the dip in employment rate, Association of Small and Medium Enterprises President Chan Chong Beng said: "That small increase in the unemployment rate could possibly be offset later on by the cutting-down of the dependency ratio ceiling."

 

Meanwhile, 2,600 workers were made redundant in the first quarter of this year, down from 3,250 in last year's fourth quarter.

URL http://www.todayonline.com/Singapore/EDC12...r-30s-creeps-up

 

Copyright 2012 MediaCorp Pte Ltd | All Rights Reserved

[Ysc3]

its not about age, its not about color, not about sex, not about nationality and definitely not about skills.

 

so what's it all about ??

[I-LOVE-CARS]

Unemployment rate for over-30s creeps up

 

This group of job-seekers runs the risk of skills obsolescence, says Manpower Minister

04:45 AM Jun 16, 2012

by Sara Grosse

 

 

SINGAPORE - As Singapore's labour market shows signs of softening, Minister of State for Manpower Tan Chuan-Jin yesterday flagged an area of concern: The long-term unemployment rate, while still low, has crept up over the year for residents aged 30 and over.

 

For residents aged 30 to 39, the figure rose from 0.3 per cent to 0.4 per cent, while for mature residents aged 40 and over, the figure rose from 0.7 per cent to 0.8 per cent.

 

"This group of job-seekers remains unemployed and is still unable to secure a new job after an extended period of time," wrote Mr Tan on The Manpower Blog.

 

"Thus, skills obsolescence could potentially set in."

 

He gave assurance that the Government will work closely with the Singapore Workforce Development Agency to help these job-seekers with training and finding new jobs.

 

The report released yesterday showed that job creation had slowed in the first three months of the year with 27,200 jobs created, down from 28,300 a year ago.

 

Unemployment rose slightly to 2.1 per cent in March from 2.0 per cent last December, while the number of job vacancies fell by 5.1 per cent over the year to 46,800 in March.

 

Inflation continued to weigh down on wages, with real average monthly earnings falling by 3.9 per cent in the first quarter from last year, following a 1.4-per-cent drop in the fourth quarter of last year.

 

Recruiters told Channel NewsAsia that they were concerned about Singapore's labour productivity, which fell by 2.2 per cent in the first quarter after declining by 0.5 per cent in the previous quarter.

 

Some, like Randstad Regional Director Karin Clarke, said it suggests that firms are not improving their productivity despite challenges in finding the right talent.

 

As for the dip in employment rate, Association of Small and Medium Enterprises President Chan Chong Beng said: "That small increase in the unemployment rate could possibly be offset later on by the cutting-down of the dependency ratio ceiling."

 

Meanwhile, 2,600 workers were made redundant in the first quarter of this year, down from 3,250 in last year's fourth quarter.

URL http://www.todayonline.com/Singapore/EDC12...r-30s-creeps-up

 

Copyright 2012 MediaCorp Pte Ltd | All Rights Reserved

 

Well then i should be happy that i landed myself in a pretty stable job with a pretty stable company

[Throttle2]

Well then i should be happy that i landed myself in a pretty stable job with a pretty stable company

 

abo then.

 

mmm zhai see ah....people like us slog day in day out and live from hand to mouth...you of course should be pray heaven pray earth, happy lah

 

[13177]

Sometimes it is not about your age, above 30s or even 40s doesnt mean you are high chance of unemployment. I know many people even in their mid 30s to 40s, they are still changing job without any problem.

[Kb27]

They have a word for it called "structural unemployment", when you don't fit into any of the nicely labelled unemployed bin.

[LonelyBro]

in singapore, it has always been especially true that younger the worker, easier it is to find jobs.

[LonelyBro]

in singapore, it has always been especially true that younger the worker, easier it is to find jobs.

[Wade12]

much appreciated

 

-bump-

 

[Sosaria]

its not about age, its not about color, not about sex, not about nationality and definitely not about skills.

 

so what's it all about ??

 

For the lower ranks, age is a big factor. Younger employees can do the same simple close to entry level jobs with lower salaries.

 

You look at a lot of the job ads out there are targeted at fresh grads or those recently graduated within 3 to 5 years or so. Once beyond that limit, the door closes, unless you're gunning for higher level and more specialised jobs - in which case, there are fewer on offer and the competition is much tougher.

 

Talk about skills obsolescence, but a lot of those training schemes offering job and bond are clearly only reserved for fresh or recent grads. Since these schemes are jointly administered with stat board... why not extend to mid-career people? Salary not sufficient?

Edited June 18, 2012 by Sosaria

[newone]

 

Unemployment in Singapore rises, more workers made redundant in Q2

SINGAPORE: Amid weaker economic conditions, Singapore’s unemployment rate rose in the second quarter as more workers were made redundant, according to the Ministry of Manpower (MOM).

