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Raymond Han

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WHAT YOU SHOULD KNOW

Low Lying Areas In Singapore  Lists the flood-prone areas in Singapore.

Things you should know  Tells you things you need to be aware of - disasters, drowning cases, Hotel New World...

 

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Labour Market - First Quarter 2003 Report

The Manpower Research and Statistics Department has published a report on "Labour Market, First Quarter 2003". The 35-page report provides an update on the state of the labour market in the first quarter of 2003.

The uncertainty engendered by the US-Iraq war and the SARS outbreak cast a pall over the economy in the first quarter of 2003. These adverse developments snuffed out the early signs of improvement in the labour market that had emerged at the end of last year.

Unemployment in March 2003 rose to match the high hit a year ago, while vacancies fell to a new low. Although retrenchments fell compared to the previous quarter, the improvement was isolated to the goods manufacturing industries as services industries saw more layoffs.

Total employment shrank for the 7th consecutive quarter by 4,089 in the first quarter of 2003. The bulk of the employment declines came from construction (-6,453) dragged down by the decline in activity in both the private and public sectors.

Despite the expansion in output in manufacturing, the sector shed 2,592 workers in the first quarter of 2003. The losses mainly in electronic products (-2,114) and transport equipment (-1,937) offset the gains mostly in petroleum & chemical (1,473) industry.

Only the services producing industries posted employment gains of 5,111. These were concentrated in community, social & personal services (5,657) industry which helped temper the losses experienced by hotels (-1,599), wholesale & retail trade (-583) and post & telecommunications (-191).

The renewed slackness in the labour market ended the brief improvement in unemployment in December 2002. The seasonally adjusted unemployment rate rose to 4.5% in March 2003 after dipping to 4.2% in December 2002. Among the resident labour force, the seasonally adjusted unemployment rate was 5.2% matching the high of a year ago that was brought about by the 2001 economic downturn.

A preliminary estimated 75,000 residents were unemployed. The seasonally adjusted figure was 89,400 up from 81,500 in December 2002. One third or 24,900 (non-seasonally adjusted) of the unemployed residents had been looking for work for at least six months. This was significantly higher than 23% or 16,500 a year ago.

More.....

Source: Ministry of Manpower Press Release 13 Jun 2003

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We are now 5437 pages thick and growing.

Public Holidays NATIONAL DAY is the next public holiday. It falls on Saturday 9 August 2003.

 

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Wednesday
18 June 2003

Singapore Time