Job Numbers Turn Out Worse, Warns Full Effects Of Covid-19
Image Source Raj Nadarajan
Manpower Minister (MOM) Josephine Teo warned that the situation show in the first quarter was worse than the preliminary finding predicted in April. As the full effects of the Covid-19 crisis are likely to get worse.
Total employment excluding foreign domestic workers dropped by 25,600 which is 39 percent more than the previous record and even the ration of job vacancies to unemployed persons has called to a decade low of 0.71 as a comparison to the ration was closer to 1.9 for the whole 2019. IN other reports showed that 3,220 people where retrenched in the first quarter of this year compared to the 2,670 in the last quarter of 2019.
Mrs. Teo admitted that MOM is uncertain about how the second quarter will turn out, it is best for us to get ready and prepared for more job losses and we are trying our very best to open up more pathways for the job seekers.