Here are latest labor market trends for Singapore from Q3 2014

1. talent market update
Singapore Q3 2014
RESIDENT UNEMPLOYMENT RATE
REMAINED UNCHANGED AT
2.8%
990MORE REDUNDANCIES
THAN IN Q2 2014
3.6%MORE PEOPLE EMPLOYED
IN SEPTEMBER 2014 THAN
SEPTEMBER 2013
CITIZEN UNEMPLOYMENT RATE
REMAINED UNCHANGED AT
2.9%
UNEMPLOYMENT RATE REMAINED LOW AMIDST TIGHT LABOUR MARKET /
Overall seasonally adjusted unemployment rate remained steady at 1.9% between
Q2 and Q3 of 2014, as did the resident and citizen unemployment rates. Total
employment grew by 27,100 roles, which was only marginally fewer than the 27,700
recorded for Q2 but considerably lower than the 33,100 recorded for Q3 2013.
There were 3.577 million people employed in September, 3.6% more than recorded
in the same month last year.
Sources: www.mom.gov.sg
www.todayonline.com
read more

2. 2
Unemployment continued its downward
trend from July to September (Q3), with
total unemployment rates falling from
2.0% in June 2014 to 1.9% in September.
However, the rates for residents and
citizens remained steady at 2.8% and 2.9%,
respectively. This left approximately 52,600
residents, including 46,700 Singapore
citizens, unemployed in September 2014.
The services sector experienced the
highest employment gains in Q3 2014,
with 23,500 people newly employed in
services roles. The construction sector
grew by 3,400 roles, although this was
notably lower than the 10,700 new roles
recorded in the same quarter last year.
Manufacturing remained almost static, with
only 300 new roles – substantially fewer
than the 3,300 recorded in Q3 2013.
Singapore quarterly employment change and unemployment rates
Source: Ministry of Manpower, Singapore
0
20
40
60
80
Sep2013
Jun2013
Dec2013
Mar2014
Jun2014
Sep2014
Mar2013
Dec2012
Sep2012
Jun2012
Mar2012
Dec2011
Sep2011
Jun2011
Mar2011
Dec2010
Sep2010
Employment(000s)
2.0
2.5
3.0
3.5
4.0
Unmployment(%)
Employment Resident unempoymentCitizen unempoyment

3. 3
Singapore’s economy grew by 5.8%
between Q3 2013 and Q3 2014, and
the latest labour market figures show the
employment market in similarly good health.
There were 3,577,000 people employed in
September 2014. This was 3.6% higher than
in the same month last year, but lower than
the 3.8% increase recorded in June 2014.
Employment grew by 27,100 roles in the third
quarter. This rate of growth was similar to that
reported for Q2, but lower than the 33,100
roles reported for the same quarter in 2013.
Redundancy levels rose in Q3 2014, which
the Ministry of Manpower suggests reflects
the impact of restructuring in certain
industries. In total, 3,400 workers were
made redundant, which is a substantial
increase on the 2,410 redundancies recorded
in Q2. The services sector experienced
1,900 redundancies, representing 56%
of the total number of redundancies.
The manufacturing sector accounted for
38%, with 1,300 redundancies, while the
construction sector represented 5.9%,
experiencing 200 redundancies.
Redundancies Total employment changeTotal unemployment rate
Q22013
Q32013
Q42013
Q22014
Q12014
Q32014
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Q22013
Q32013
Q42013
Q22014
Q12014
1.6%
1.5%
1.7%
1.8%
1.9%
2.0%
2.1%
2.2%
2.3%
2.4%
2.5%
Q22013
Q32013
Q42013
Q22014
Q32014
Q12014
0
10
20
30
40
50
60
Q22013
Q32013
Q42013
Q22014
Q12014
Q32014
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Q22013
Q32013
Q42013
Q22014
Q12014
1.6%
1.5%
1.7%
1.8%
1.9%
2.0%
2.1%
2.2%
2.3%
2.4%
2.5%
Q22013
Q32013
Q42013
Q22014
Q32014
Q12014
0
10
20
30
40
50
60
Q22013
Q32013
Q42013
Q22014
Q12014
Q32014
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Q22013
Q32013
Q42013
Q22014
Q12014
1.6%
1.5%
1.7%
1.8%
1.9%
2.0%
2.1%
2.2%
2.3%
2.4%
2.5%
Q22013
Q32013
Q42013
Q22014
Q32014
Q12014
0
10
20
30
40
50
60
Source: Ministry of Manpower, Singapore

4. 4
Neighbour Malaysia has shot up to second place.
Singapore trails behind other key Asian countries when it comes to
gender parity in the workplace, the Gender Diversity Benchmark for
Asia 2014 revealed today.
The report, sponsored mainly by the Bank of America Merrill Lynch,
showed that Singapore’s workplace gender equality had fallen to the
bottom half in a list of six key Asian markets including Malaysia, Hong
Kong, China, Japan, and India.
Singapore ranks fourth in Asia on all indicators, including the average
representation of women in the total workforce (48.2%), as well as at
junior, middle and senior levels.
Although the companies in Singapore are achieving gender parity at
junior levels (58.5%), other markets have caught up quickly, pulling
the country down from second place when the survey was last
conducted in 2011.
At middle levels, Singapore’s average representation of women is
40.6%, however, it drops to 23.7% at senior levels, lower than the
regional average of 24.3%.
“Much more needs to be done and performance varies across the
region. Women continue to be under-represented at senior levels in
organisations and we need to continue to address this.
Source: Singapore Business Review
Date: 19 September 2014
The first meeting for the newly-created SkillsFuture Council took place
today to begin developing an integrated systems of education, training
and career progression for Singaporeans.
The council is chaired by Deputy Prime Minister Tharman
Shanmugaratnam, and was formally announced by Prime Minister Lee
Hsien Loong earlier this year as a means to promote industry support
for Singaporean workers to advance in their careers based on skills, and
a fostered culture of continuous learning.
“Our future must be about mastery of skills, in every job, and enabling
every Singaporean to develop themselves to the fullest,” said Tharman.
“We are going to put full effort into this, and it involves everyone –
Government, employers, unions and all of us as individuals.”
1. Help individuals to make well-informed choices in education,
training and careers
The council will guide the development of a full system to help
individuals make choices in education, training and their careers,
starting from educational counselling in schools and extending
throughout a person’s working life.
It will foster collaboration between the Government, industry, and
institutions, to provide individuals with exposure to a wide range of
occupations and industries from young, and ongoing information on
the changing needs of the labour market.
Source: Human Resources Online
Date: 5 November 2014
Singapore trails behind other Asian countries on
workplace gender equality
The SkillsFuture Council starts work to boost
Singaporeans’ careersEmployment
market wrap
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