home  |  about Firth Ross Martin  |  global market news  |  Singapore witnesses 2010 surge in employment

global market news

Singapore witnesses 2010 surge in employment

16 March 2011
Singapore witnesses 2010 surge in employmentThe number of jobs created in Singapore last year was much higher than during 2009, an official report claims.

Latest statistics from the Ministry of Manpower reveal there were 115,900 roles generated in 2010, a total rate of 3.9 per cent for the year.

Employment growth significantly outstripped the previous 12 months, when it was affected by the global downturn and stood at 37,600 (1.3 per cent).

In addition, 2010 saw earnings for workers in Singapore increase, as well as labor productivity rise and output expand.

During the fourth quarter of the year, the pace of recruitment sped up, with 33,900 jobs created, compared with 20,500 in the three months to September.

The services sector accounted for 111,000 of the new opportunities during 2010, while construction firms provided 2,500 positions and manufacturing witnessed a decline in its workforce.

Both local and foreign employment climbed last year, with more than 1.992 million local employees and over 1.113 million foreigners in the state.

The Ministry of Manpower has revealed details of increases to foreign worker levy rates following strong economic growth that will come into force from January 2012.

Posted by Kate GriffinADNFCR-1275-ID-800464913-ADNFCR