Unemployment Rate as of Sep 2005
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Nearly 70,000 people remain unemployed in Sept this year!
And a large proportion of those have been job searching for the past 25 months or more!
This statistics was just released over the Ch 5 News! Whoa... the situation's THIS bad?
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Hard to make a living in Singapore nowadays.
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Well, why not be an insurance agent?
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Well, you certainly won't be able to sell any insurance to the unemployed!Originally posted by shade343:Well, why not be an insurance agent? -
A summary on the employment scene in Singapore
15 December 2005
Labour Market, Third Quarter 2005
On the back of an improving economy, overall employment has turned in another quarter of strong gains, adding to the increases of the past eight quarters. Unemployment rate has also edged down slightly.
2 Employment grew by a healthy 28,500 in Q3 05. Although lower than the preceding quarterÂ’s gain of 31,700, the increase is double the 14,100 in the same period a year ago. Cumulatively, employment expanded by 78,000 in the first nine months of 2005, surpassing the 71,400 gains for the whole of last year.
3 Amid the healthy economic expansion, the seasonally adjusted overall unemployment rate dipped slightly to 3.3% in Sep 05 from 3.4% in Jun 051. Among the resident2 labour force, the seasonally adjusted rate was 4.4%, also lower than 4.5% in Jun 05. Slightly over one in five resident jobs seekers (21% or 14,800) in Sep 05 were unemployed for at least 25 weeks. These long-term unemployed were mostly the less educated and mature job seekers.
4 A survey of private sector establishments each with at least 25 employees revealed that 2,810 workers were retrenched in Q3 05. This is substantially higher than previous quarterÂ’s 2,116 and 1,967 in Q3 04, pulled up by a few major retrenchment cases mainly in the electronics industry.
5 Private sector job openings numbered 20,100 in Sep 05. This is an increase of 4.2% over the previous quarter and 6.1% higher than a year ago. However, after discounting for seasonal influences, private sector job vacancies in Sep 05 fell slightly from the quarter before. The seasonally adjusted ratio of job vacancies to unemployed persons decreased from 46 in Jun 05 to 42 job openings for every 100 job seekers in Sep 053. Nevertheless, this is an improvement from the low of 21 openings per 100 job seekers experienced in Sep 03, following the SARS outbreak.
6 Indicating a tightening of the labour market, nominal earnings rose year-on-year by 4.5% in Q3 05, up from the 2.5% rise in the previous quarter. Most industries saw higher earnings growth except for construction, hotels & restaurants and business & real estate services.
7 Employment has turned in another quarter of healthy gains, reflecting the continuing strength in the economy. Looking ahead, the employment expansion is likely to be sustained for the rest of the year, supported by the year-end festivities. Consequently, employment creation for the whole of this year is expected to match or even exceed the robust gains of 108,500 experienced during the economic boom in 2000.
Taken from www.mom.gov.sg -
I mean those unemployed cold find a job as an insurance agent and try to sell it to those who are employed.Originally posted by Rhonda:Well, you certainly won't be able to sell any insurance to the unemployed! -
Yes. And I'm saying that insurance agents won't be able to sell it to the unemployed.Originally posted by shade343:I mean those unemployed cold find a job as an insurance agent and try to sell it to those who are employed. -
tell me abt it... i'm one of the "statistics"......
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that why i stay at my company 4 so long with no ot payOriginally posted by tare:tell me abt it... i'm one of the "statistics"...... -
mi too mi too... but the opposite side of the stats lor..Originally posted by tare:tell me abt it... i'm one of the "statistics"...... 
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most co. once u hit certain salary scale, u're considered executives and not entitled to OT pay wat...Originally posted by kenlim81:that why i stay at my company 4 so long with no ot pay -
Actually even if you're not at Executive level, most companies don't pay OT either.
In my entire working career, even when I was at a junior level, I was never ever paid OT! -
all becuz of china. They intro a lot of incentive especially a 17% VAT for foreign electronics imports but only a 3% VAT for electronics manufactured indigenously in china. So big american giants like HP, IBM, Cisco, Dell already operating in china start to shift to locally made in china components to cash in on savings, making our main bread earning electronics exports that made in singapore uncompetitive and very expensive.Originally posted by Rhonda:Nearly 70,000 people remain unemployed in Sept this year!
And a large proportion of those have been job searching for the past 25 months or more!
This statistics was just released over the Ch 5 News! Whoa... the situation's THIS bad?
So our own local manufacturing companies who don't want to lose their customers to mainland competitors also start relocating to china opening plants employing mainlanders and closing unprofitable plants back home, hence inevitable retrenchments follow. NO WAY OUT situation. -
u are rightOriginally posted by Rhonda:Actually even if you're not at Executive level, most companies don't pay OT either.
In my entire working career, even when I was at a junior level, I was never ever paid OT! -
I think the real situation is likely to be worse than what is reported in the news.
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lots of things i want to say or do in response to this piece of news. but i shall suffice with a "no comment" least i offend some people here with more delicate sensibilities.
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Yeah, it usually is! They usually gloss over the statistics, probably to prevent 'mass panic'!Originally posted by av98m:I think the real situation is likely to be worse than what is reported in the news. -
Well, thanks for saying a whole lot of... nothing!Originally posted by HENG@:lots of things i want to say or do in response to this piece of news. but i shall suffice with a "no comment" least i offend some people here with more delicate sensibilities.
In any case, if you present your arguments logically, and you don't resort to insulting people in the process, who's to say that your different opinion won't be accepted here?
There are lots of diverse opinions in here all the time.
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me too...Originally posted by tare:tell me abt it... i'm one of the "statistics"...... 
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me too
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Me oso
but who cares, it is just another number in our lives.