The COVID-19 pandemic has caused an economic downturn, which inadvertently affects the job market in Singapore.
According to the Ministry of Manpower (MOM)’s Q1 2021 labour report released on June 17, Singapore’s total employment grew for the first time since the past four quarters, pointing to signs of continued recovery from Covid-19.
The report showed that the total employment, excluding foreign domestic workers, rose by 12,200 in the first quarter — this exceeded the preliminary estimate of 4,800 released in April.
More retrenched Singapore residents have also found jobs within six months, while job vacancies have risen to nearly match the unemployed population, according to the report.
While these figures are indeed an optimistic sign, experts predict a slow recovery in the job market. For 2021, they expect retrenchments to continue, especially among hardest-hit industries.
MOM also cautioned that Singapore is not out of the woods yet as unemployment rates remain high.
Moreover, economic uncertainties and the recent tightened measures from Phase 3 (heightened alert) restrictions are expected to impact the labour market recovery in the second quarter.
What to do if you lost your job?
Despite the gloomy outlook, the government has stepped up job support to aid job-seekers such as the setting up of SGUnited Jobs and Skills Centres and virtual career fairs.
The government has also created a Jobs Support Scheme coordinated through the National Jobs Council, which promises the creation of 100,000 jobs and training places.
With regards to the SGUnited Jobs and Skills Programme, the government and tripartite partners have helped 25,000 people link up with new opportunities as of July 2020. Of the remaining places available, there are over 47,000 jobs, 16,000 traineeships, and more than 10,000 training places.
For jobseekers who are unable to secure a job due to the weak labour market, attachments and training opportunities will be available for them to gain industry-relevant skills.
If you have been retrenched and need career assistance, you can register your interest in WSG’s Career Matching Services by filling in this online form.
WSG will then contact you to offer job assistance such as sending an online assistance package to help the retrenched get back into the workforce or arrange for a virtual career coaching session.
This infographic article is done in collaboration with Workforce Singapore.
Featured Image Credit: Wan Wei