The labour market remained tight in the first quarter of the year, with more job vacancies and fewer workers losing their jobs, according to figures released yesterday by the Manpower Ministry.
There was also a slight improvement in long-term unemployment, which was 0.6 per cent in March for Singaporeans and permanent residents — down from 0.7 per cent a year ago.
The number of job vacancies rose by 17 per cent, reversing the decline of 7 per cent in the previous quarter. Of these, 43 per cent were for professionals, managers, executives and technicians (PMETs) while the remainder was for production, transport operators, cleaners and labourers, and clerical, sales and service workers.
Commenting on the figures, Adecco Singapore Country Manager Femke Hellemons said: “This job report will be particularly encouraging to those graduates who are looking to enter the workforce this year, with a growing number of graduate job opportunities in the areas of IT, engineering and pharmaceuticals.”
First quarter lay-offs fell to 2,120, compared to 3,350 in the three months before, and 2,600 in the first three months last year. However, fewer of those laid off in the last quarter of 2012 were able to find jobs within six months — 49 per cent, compared to 57 per cent in the third quarter of last year. Of those, three in four were PMETs, and two in three were aged 40 and above.
Unemployment in the first quarter remained low at 1.9 per cent, up from 1.8 per cent in the previous quarter. The unemployment rate was unchanged at 2.9 per cent for Singaporeans. Unemployment was highest for those aged 30 and below at 5.3 per cent, up from 4.7 per cent a year ago.
*Article first appeared on http://www.todayonline.com/singapore/more-job-vacancies-unemployment-stays-low-first-quarter