While Singapore’s economy might have bottomed out, experts say there is still a long way to go before the job situation returns to normal. — TODAY pic
The overall unemployment rate hit 3.6 per cent in September after seasonal adjustments, the highest since September 2003 during the severe acute respiratory syndrome outbreak. Some companies may not even survive as the pandemic drags on. If that happens, retrenchment rates may still climb higher, said Ling.
Only when other indicators such as median incomes and gross domestic product consistently point towards recovery can Singapore be sure that it is on the road to recovery, he said. Why are there so many unfilled jobs, especially at a time when the resident unemployment rate is 4.5 per cent? The aim of these training programmes is allow entry-level jobseekers to pick up job experience and help mid-career switchers pick up new skills and try out a new industry.