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- wong chee tat :)
Showing posts with label older workers. Show all posts
Showing posts with label older workers. Show all posts
Wednesday, February 26, 2014
Tuesday, September 3, 2013
More job opportunities expected with Changi's Terminal 5
More job opportunities expected with Changi's Terminal 5
By Dylan Loh
POSTED: 30 Aug 2013 11:34 PM
Singapore's Economic Development Board (EDB) said good job opportunities are expected with Changi Airport's expansion plans. However, the board said it is not just about that, as what is important is also enabling the aviation industry to be more productive.
SINGAPORE: Singapore's Economic Development Board (EDB) said good job opportunities are expected with Changi Airport's expansion plans.
However, the board said it is not just about that, as what is important is also enabling the aviation industry to be more productive.
Observers added that the airport expansion means positive spin-offs for Singapore in business and tourism-related areas.
With transport links to the region set to be improved with the air hub's future plans, more businesses may be lured into setting up shop in Singapore.
Lim Kok Kiang, executive director of transport engineering with the EDB, said: "An increasing number of third-party logistics providers and air express companies have chosen Singapore as their base to manage their growing Asian demand. And this due to primarily our strategic location."
Observers said plans to site Terminal 5 close to aviation and aerospace businesses is a good move that will draw investments to grow the sectors.
Beyond that, experts added that improved connectivity will likely boost Singapore's position as a cargo and logistics hub.
Selena Ling, head of treasury research and strategy at OCBC Bank, said: "When foreigners come and invest in Singapore, they will not only look at cost, or even manpower availability, they will also look at the efficiency of the infrastructure. Especially, how easy and affordable it is to get people and also goods in and out of the country."
Tourism-wise, economists estimate that Singapore can see in excess of 20 million visitors per year with a larger air hub.
Within Southeast Asia, airports in Kuala Lumpur and Bangkok are gunning to service 100 million passengers every year. Singapore's plans for airport expansion will take it well beyond that number -- spelling opportunities galore for the country.
However to seize the opportunities, experts said that expanding an airport is not enough. They said Singapore will have to continually market itself as a must-visit destination for tourists.
- CNA/ac
- wong chee tat :)
By Dylan Loh
POSTED: 30 Aug 2013 11:34 PM
Singapore's Economic Development Board (EDB) said good job opportunities are expected with Changi Airport's expansion plans. However, the board said it is not just about that, as what is important is also enabling the aviation industry to be more productive.
SINGAPORE: Singapore's Economic Development Board (EDB) said good job opportunities are expected with Changi Airport's expansion plans.
However, the board said it is not just about that, as what is important is also enabling the aviation industry to be more productive.
Observers added that the airport expansion means positive spin-offs for Singapore in business and tourism-related areas.
With transport links to the region set to be improved with the air hub's future plans, more businesses may be lured into setting up shop in Singapore.
Lim Kok Kiang, executive director of transport engineering with the EDB, said: "An increasing number of third-party logistics providers and air express companies have chosen Singapore as their base to manage their growing Asian demand. And this due to primarily our strategic location."
Observers said plans to site Terminal 5 close to aviation and aerospace businesses is a good move that will draw investments to grow the sectors.
Beyond that, experts added that improved connectivity will likely boost Singapore's position as a cargo and logistics hub.
Selena Ling, head of treasury research and strategy at OCBC Bank, said: "When foreigners come and invest in Singapore, they will not only look at cost, or even manpower availability, they will also look at the efficiency of the infrastructure. Especially, how easy and affordable it is to get people and also goods in and out of the country."
Tourism-wise, economists estimate that Singapore can see in excess of 20 million visitors per year with a larger air hub.
Within Southeast Asia, airports in Kuala Lumpur and Bangkok are gunning to service 100 million passengers every year. Singapore's plans for airport expansion will take it well beyond that number -- spelling opportunities galore for the country.
However to seize the opportunities, experts said that expanding an airport is not enough. They said Singapore will have to continually market itself as a must-visit destination for tourists.
- CNA/ac
- wong chee tat :)
Sunday, August 18, 2013
Rich World’s Biggest Jobs Growth Nears End in Singapore
Rich World’s Biggest Jobs Growth Nears End in Singapore
By Sharon Chen - Aug 16, 2013 4:55 PM GMT+0800
Tony Cousens spent more than S$100,000 ($79,000) to find waiters and housekeepers for the Ramada and Days Hotels in Singapore. Months after the two establishments opened, he is still about 100 people short.
Cousens’s plight underscores the new reality for an economy that probably delivered the biggest employment surge among 33 advanced economies in the decade to 2014, according to data compiled by Bloomberg. Singapore’s annual jobs growth may halve in the coming years from a 2007 peak as the island widens a clampdown on foreign workers, Bank of America Corp. estimates.
“This tightening of the foreign-labor market won’t go away,” said Cousens, general manager of the two hotels in the city that charge as much as S$320 a night. Jobs take longer to fill, “especially if you’re very demanding on the culture and the behavior of the individuals and specifying Singaporeans,” he said.
