Huat Zai Posted May 1 Share Posted May 1 According to the advance estimates released by the Singapore Ministry of Manpower (MOM) on Tuesday, the labor market in Singapore experienced moderate expansion in the first quarter of 2024. The growth pace has slowed compared to previous quarters, a trend that MOM attributes to the cooling labor demand observed throughout 2023 due to ongoing global economic uncertainties. Excluding Migrant Domestic Workers, the total employment figures recorded an increase, primarily driven by an uptick in resident employment. This contributed to maintaining low unemployment rates and a decrease in retrenchments for the second consecutive quarter. MOM reports that total employment increased by 4,900 in Q1 2024, a slowdown from the 7,500 increase in the previous quarter. This growth was entirely supported by a significant rise in resident employment, which not only surpassed last year’s figures but also reached levels seen in non-recessionary periods. Conversely, non-resident employment saw its first contraction since the third quarter of 2021, reflecting diminished labor demand. According to MOM, the growth in resident employment was notably strong in sectors such as Financial Services, Health & Social Services, and Public Administration & Education. These sectors managed to compensate for the seasonal employment declines in Retail Trade, Food & Beverage Services, and Accommodation sectors after the festive period. The construction sector, primarily employing Work Permit holders, experienced a reduction following changes in the sector’s Dependency Ratio Ceiling effective from 1 January 2024. MOM states that retrenchments decreased to 3,000 in the first quarter of 2024, down from 3,460 in the previous quarter. The predominant cause of retrenchments was business reorganization and restructuring, indicating ongoing industry transformation. The unemployment rates in March 2024 experienced a slight uptick to 2.1% overall, with residents at 3.0% and citizens at 3.1%. MOM highlights that these rates are still within the pre-pandemic range, underscoring the underlying resilience of the labor market. However, MOM’s figures also show that the number of unemployed residents increased by 5,200 (non-seasonally adjusted) and 4,700 (seasonally adjusted), from Q4 2023 to Q1 2024, a rise that exceeds the increase in resident employment growth. The Ministry of Trade and Industry (MTI) projects an economic upturn in 2024, which MOM cites as a likely catalyst for strengthened labor demand. While wage increases may decelerate, MOM’s surveys indicate an optimistic hiring outlook, with 50.7% of firms expressing intentions to recruit more staff in the next three months. To facilitate economic growth and workforce adaptation, MOM emphasizes the critical role of reskilling and job redesign. Initiatives like the Career Conversion Programmes and the Jobs Transformation Maps are essential in preparing Singaporeans for future job demands, according to MOM. MOM urges all stakeholders to fully utilize the available support programmes to remain competitive and resilient amidst economic fluctuations. It should also be noted that the reference period for the survey data refers to the week preceding the survey interview. ‘Employed Persons’ are defined as individuals aged fifteen years and over who, during the reference period, worked for one hour or more, either for pay or profit. While the number of employed has not decreased drastically, this definition by MOM raises concerns about the number of income-related under-employed individuals, as working merely one hour a week qualifies a person as ’employed’ rather than ‘unemployed.'” https://gutzy.asia/2024/04/30/mom-q1-2024-labour-report-shows-increase-in-resident-unemployed-higher-than-resident-employment-growth/ 1 Link to comment Share on other sites More sharing options...
Huat Zai Posted May 1 Author Share Posted May 1 1 4 Link to comment Share on other sites More sharing options...
Coffee_O Posted May 2 Share Posted May 2 u employed 1 CECA, he/she will bring in spouse, ah gong, ah ma, lao bei, lao bu,at leaset 2 children into singapore and leech our resources. even worse when they convert to PR or new shitizens 1 1 1 Link to comment Share on other sites More sharing options...
XianGe Posted May 2 Share Posted May 2 It's quite sad sinkies nid become grab driver/ food delivery rider to survive... 1 1 Link to comment Share on other sites More sharing options...
Satki Posted May 2 Share Posted May 2 Time to decide Soon Make it matter Or STFU Cheers 1 1 Helping a friend to gain more subscribers. He is quite a talented music creator. Look for "Thee Influence" in Youtube Link to comment Share on other sites More sharing options...
Coffee_O Posted May 2 Share Posted May 2 25 minutes ago, XianGe said: It's quite sad sinkies nid become grab driver/ food delivery rider to survive... honestly to be fair. some of the PHV drivers are short sighted and choose this path themselves thats why i always said. if you are in your 30s to 40s and not kena retrenched and choose to be a full time PHV drivers. you are a fucking loser. Cos that 10 over yrs are the golden period to build up your career. if you lose that golden period and choose to drive PHV 10 yrs later what did you gain? PHV supervisor or managers and your salary will increase? you are basically contributing to the CEO GCB only 1 Link to comment Share on other sites More sharing options...