The overall unemployment rate rose from 1.9 per cent in March to 2.1 per cent in June, figures released in the ministry’s half-yearly Labour Market report showed. Among citizens, unemployment rose from 2.6 per cent to 3.1 per cent and rose from 2.7 per cent to 3 per cent among residents.

Unemployment rose further among residents aged 30 and above, and in particular, for those aged 50 and above, which saw unemployment rise for the fifth consecutive quarter. Those with higher qualifications were not spared, with unemployment rates among degree holders rising to their highest level since 2009.

Total employment grew by 4,200, down from 13,000 in the previous quarter and 9,700 in the same quarter a year ago.

MORE JOBSEEKERS THAN OPENINGS

For the first time since June 2012, there were more jobseekers than job openings during the second quarter, according to the report.

The number of seasonally adjusted vacancies fell from 50,000 in March to 49,400 in June, continuing a downward trend since March 2015. Coupled with the increase in unemployed people, the ratio of job vacancies to unemployed people fell to 93 openings per 100 seekers, compared to 103 in March.

MORE WORKERS LAID OFF

A total of 4,800 workers were made redundant during the second quarter, up from 4,710 the previous quarter and 3,250 in the same period a year ago. This was the highest second-quarter redundancy since 2009, which saw 5,980 jobs shed, according to MOM.

Altogether, 9,510 workers were laid off in the first half of the year, also the highest since 2009.

Based on Central Provident Fund (CPF) records, 45 per cent of residents laid off during the first quarter re-entered employment by June, the lowest rate since June 2009, the ministry said.

- CNA/cy

 

[Vratenza]

Die... now COE really cannot come down liao......

 

Where will these laid off people flock to? LCR.....

 

Unemployment in Singapore rises, more workers made redundant in Q2

SINGAPORE: Amid weaker economic conditions, Singapore’s unemployment rate rose in the second quarter as more workers were made redundant, according to the Ministry of Manpower (MOM).

The overall unemployment rate rose from 1.9 per cent in March to 2.1 per cent in June, figures released in the ministry’s half-yearly Labour Market report showed. Among citizens, unemployment rose from 2.6 per cent to 3.1 per cent and rose from 2.7 per cent to 3 per cent among residents.

Unemployment rose further among residents aged 30 and above, and in particular, for those aged 50 and above, which saw unemployment rise for the fifth consecutive quarter. Those with higher qualifications were not spared, with unemployment rates among degree holders rising to their highest level since 2009.

Total employment grew by 4,200, down from 13,000 in the previous quarter and 9,700 in the same quarter a year ago.

MORE JOBSEEKERS THAN OPENINGS

For the first time since June 2012, there were more jobseekers than job openings during the second quarter, according to the report.

The number of seasonally adjusted vacancies fell from 50,000 in March to 49,400 in June, continuing a downward trend since March 2015. Coupled with the increase in unemployed people, the ratio of job vacancies to unemployed people fell to 93 openings per 100 seekers, compared to 103 in March.

MORE WORKERS LAID OFF

A total of 4,800 workers were made redundant during the second quarter, up from 4,710 the previous quarter and 3,250 in the same period a year ago. This was the highest second-quarter redundancy since 2009, which saw 5,980 jobs shed, according to MOM.

Altogether, 9,510 workers were laid off in the first half of the year, also the highest since 2009.

Based on Central Provident Fund (CPF) records, 45 per cent of residents laid off during the first quarter re-entered employment by June, the lowest rate since June 2009, the ministry said.

- CNA/cy

 

 

[Jamesc]

Sometimes it is not about your age, above 30s or even 40s doesnt mean you are high chance of unemployment. I know many people even in their mid 30s to 40s, they are still changing job without any problem.

 

That's very true.

 

By the way which companies did they leave and what positions?

 

If got good opportunities I don't mind applying.

 

[Ahbengdriver]

But Politicians over 30 years old very Zhai leh?

[Kb27]

It's simple.

Business wants to lower cost.

If FT can accept lower pay than you, he's hired.

So you have to lower your expectation or you don't get hired.

If business is looking to let people go, and you'll the highest paid, off you go first.

[Wt_know]

It's simple.

Business wants to lower cost.

If FT can accept lower pay than you, he's hired.

So you have to lower your expectation or you don't get hired.

If business is looking to let people go, and you'll the highest paid, off you go first.

hmm ... how come this logic not apply to ah gong leh

must pay highest and no need to let go even major cock up

Edited September 15, 2016 by Wt_know

[Thaiyotakamli]

hmm ... how come this logic not apply to ah gong leh

must pay highest and no need to let go even major cock up

Cos gahmen don't want reduce cost

 

[Kb27]

hmm ... how come this logic not apply to ah gong leh

must pay highest and no need to let go even major cock up

 

ah gong don't have to make money like private business does.

They just take money when not enough, increase gst, increase cpf min sum, increase COE, ERP, etc.

 

They have their own brand of meritocracy.