The shortage is set to worsen as Prime Minister Lee Hsien Loong pursues a four-year campaign to reduce the reliance on foreign workers, whose growing presence pushed up home prices and spurred a voter backlash. The government may tighten rules on hiring non-Singaporean medium-skilled workers after previous measures restricted cheap overseas labor, according to DBS Group Holdings Ltd. (DBS), Mizuho Bank Ltd. and Bank of America.
Foreigner Influx
An estimated 58.4 percent of Singapore’s population will be employed in 2014 compared with 49.5 percent in 2004, the largest increase among the 33 markets, according to an analysis by Bloomberg Rankings. The study divided the number of working people in each country by its population, based on data from the International Monetary Fund.
“The jump in employment stems from the fact that the government essentially opened the floodgates and welcomed foreign talent with open arms,” said Michael Wan, a Singapore-based economist at Credit Suisse Group AG. “I expect employment to start to slow over the next few years” as the most onerous tightening measures take effect in 2014 and 2015, he said.
Singapore will probably add about 100,000 jobs annually in the coming years, down from a record 234,900 in 2007, said Chua Hak Bin, a Singapore-based economist at Bank of America. Government statistics show a 10.1 percentage-point increase in the employment ratio for its total population from 2004 to 2012, compared with a 8.98 percentage-point gain from 2004 to 2014, based on IMF projections.
The Manpower Ministry said employment climbed in the past decade because of the city’s efforts to build a conducive environment for both global and local companies, which created job opportunities.
Worker Upgrades
“We recognize that our employment rates will not increase indefinitely,” the ministry said in an e-mailed response to queries. “Like many developed economies, our population is aging, which means that our local workforce will grow more slowly.” The ministry said it will upgrade workers and keep unemployment low.
Malta was ranked No. 2 with an estimated 5.58 percentage-point increase in the employment ratio in the 10 years to 2014, followed by Taiwan’s 5.24 percentage-point gain, the data compiled by Bloomberg showed.
The growth in Singapore’s workforce will slow to 1 percent to 2 percent a year through 2020, from an average 3.3 percent in the past three decades, the government said in January.
Lee is trying to steer the economy through an aging population and the declining foreign-labor supply by prodding companies to produce more with less manpower and hire older Singaporeans, as well as increasing the birth rate. The need to address those challenges while balancing demands for affordable housing, better public transportation and assistance with living costs have often featured in his speeches.
National Speech
Lee is due to make his annual televised National Day Rally speech to the nation on Aug. 18.
Singapore’s exports fell the least in six months in July, declining 0.7 percent from a year earlier, a report showed today. Elsewhere in Asia, Sri Lanka held interest rates. Taiwan’s economy grew a revised 2.49 percent last quarter from a year earlier, exceeding economists’ estimates, and Hong Kong’s expanded 3.3 percent.
The European Union’s statistics office will probably say euro-area inflation in July was in line with an initial estimate of 1.6 percent, while the U.S. may report housing starts climbed in July to an annualized rate of 900,000, Bloomberg surveys showed.
Higher Levies
Under the latest labor-market tightening measures announced in February, companies must pay higher levies for lower-skilled foreign employees over the next two years and cut the proportion of overseas workers in some industries.
“Choking the supply of all these low-wage foreign workers is creating difficulties for many companies, corporates and also, it is inflationary,” said Irvin Seah, an economist at DBS. “They have already been shifting the focus of the tightening towards the mid-skilled foreign workers,” he said, adding it will remain the direction in coming years.
The city’s unemployment fell to a five-year low in the last quarter of 2012 as companies hired more local workers.
Further tightening will lead to an “incremental increase in time to fill mid-level positions, and likely increased pressure on wages,” said Bhavya Sehgal, Asia-Pacific head of research at Frontier Strategy Group. “Many multinationals still import ‘ready-made’ mid-level professional talent rather than investing to close skill gaps in local talent.”
Talent Pipeline
Responding to feedback from Singaporeans that some companies are choosing to give jobs to foreigners over locals, Deputy Prime Minister Tharman Shanmugaratnam and Acting Minister of Manpower Tan Chuan-Jin met with senior management in a number of financial institutions to emphasize that they should make a concerted effort to develop a local talent pipeline, Tan said in Parliament in March.
“In terms of addressing some of the frustrations and fears, I think it’s really the mid- and upper-mid” skilled jobs the government will target with restrictions, said Vishnu Varathan, an economist at Mizuho in Singapore. “The tightening in the low-wage and lower-skilled sector, part of it stems from their productivity drive rather than the fact that Singaporeans are hankering for such jobs.”
That shift may be an obstacle for David Soon, head of a Taipei-based industrial computer manufacturer’s Singapore office, who hired foreigners this month for two sales positions he had advertised in May, offering a monthly pay of S$2,600 to S$2,800.
