S'pore's Q1 labour market sees 1st quarterly contraction
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S'pore's Q1 labour market sees 1st quarterly contraction in nearly 6 years
SINGAPORE: Singapore's labour market saw its first quarterly contraction in nearly six years with total employment falling by 6,200.
This means the number of workers who left their jobs outstripped those who got hired.
The Manpower Ministry said falling external demand has severely affected the manufacturing sector, and along with employment losses in the external-oriented services industries more than offset gains in the domestic services and construction sectors.
At home, construction employment grew by 8,300 but less than the gains of 10,700 in the previous quarter.
Services added 7,500 workers, which was again substantially lower than the gains in the fourth quarter of 2008 which stood at 17,300.
The gains came mainly from community, social and personal services, supported by public sector hiring.
However, services industries with external exposure like hotels and restaurants went into the red and netted 2700 jobs, while financial services saw a net loss of 1,900 jobs.
Transport and storage and wholesale and retail trade were similarly affected.- CNA/vm
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Local media usually softens all the bad news.
The above numbers could actually be worse than reported.
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What goes down will come up?
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Originally posted by lianamaster:
What goes down will come up?
The force of gravity is at work. What's goes up must come down except inflation which is rules by another set of law.
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Originally posted by Chew Bakar:
The force of gravity is at work. What's goes up must come down except inflation which is rules by another set of law.
oh..nice one... hates the impact of inflation... what must there be exceptions?
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Originally posted by lianamaster:
oh..nice one... hates the impact of inflation... what must there be exceptions?
The law of hot air governs inflation.