mom - 14q3 - employment change by sector

8/10/2019 MOM - 14Q3 - Employment Change by Sector

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EMPLOYMENT SITUATION,Third Quarter 2014


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COPYRIGHT NOTICE

Brief extracts from the report may be reproduced for non-commercial use, provided the sourceis acknowledged. Request for extensive reproduction should be made to:

DirectorManpower Research and Statistics DepartmentMinistry of Manpower18 Havelock Road #05-01MOM Building

Singapore 059764Republic of Singapore

Fax: 63171804Email: [email protected]


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Manpower Research and Statist ics Department

MISSION

To provide timely and reliablenational statistical information on the labour market

to facilitate informed decision-making within the government and community-at-large


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Employment Situation, Third Quarter 2014

Contents

Page

NOTATIONS AND ABBREVIATIONS v

HIGHLIGHTS vi

EMPLOYMENT SITUATION, THIRD QUARTER 2014Overview 1Unemployment 1Employment 2

Redundancy 3

EXPLANATORY NOTES A1


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Notations

- : Nil or negligible: Preliminary

Q : Quarter M : March J : June S : September

D : December n.a. : Not applicable/not available

Abbreviations

CPF : Central Provident Fund

MOM : Ministry of ManpowerSSIC : Singapore Standard Industrial Classification


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HIGHLIGHTS

Preliminary estimates showed that the overall seasonally adjusted unemploymentrate held steady over the quarter in September 2014 (1.9%), and the rates forresidents (2.8%) and citizens (2.9%) were unchanged.

Overall employment growth in the third quarter of 2014 (27,100) remained largelysimilar to the previous quarter (27,700), though it slowed from a year ago (33,100).

There were 3,577,000 persons in employment in September 2014. This was 3.6%

higher than a year ago. This rate of increase over the year was lower than the3.8% in June 2014.

Redundancy rose in the third quarter of 2014, reflecting the impact ofrestructuring. Some 3,400 workers were laid off, up from 2,410 workers in thepreceding quarter and 2,710 in the third quarter of 2013.


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Overview

The job market remained tight, as unemployment for residents and citizens stayed low andsteady, and employment growth matched the previous quarter. Meanwhile, layoffsincreased, reflecting the impact of restructuring.

Unemployment

Unemploy ment stayed steady and low

Preliminary estimates showed that the overall seasonally adjusted unemployment ratesdipped from 2.0% in June 2014 to 1.9% in September 2014, while the rates for residents andcitizens were unchanged over the quarter at 2.8% and 2.9% respectively.

Chart 1: Unemployment Rate(Seasonally Adjusted)

5

6Rate (%)


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Employment

Employment growt h largely unchanged from the previous quarter

Overall employment growth in the third quarter of 2014 (27,100) remained largelyunchanged from the previous quarter (27,700), though it slowed from a year ago (33,100).

Services (23,500) continued to generate the majority of employment gains, higher than thethird quarter in 2013 (18,500). Meanwhile, construction (3,400) and manufacturing (300)grew more slowly than a year ago (construction: 10,700, manufacturing: 3,300).

There were 3,577,000 persons in employment in September 2014. This was 3.6% higherthan a year ago. This rate of increase over the year was lower than the 3.8% in June 2014.

Chart 2: Employment Change By Sector

40

50

T t l

Number (000)


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RedundancyLayoffs rose, reflecting impact of restructuring

Redundancy rose in the third quarter of 2014, reflecting the impact of restructuring. Some3,400 workers were laid off, up from 2,410 workers in the preceding quarter and 2,710 in thethird quarter of 2013.

Services formed the majority (1,900 or 56%), followed by manufacturing (1,300 or 38%) andconstruction (200 or 5.9%).

Chart 3.1: Redundancy

8,000

10,000

12,000

14,000

Number of Workers


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Chart 3.2: Redundancy By Sector

Source: Labour Market Survey, MOM

3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14

Total 1,930 3,190 2,750 2,020 1,960 3,250 2,600 2,210 2,850 3,350 2,120 3,080 2,710 3,660 3,110 2,410 3,400Manufacturing 970 1,37 0 1,44 0 600 770 1 ,6 60 750 52 0 1,200 1 ,580 6 80 1,630 1 ,250 1 ,430 820 710 1,30 0Construction 170 690 310 410 100 240 260 180 140 70 130 250 260 480 400 280 200Services 790 1,120 1,010 1,020 1,050 1,360 1,580 1,510 1,510 1,690 1,300 1,190 1,200 1,740 1,890 1,420 1,900

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000Number of Workers

Total

Manufacturing

Services

ConstructionP


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Explanatory NotesEmployment Situation, Third Quarter 2014

Unemployment

Source

Labour Force Survey

Coverage

The survey covers private households in Singapore. It excludes workers living in construction worksites,dormitories and workers quarters at the workplace and persons commuting from abroad to work in Singapore.Estimates of the total labour force are derived by combining data on residents (also known as locals) obtainedfrom the survey with foreign workforce data compiled from administrative records.

Concepts and Definitions

Unemployed persons refer to persons aged 15 years and over who did not work but were actively looking andavailable for work during the reference period. They include persons who were not working but were taking stepsto start their own business or taking up a new job after the reference period.

Unemployment rate is defined as the percentage of unemployed persons to the total number of economicallyactive persons (i.e. employed and unemployed persons) aged 15 years and over.


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Employment

Source

Primarily from administrative records. The self-employed component is estimated from the Labour Force Survey.

Coverage

The employment data comprise all persons in employment i.e. employees and the self-employed. However, itexcludes men who are serving their 2-year full-time national service liability in the Singapore Armed Forces,Police and Civil Defence Forces.

Data on the number of local (also known as resident) employees are compiled from the Central Provident Fund(CPF) Boards administrative records of active contributors defined as local employees who have at least one

CPF contribution paid for him/her. A local (also known as resident) employee is any Singapore citizen orPermanent Resident who is employed by an employer under a contract of service or other agreement enteredinto in Singapore. Every local employee and his/her employer are required to make monthly contributions to theCPF which is a compulsory savings scheme to provide workers financial security in old age and helps meet theneeds of healthcare, home-ownership, family protection and asset enhancement.

Data on foreigners working in Singapore are compiled from administrative records of foreigners on valid workpasses issued by the Ministry of Manpower. Foreigners can work in Singapore only if they have valid work

i d b h Mi i f M


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Redundancy

Source

Labour Market Survey

Coverage

Before 2006, the survey covers private sector establishments each with at least 25 employees. From 2006onwards, the survey also includes the public sector comprising government ministries, organs of state andstatutory boards.

Concepts and Definitions

Redundancy comprises retrenchment and early release of contract workers due to redundancy.

Retrenchment refers to the termination of employment of a permanent employee due to redundancy. In thepublic sector, it includes those who left service under the Special Resignation Scheme that allows redundantnon-deployable Civil Service or Statutory Board employees to leave their organisations with compensation.

l l f k f l hi h i d l


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More releases are available online @ http://stats.mom.gov.sg Subscribe to our email alert for the latest release

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mom - 14q3 - employment change by sector

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