“For every one local application, we have 50-plus foreigners that are applying,” Soon said. “The local graduates really feel that if they have a choice they would work for big multinational companies like Hewlett-Packard (HPQ), IBM -- as for the rest, they probably would not even want to bother.”
To contact the reporter on this story: Sharon Chen in Singapore at schen462@bloomberg.net
To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net
- wong chee tat :)
By Sharon Chen - Aug 16, 2013 4:55 PM GMT+0800
Tony Cousens spent more than S$100,000 ($79,000) to find waiters and housekeepers for the Ramada and Days Hotels in Singapore. Months after the two establishments opened, he is still about 100 people short.
Cousens’s plight underscores the new reality for an economy that probably delivered the biggest employment surge among 33 advanced economies in the decade to 2014, according to data compiled by Bloomberg. Singapore’s annual jobs growth may halve in the coming years from a 2007 peak as the island widens a clampdown on foreign workers, Bank of America Corp. estimates.
“This tightening of the foreign-labor market won’t go away,” said Cousens, general manager of the two hotels in the city that charge as much as S$320 a night. Jobs take longer to fill, “especially if you’re very demanding on the culture and the behavior of the individuals and specifying Singaporeans,” he said.
The shortage is set to worsen as Prime Minister Lee Hsien Loong pursues a four-year campaign to reduce the reliance on foreign workers, whose growing presence pushed up home prices and spurred a voter backlash. The government may tighten rules on hiring non-Singaporean medium-skilled workers after previous measures restricted cheap overseas labor, according to DBS Group Holdings Ltd. (DBS), Mizuho Bank Ltd. and Bank of America.
Foreigner Influx
An estimated 58.4 percent of Singapore’s population will be employed in 2014 compared with 49.5 percent in 2004, the largest increase among the 33 markets, according to an analysis by Bloomberg Rankings. The study divided the number of working people in each country by its population, based on data from the International Monetary Fund.
“The jump in employment stems from the fact that the government essentially opened the floodgates and welcomed foreign talent with open arms,” said Michael Wan, a Singapore-based economist at Credit Suisse Group AG. “I expect employment to start to slow over the next few years” as the most onerous tightening measures take effect in 2014 and 2015, he said.
Singapore will probably add about 100,000 jobs annually in the coming years, down from a record 234,900 in 2007, said Chua Hak Bin, a Singapore-based economist at Bank of America. Government statistics show a 10.1 percentage-point increase in the employment ratio for its total population from 2004 to 2012, compared with a 8.98 percentage-point gain from 2004 to 2014, based on IMF projections.
The Manpower Ministry said employment climbed in the past decade because of the city’s efforts to build a conducive environment for both global and local companies, which created job opportunities.
Worker Upgrades
“We recognize that our employment rates will not increase indefinitely,” the ministry said in an e-mailed response to queries. “Like many developed economies, our population is aging, which means that our local workforce will grow more slowly.” The ministry said it will upgrade workers and keep unemployment low.
Malta was ranked No. 2 with an estimated 5.58 percentage-point increase in the employment ratio in the 10 years to 2014, followed by Taiwan’s 5.24 percentage-point gain, the data compiled by Bloomberg showed.
The growth in Singapore’s workforce will slow to 1 percent to 2 percent a year through 2020, from an average 3.3 percent in the past three decades, the government said in January.
Lee is trying to steer the economy through an aging population and the declining foreign-labor supply by prodding companies to produce more with less manpower and hire older Singaporeans, as well as increasing the birth rate. The need to address those challenges while balancing demands for affordable housing, better public transportation and assistance with living costs have often featured in his speeches.
National Speech
Lee is due to make his annual televised National Day Rally speech to the nation on Aug. 18.
Singapore’s exports fell the least in six months in July, declining 0.7 percent from a year earlier, a report showed today. Elsewhere in Asia, Sri Lanka held interest rates. Taiwan’s economy grew a revised 2.49 percent last quarter from a year earlier, exceeding economists’ estimates, and Hong Kong’s expanded 3.3 percent.
The European Union’s statistics office will probably say euro-area inflation in July was in line with an initial estimate of 1.6 percent, while the U.S. may report housing starts climbed in July to an annualized rate of 900,000, Bloomberg surveys showed.
Higher Levies
Under the latest labor-market tightening measures announced in February, companies must pay higher levies for lower-skilled foreign employees over the next two years and cut the proportion of overseas workers in some industries.
“Choking the supply of all these low-wage foreign workers is creating difficulties for many companies, corporates and also, it is inflationary,” said Irvin Seah, an economist at DBS. “They have already been shifting the focus of the tightening towards the mid-skilled foreign workers,” he said, adding it will remain the direction in coming years.
The city’s unemployment fell to a five-year low in the last quarter of 2012 as companies hired more local workers.
Further tightening will lead to an “incremental increase in time to fill mid-level positions, and likely increased pressure on wages,” said Bhavya Sehgal, Asia-Pacific head of research at Frontier Strategy Group. “Many multinationals still import ‘ready-made’ mid-level professional talent rather than investing to close skill gaps in local talent.”
