SINGAPORE, Nov 28 — The ongoing economic downturn is unlike previous crises that Singapore has gone through — the job market is not as badly affected and there are still good job opportunities in certain sectors, Manpower Minister Josephine Teo said. Teo, who was speaking to the media yesterday...
Thursday, 28 Nov 2019 03:36 PM MYT
The labour force release, issued today, showed that despite economic headwinds, the resident employment rate was 80.8 per cent in June, higher than the 80.3 per cent a year ago, as more residents found jobs in professional services, financial and insurance services, information and communications and community, social and personal services.
Similarly, the economic crisis caused by the 2003 Sars outbreak, the downturn after the 9/11 attacks and the bursting of the dotcom bubble in 2001 and the Asian Financial Crisis of 1998 were “very, very frightening years” for Singapore, she added. Meanwhile, the community, social and personal services, professional services , information and communications, financial services and food and beverage sectors had the highest employment growth.
Even the manufacturing sector, which has been a major drag on Singapore’s economy, had 6,000 vacancies to fill in June this year, said Teo. “That will remain our focus: Help people enter into jobs where there is potential for growth, where there's potential for advancement,” she added. “Fear has a very strong emotional impact on our behaviour. During the Sars period, people were afraid to go out, full stop. All businesses were affected,” he noted.
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