XianGe Posted May 2 Share Posted May 2 14 minutes ago, Coffee_O said: honestly to be fair. some of the PHV drivers are short sighted and choose this path themselves thats why i always said. if you are in your 30s to 40s and not kena retrenched and choose to be a full time PHV drivers. you are a fucking loser. Cos that 10 over yrs are the golden period to build up your career. if you lose that golden period and choose to drive PHV 10 yrs later what did you gain? PHV supervisor or managers and your salary will increase? you are basically contributing to the CEO GCB only Old liao they jz become phv laojiao... Who will get replaced by self driving vehicles in future.. Yes u right. Some picked phv early in their career after looking at the short term gain/adverts... IT sarpot or those less lucrative industry only earn 2k to 3k so they bite the phv route 1 1 Link to comment Share on other sites More sharing options...
Coffee_O Posted May 2 Share Posted May 2 26 minutes ago, XianGe said: Old liao they jz become phv laojiao... Who will get replaced by self driving vehicles in future.. Yes u right. Some picked phv early in their career after looking at the short term gain/adverts... IT sarpot or those less lucrative industry only earn 2k to 3k so they bite the phv route Thats why i said ma. looking at how sinkies cast their votes. sinkies are mostly daft and short-sighted LOL 1 2 Link to comment Share on other sites More sharing options...
socrates469bc Posted May 2 Share Posted May 2 (edited) 11 hours ago, Huat Zai said: 3 hours ago, Coffee_O said: u employed 1 CECA, he/she will bring in spouse, ah gong, ah ma, lao bei, lao bu,at leaset 2 children into singapore and leech our resources. even worse when they convert to PR or new shitizens 2 hours ago, XianGe said: It's quite sad sinkies nid become grab driver/ food delivery rider to survive... 2 hours ago, Satki said: Time to decide Soon Make it matter Or STFU Cheers limpeh yesterday alrdy explained to all u kumgong pappy serfs why u all r kumgong pappy serfs and today all u kumgong pappy serfs dare to ask ur pappy Lords questions u all kumgong pappy serfs planning to rebel, is it??????? later pappy Lords will find ur kumgong pappy serf leader and mete out the appropriate punishment for instigating rebellion!!!!!!!! Edited May 2 by socrates469bc 1 Link to comment Share on other sites More sharing options...
The_King Posted May 2 Share Posted May 2 2 hours ago, XianGe said: It's quite sad sinkies nid become grab driver/ food delivery rider to survive... Sinkies votes for this to happen. Can only blame themselves 2 Link to comment Share on other sites More sharing options...
Satki Posted May 2 Share Posted May 2 41 minutes ago, The_King said: Sinkies votes for this to happen. Can only blame themselves they felt blessed That is more concerning 3 Helping a friend to gain more subscribers. He is quite a talented music creator. Look for "Thee Influence" in Youtube Link to comment Share on other sites More sharing options...
Satki Posted May 2 Share Posted May 2 45 minutes ago, socrates469bc said: wah one time cover 4 posts slow day at SGX? 1 Helping a friend to gain more subscribers. He is quite a talented music creator. Look for "Thee Influence" in Youtube Link to comment Share on other sites More sharing options...
The_King Posted May 2 Share Posted May 2 3 minutes ago, Satki said: they felt blessed That is more concerning Their kids will feel blessed paying 1 million hdb housing loan 2 Link to comment Share on other sites More sharing options...
2Veg_1Meat Posted May 2 Share Posted May 2 Why are you guys complaining? According to LHL, importing more foreigners create more good jobs for Singaporeans. 3 Link to comment Share on other sites More sharing options...
Huat Zai Posted May 2 Author Share Posted May 2 1 hour ago, 2Veg_1Meat said: Why are you guys complaining? According to LHL, importing more foreigners create more good jobs for Singaporeans. 3 Link to comment Share on other sites More sharing options...
Satki Posted May 3 Share Posted May 3 12 hours ago, 2Veg_1Meat said: Why are you guys complaining? According to LHL, importing more foreigners create more good jobs for Singaporeans. unfortunately this is not the IB forum so you expect people with a brain and can think. If you want to experience the group think of "hail the grand master" then NK is for you. Cheers 2 1 Helping a friend to gain more subscribers. He is quite a talented music creator. Look for "Thee Influence" in Youtube Link to comment Share on other sites More sharing options...
socrates469bc Posted May 4 Share Posted May 4 On 5/2/2024 at 5:41 PM, Satki said: kor kor really see limpeh no up sgx is so passe limpeh now go north to explore this market wahahahahahahahahahahahahaha 1 Link to comment Share on other sites More sharing options...
Satki Posted May 4 Share Posted May 4 wah Kor Kor now go international jiak buay liao so sian already with siam bus? 2 Helping a friend to gain more subscribers. He is quite a talented music creator. Look for "Thee Influence" in Youtube Link to comment Share on other sites More sharing options...
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