Talent Pipeline
Responding to feedback from Singaporeans that some companies are choosing to give jobs to foreigners over locals, Deputy Prime Minister Tharman Shanmugaratnam and Acting Minister of Manpower Tan Chuan-Jin met with senior management in a number of financial institutions to emphasize that they should make a concerted effort to develop a local talent pipeline, Tan said in Parliament in March.
“In terms of addressing some of the frustrations and fears, I think it’s really the mid- and upper-mid” skilled jobs the government will target with restrictions, said Vishnu Varathan, an economist at Mizuho in Singapore. “The tightening in the low-wage and lower-skilled sector, part of it stems from their productivity drive rather than the fact that Singaporeans are hankering for such jobs.”
That shift may be an obstacle for David Soon, head of a Taipei-based industrial computer manufacturer’s Singapore office, who hired foreigners this month for two sales positions he had advertised in May, offering a monthly pay of S$2,600 to S$2,800.
“For every one local application, we have 50-plus foreigners that are applying,” Soon said. “The local graduates really feel that if they have a choice they would work for big multinational companies like Hewlett-Packard (HPQ), IBM -- as for the rest, they probably would not even want to bother.”
To contact the reporter on this story: Sharon Chen in Singapore at schen462@bloomberg.net
To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net
- wong chee tat :)
Tuesday, August 6, 2013
Higher rentals push up prices at some coffee joints
Higher rentals push up prices at some coffee joints
POSTED: 06 Aug 2013 6:08 AM
At least three coffee joints here have recently raised prices, citing rising operational costs, especially rentals.
SINGAPORE: At least three coffee joints here have recently raised prices, citing rising operational costs, especially rentals.
The move comes as the chain operator of S11 coffeeshops increased its drink prices by 10 cents across all 15 outlets at the start of June.
Ya Kun raised prices by 10 to 20 cents starting July 27, citing escalating operating costs leading to a "juncture whereby a price revision is inevitable", said a notice posted at storefronts dated June 26.
A cup of coffee at Ya Kun now costs S$1.60 instead of S$1.50.
The coffee chain's rising operational costs came from "a bit of everything", said Mr Adrin Loi, Executive Chairman of Ya Kun. Rental accounts for the bulk of costs at the chain's 44 Ya Kun outlets, followed by raw material and manpower.
Mr Loi said labour costs have gone up as workers working more than 44 hours a week are paid an overtime rate of 1.5 times their hourly rate, and the Foreign Worker Levy has also increased.
The chain also had to pay its staff higher salaries to remain competitive in a tight labour market. It had previously said it plans to hire more retirees and housewives to fuel its expansion to 100 outlets by 2015.
"Sometimes, we bear the costs … we control the price. But at the end of the day, the worker will be affected. We cannot give them better rewards, and we want to reward our staff who perform well," Mr Loi said.
Old Town White Coffee, which has eight outlets here, is in the middle of a revamp involving renovations and menu changes. TODAY understands that this will translate to an increase in prices, of not more than 50 cents, at four outlets - City Square Mall, JCube, Orchard Cineleisure and Square 2 - that have been upgraded in recent months.
The upgrading for a "fresher and more contemporary ambience" is part of the company's strategy to retain customers and, hence, manage rising costs, said Ms Dawn Liew, General Manager of Kopitiam Asia Pacific, which manages the Old Town outlets in Singapore.
"Rising costs are part and parcel of doing business and this spreads across an array of items. In saying that, rentals are becoming a lot steeper," she said.
The Coffee Bean and Tea Leaf also raised its prices,by 10 or 20 cents, two months ago, but only for food items.
Prices at Starbucks, Wang Cafe, Spinelli Coffee Company and Toast Box remain the same.
-TODAY
- wong chee tat :)
POSTED: 06 Aug 2013 6:08 AM
At least three coffee joints here have recently raised prices, citing rising operational costs, especially rentals.
SINGAPORE: At least three coffee joints here have recently raised prices, citing rising operational costs, especially rentals.
The move comes as the chain operator of S11 coffeeshops increased its drink prices by 10 cents across all 15 outlets at the start of June.
Ya Kun raised prices by 10 to 20 cents starting July 27, citing escalating operating costs leading to a "juncture whereby a price revision is inevitable", said a notice posted at storefronts dated June 26.
A cup of coffee at Ya Kun now costs S$1.60 instead of S$1.50.
The coffee chain's rising operational costs came from "a bit of everything", said Mr Adrin Loi, Executive Chairman of Ya Kun. Rental accounts for the bulk of costs at the chain's 44 Ya Kun outlets, followed by raw material and manpower.
Mr Loi said labour costs have gone up as workers working more than 44 hours a week are paid an overtime rate of 1.5 times their hourly rate, and the Foreign Worker Levy has also increased.
The chain also had to pay its staff higher salaries to remain competitive in a tight labour market. It had previously said it plans to hire more retirees and housewives to fuel its expansion to 100 outlets by 2015.
