Singapore residents’ employment rate is above pre-pandemic levels, but labor market still affected by COVID-19: MOM


INCREASING EMPLOYMENT RATES THROUGHOUT THE DEMOGRAPHY

The employment rate for residents aged 15 and over in June 2021 was 67.2%, down from 64.5% last June and also above the 65.2% reported in June 2019.

“This reflects the economic recovery and the impact of measures such as the SGUnited Jobs and Skills Package, the Employment Support Program and the incentive for job growth in the labor market.” , MOM said.

More than 146,000 people had been placed in jobs or secondment and training opportunities under the SGUnited Jobs and Skills Package by the end of September this year.

The job growth incentive program, which helps employers develop local hiring, helped 58,000 businesses hire more than 400,000 locals between September 2020 and May 2021.

Employment rates have increased in all demographic profiles.

The employment rate for young people aged 15 to 24 stood at 37.2% in June, up from 30.9% a year earlier, with “more students in part-time or temporary work,” said declared MOM.

For residents aged 25 to 64, the employment rate was 81.8%, ahead of the 80.3% reported in 2020. Men in this age group saw an increase of 87.9% in 88.9 percent, while the rate for women rose to 75.1 percent from 73.2 percent.

“Supported by sustained efforts to increase the employability of older people, such as the Grant for Workers Over 65, the employment rate of people aged 65 and over rose to 28.5% in June of last year despite the recession, and continued to increase at a faster pace. at 31.7% in June 2021, ”MOM said.

Among resident employees, 88 percent held permanent positions, with the number of such employees increasing by 50,900.

The percentage of employees on fixed-term contracts reached a new high of 8.4% due to economic uncertainty and demand for temporary workers linked to the pandemic. As of June, that number was 7.3 percent.