"Sometimes, we bear the costs … we control the price. But at the end of the day, the worker will be affected. We cannot give them better rewards, and we want to reward our staff who perform well," Mr Loi said.
Old Town White Coffee, which has eight outlets here, is in the middle of a revamp involving renovations and menu changes. TODAY understands that this will translate to an increase in prices, of not more than 50 cents, at four outlets - City Square Mall, JCube, Orchard Cineleisure and Square 2 - that have been upgraded in recent months.
The upgrading for a "fresher and more contemporary ambience" is part of the company's strategy to retain customers and, hence, manage rising costs, said Ms Dawn Liew, General Manager of Kopitiam Asia Pacific, which manages the Old Town outlets in Singapore.
"Rising costs are part and parcel of doing business and this spreads across an array of items. In saying that, rentals are becoming a lot steeper," she said.
The Coffee Bean and Tea Leaf also raised its prices,by 10 or 20 cents, two months ago, but only for food items.
Prices at Starbucks, Wang Cafe, Spinelli Coffee Company and Toast Box remain the same.
-TODAY
- wong chee tat :)
Monday, July 1, 2013
Eurozone crisis cools, but unemployment hits record
Eurozone crisis cools, but unemployment hits record
POSTED: 01 Jul 2013 6:50 PM
The eurozone unemployment rate rose to a previous record-high of 12.1 percent in May, official data showed on Monday, days after EU leaders promised action against the jobless crisis at a summit in Brussels.
BRUSSELS: The economic crisis in southern Europe may be easing, a key survey signalled on Monday, but unemployment figures showed the eurozone jobless rate hit a previous record-high of 12.1 percent in May.
The Eurostat figures offered little hope of a quick end to the social fallout from austerity seen in many countries, with the unemployment rate for the entire European Union being unchanged at 10.9 percent.
Provisional official data in Italy showed the unemployment rate rising to a record high level of 12.2 percent, an increase of 0.2 points from the April level and 1.8 percentage points higher over 12 months.
EU leaders agreed to deploy up to 8.0 billion euros ($10.4 billion) in programmes to fight youth unemployment at a summit in Brussels last week after US President Barack Obama warned of the risk of a "lost generation" in Europe.
The Eurostat report, which revised previous figures, showed the eurozone rate reached 12.1 percent in March, then inched down to 12.0 percent in April -- a slight improvement that ended two years of increases -- before rising again in May.
The results were far worse than in May of last year, when eurozone unemployment was at 11.3 percent and the EU jobless rate at 10.4 percent.
For under-25s the picture was even worse, with the rate for the eurozone rising to 23.0 percent for the EU as a whole from 22.8 percent in May 2012 and to 23.8 percent for the eurozone from 23.0 percent over the same period.
Eurostat said 26.4 million men and women in the EU are now out of work.
There were wide differences between EU members, however, with unemployment actually decreasing in May in 10 countries on a 12-month comparison.
The best results were in Latvia, where the rate fell to 12.4 percent from 15.5 percent and Estonia, where it went down to 8.3 percent from 10.0 percent.
The worst was Cyprus, an island nation that has been plunged into a banking crisis over the past year that has drastically cut down its financial sector and where the jobless rate rose to 16.3 percent in May 2013 from May 2012.
Unemployment data is a lagging indicator, and in a separate set of figures, however, eurozone manufacturing showed signs of continued improvement in June.
The Markit Eurozone Composite Purchasing Managers Index, a survey of what businesses see happening in their production processes, rose to 48.8 in June -- a 16-month high -- from 48.3 in May.
The PMI index is considered to be a reliable indicator of the future trend of activity.
Ireland saw an improvement and Spain remained stable, while the rates of contraction eased in Austria, France, Greece, Italy and the Netherlands.
"Strong improvements in Spain, Italy and France more than offset a mild German setback as exporters there struggle with weakness in China and competition from Japan," said Christian Schulz, an economist at Berenberg bank.
"On current trends, the end of recession in the crisis countries is approaching fast. Spain's manufacturing PMI left contraction territory for the first time since April 2011 and Italy was not far behind," he said.
The PMIs for Italy and Spain were higher than Germany's for the first time since the eurozone debt crisis reached its peak in 2011.
Meanwhile, William Jackson, the emerging markets economist at Capital Economics in London,said that the latest batch of "emerging European" PMI indicators for several countries in central Europe added "to the growing sense that things are improving in the region."
But he also commented: "Even so, we still expect the recovery to be pretty lacklustre."
- AFP/al
- wong chee tat :)
POSTED: 01 Jul 2013 6:50 PM
The eurozone unemployment rate rose to a previous record-high of 12.1 percent in May, official data showed on Monday, days after EU leaders promised action against the jobless crisis at a summit in Brussels.
BRUSSELS: The economic crisis in southern Europe may be easing, a key survey signalled on Monday, but unemployment figures showed the eurozone jobless rate hit a previous record-high of 12.1 percent in May.
The Eurostat figures offered little hope of a quick end to the social fallout from austerity seen in many countries, with the unemployment rate for the entire European Union being unchanged at 10.9 percent.
Provisional official data in Italy showed the unemployment rate rising to a record high level of 12.2 percent, an increase of 0.2 points from the April level and 1.8 percentage points higher over 12 months.
EU leaders agreed to deploy up to 8.0 billion euros ($10.4 billion) in programmes to fight youth unemployment at a summit in Brussels last week after US President Barack Obama warned of the risk of a "lost generation" in Europe.
The Eurostat report, which revised previous figures, showed the eurozone rate reached 12.1 percent in March, then inched down to 12.0 percent in April -- a slight improvement that ended two years of increases -- before rising again in May.
The results were far worse than in May of last year, when eurozone unemployment was at 11.3 percent and the EU jobless rate at 10.4 percent.
For under-25s the picture was even worse, with the rate for the eurozone rising to 23.0 percent for the EU as a whole from 22.8 percent in May 2012 and to 23.8 percent for the eurozone from 23.0 percent over the same period.
Eurostat said 26.4 million men and women in the EU are now out of work.
There were wide differences between EU members, however, with unemployment actually decreasing in May in 10 countries on a 12-month comparison.
The best results were in Latvia, where the rate fell to 12.4 percent from 15.5 percent and Estonia, where it went down to 8.3 percent from 10.0 percent.
The worst was Cyprus, an island nation that has been plunged into a banking crisis over the past year that has drastically cut down its financial sector and where the jobless rate rose to 16.3 percent in May 2013 from May 2012.
Unemployment data is a lagging indicator, and in a separate set of figures, however, eurozone manufacturing showed signs of continued improvement in June.
The Markit Eurozone Composite Purchasing Managers Index, a survey of what businesses see happening in their production processes, rose to 48.8 in June -- a 16-month high -- from 48.3 in May.
The PMI index is considered to be a reliable indicator of the future trend of activity.
Ireland saw an improvement and Spain remained stable, while the rates of contraction eased in Austria, France, Greece, Italy and the Netherlands.
"Strong improvements in Spain, Italy and France more than offset a mild German setback as exporters there struggle with weakness in China and competition from Japan," said Christian Schulz, an economist at Berenberg bank.
"On current trends, the end of recession in the crisis countries is approaching fast. Spain's manufacturing PMI left contraction territory for the first time since April 2011 and Italy was not far behind," he said.
The PMIs for Italy and Spain were higher than Germany's for the first time since the eurozone debt crisis reached its peak in 2011.
Meanwhile, William Jackson, the emerging markets economist at Capital Economics in London,said that the latest batch of "emerging European" PMI indicators for several countries in central Europe added "to the growing sense that things are improving in the region."
But he also commented: "Even so, we still expect the recovery to be pretty lacklustre."
- AFP/al
- wong chee tat :)
Tuesday, November 6, 2012
Singapore's F&B service sector reaches out to job seekers
Singapore's F&B service sector reaches out to job seekers
By Dylan Loh | Posted: 05 November 2012 1412 hrs
SINGAPORE: Singapore's food and beverage service sector hopes to get more Singaporeans to join the industry and make up the core of new hires to fill positions ranging from rank-and-file to managerial.
The Food & Beverage Managers' Association, with the support of Workforce Development Agency (WDA), held its first career clinic on Monday at VivoCity shopping mall.
The one-day clinic aimed to provide job seekers with insights into career and training opportunities within the sector.
The clinic had 10 participating organisations, ranging from hotels to restaurants.
Career opportunities available in the industry include positions such as chefs, bartenders and servers.
Outreach efforts like this "career clinic" are organised to let the public understand the opportunities available in the industry, and entice more to join up.
About three out of 10 positions in food-and-beverage outlets here are waiting to be filled.
There are some 6,000 food and beverage establishments in Singapore. The boom in the sector is expected to continue its momentum in the coming years, which means more job openings in future.
Minister of State for Manpower and Health, Dr Amy Khor, said: "We need to continue to publicise and let Singaporeans know that there are good quality jobs in the industry with good training opportunities and career pathways and prospects. Even if they start at the bottom at the shop floor for instance, they can progress upwards and that there are many opportunities."
Back-to-work women and older workers are among those the government hopes can supplement the sector's manpower needs.
The government is encouraging firms in the industry to implement more flexible and part-time work arrangements so more can be attracted to join.
Subsidies and assistance schemes are also in place to help companies improve productivity through process and job redesigns so firms can reduce their manpower requirements.
In addition, WDA will continue to support the sector with skills upgrading programmes to increase the number of higher skilled workers.
Such programmes have allowed some to make a career switch and join the food-and-beverage industry.
Anil Kumar's passion for food was enough to convince him to cross over from the mechanical industry.
The 41-year-old earned a pastry and bakery diploma under the Workforce Skills Qualifications programme.
Starting as an intern in 2008, Anil has worked at a few places before becoming a service captain at the restaurant where he now works.
"I got bored with the job that I was doing before because it was pretty much a work that doesn't bring me anywhere. And the fact that I love food, that was the reason why I crossed over from mechanic to the food and beverage industry," he said.
Cheong Hai Poh, who is president of Food and Beverage Managers' Association of Singapore, said there are opportunities in the industry to help workers fast-track their careers.
Mr Cheong said: "You can be fast-tracked if you are performing well. You can move from a waiter to a captain within one to two years, and from a captain to assistant manager. It depends on your own performance, knowledge and skill."
- CNA/xq/fa
- wong chee tat :)
By Dylan Loh | Posted: 05 November 2012 1412 hrs
SINGAPORE: Singapore's food and beverage service sector hopes to get more Singaporeans to join the industry and make up the core of new hires to fill positions ranging from rank-and-file to managerial.
The Food & Beverage Managers' Association, with the support of Workforce Development Agency (WDA), held its first career clinic on Monday at VivoCity shopping mall.
The one-day clinic aimed to provide job seekers with insights into career and training opportunities within the sector.
The clinic had 10 participating organisations, ranging from hotels to restaurants.
Career opportunities available in the industry include positions such as chefs, bartenders and servers.
Outreach efforts like this "career clinic" are organised to let the public understand the opportunities available in the industry, and entice more to join up.
About three out of 10 positions in food-and-beverage outlets here are waiting to be filled.
There are some 6,000 food and beverage establishments in Singapore. The boom in the sector is expected to continue its momentum in the coming years, which means more job openings in future.
Minister of State for Manpower and Health, Dr Amy Khor, said: "We need to continue to publicise and let Singaporeans know that there are good quality jobs in the industry with good training opportunities and career pathways and prospects. Even if they start at the bottom at the shop floor for instance, they can progress upwards and that there are many opportunities."
Back-to-work women and older workers are among those the government hopes can supplement the sector's manpower needs.
The government is encouraging firms in the industry to implement more flexible and part-time work arrangements so more can be attracted to join.
Subsidies and assistance schemes are also in place to help companies improve productivity through process and job redesigns so firms can reduce their manpower requirements.
In addition, WDA will continue to support the sector with skills upgrading programmes to increase the number of higher skilled workers.
Such programmes have allowed some to make a career switch and join the food-and-beverage industry.
Anil Kumar's passion for food was enough to convince him to cross over from the mechanical industry.
The 41-year-old earned a pastry and bakery diploma under the Workforce Skills Qualifications programme.
Starting as an intern in 2008, Anil has worked at a few places before becoming a service captain at the restaurant where he now works.
"I got bored with the job that I was doing before because it was pretty much a work that doesn't bring me anywhere. And the fact that I love food, that was the reason why I crossed over from mechanic to the food and beverage industry," he said.
Cheong Hai Poh, who is president of Food and Beverage Managers' Association of Singapore, said there are opportunities in the industry to help workers fast-track their careers.
Mr Cheong said: "You can be fast-tracked if you are performing well. You can move from a waiter to a captain within one to two years, and from a captain to assistant manager. It depends on your own performance, knowledge and skill."
- CNA/xq/fa
- wong chee tat :)
Monday, October 29, 2012
S'poreans unable to enjoy work-life balance: survey
S'poreans unable to enjoy work-life balance: survey
Posted: 29 October 2012 1112 hrs
SINGAPORE: Workers have identified overloading of work and high-pressure deadlines as the main reasons for not being able to achieve work-life balance in Singapore.
A recent survey on work-life balance in Singapore found that nearly nine out of 10 workers surveyed worked beyond their official hours.
Beyond working hours, 70 per cent chose to complete unfinished work in the office while the remaining 30 per cent chose to bring work home.
The survey by recruiter Jobstreet.com also found that only 30 per cent of the respondents claimed that their companies had initiatives in place to promote work-life balance.
45 per cent indicated that their companies pay lip service to work-life balance with policies in place just for show.
Respondents suggested corporate tax relief and enforcement of policies as steps that the government can take to encourage more companies to promote work-life balance at the workplace.
About 650 workers and 135 employers participated in the survey that was conducted in September.
- CNA/xq
- wong chee tat :)
Posted: 29 October 2012 1112 hrs
SINGAPORE: Workers have identified overloading of work and high-pressure deadlines as the main reasons for not being able to achieve work-life balance in Singapore.
A recent survey on work-life balance in Singapore found that nearly nine out of 10 workers surveyed worked beyond their official hours.
Beyond working hours, 70 per cent chose to complete unfinished work in the office while the remaining 30 per cent chose to bring work home.
The survey by recruiter Jobstreet.com also found that only 30 per cent of the respondents claimed that their companies had initiatives in place to promote work-life balance.
45 per cent indicated that their companies pay lip service to work-life balance with policies in place just for show.
Respondents suggested corporate tax relief and enforcement of policies as steps that the government can take to encourage more companies to promote work-life balance at the workplace.
About 650 workers and 135 employers participated in the survey that was conducted in September.
- CNA/xq
- wong chee tat :)
Saturday, May 21, 2011
44% of employers struggle to fill vacancies
44% of employers struggle to fill vacancies
ALMOST half of employers in Singapore have problems filling vacancies in their companies, according to a survey conducted by a human resource firm.
Up to 44 per cent of employers have found it difficult to fill critical positions, said ManpowerGroup in a press release on Friday.
Sales representatives and engineering talents were the hardest to recruit, and have topped the list for at least five years. They are followed by technicians and drivers.
Out of all employers interviewed, one-third felt that applicants tend to lack the skills and experience necessary for the job.
This signals an imbalance between the number of available workers in the workforce and the number of qualified workers.
When asked what strategies employers were pursuing to overcome their difficulties filling positions, the most common responses in Singapore were to enhance benefits packages, focusing more on staff retention and broadening recruitment outside of Singapore .
Close to 40,000 employers across 39 countries and territories were questioned in the survey.
Jobs most in demand in 2011 in Singapore
1. Sales Representative
2. Engineers
3. Technicians
4. Drivers
5. Accounting & Finance Staff
6. IT Staff
7. Skilled Trades
8. Customer Service Representatives & Customer Support
9. Labourers
10. Management / Executive (Management / Corporate)
Jobs most in demand in 2010 in Singapore
1. Sales Representative
2. Engineers
3. Production Operators
4. Teachers
5. Customer Service representatives & Customer Support
6. Drivers
7. Management/Executive (Management/Corporate)
8. IT staff
9. Sales Manager
10. Skilled Trades
- wong chee tat :)
Sunday, October 25, 2009
Employers urged to adopt fair wage system for older workers
Employers urged to adopt fair wage system for older workers
By Saifulbahri Ismail/Asha Popatlal, Channel NewsAsia
SINGAPORE : Manpower Minister Gan Kim Yong has urged companies to adopt a fair and equitable stance in dealing with workers' wages when they turn 60.
Mr Gan said employers should not simply reduce salaries by the maximum 10 per cent permitted by the law.
The practice of a pay cut of up to 10 per cent for older workers started some 10 years ago.
Then, it was meant to alleviate the costs associated with a seniority-based wage system, and help ease the burden on companies as the retirement age was raised progressively from 60 to the prevailing 62.
Recently, the labour movement said it wants to end this practice.
Speaking to reporters at a community event on Saturday, Mr Gan called on companies to consider installing a more flexible-based wage system.
He said: "They really should take into account whether the seniority wage system still exists in the company. They should also take into account reasonable factors such as the type of jobs that they are doing, the productivity of the workers and the performance of the workers."
The Manpower Minister also responded to feedback given by older workers who have raised concerns about the cut in employers' Central Provident Fund (CPF) contribution rate.
Upon turning 50, this is reduced from 14.5 per cent to 10.5 per cent. Those aged 60 receive 5 per cent, or a two-third reduction from the top rate.
Mr Gan explained this is necessary to enhance the employability of older workers.
He said: "If we were to raise the CPF now or restore the CPF for the older workers, it may adversely affect the employability of the older workers and affect the competitiveness of the company and eventually, it will not be to the advantage of our older workers."
The Manpower Ministry said the employment rate of older workers aged 55 to 64 has improved, up from 45 per cent in 2003 to 57 per cent at end-2008.
- CNA/ms
- wong chee tat :)
By Saifulbahri Ismail/Asha Popatlal, Channel NewsAsia
SINGAPORE : Manpower Minister Gan Kim Yong has urged companies to adopt a fair and equitable stance in dealing with workers' wages when they turn 60.
Mr Gan said employers should not simply reduce salaries by the maximum 10 per cent permitted by the law.
The practice of a pay cut of up to 10 per cent for older workers started some 10 years ago.
Then, it was meant to alleviate the costs associated with a seniority-based wage system, and help ease the burden on companies as the retirement age was raised progressively from 60 to the prevailing 62.
Recently, the labour movement said it wants to end this practice.
Speaking to reporters at a community event on Saturday, Mr Gan called on companies to consider installing a more flexible-based wage system.
He said: "They really should take into account whether the seniority wage system still exists in the company. They should also take into account reasonable factors such as the type of jobs that they are doing, the productivity of the workers and the performance of the workers."
The Manpower Minister also responded to feedback given by older workers who have raised concerns about the cut in employers' Central Provident Fund (CPF) contribution rate.
Upon turning 50, this is reduced from 14.5 per cent to 10.5 per cent. Those aged 60 receive 5 per cent, or a two-third reduction from the top rate.
Mr Gan explained this is necessary to enhance the employability of older workers.
He said: "If we were to raise the CPF now or restore the CPF for the older workers, it may adversely affect the employability of the older workers and affect the competitiveness of the company and eventually, it will not be to the advantage of our older workers."
The Manpower Ministry said the employment rate of older workers aged 55 to 64 has improved, up from 45 per cent in 2003 to 57 per cent at end-2008.
- CNA/ms
- wong chee tat :)
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