Labour market expected to rebound amid weak, uneven recovery: MAS

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Labour market expected to rebound amid weak, uneven recovery: MAS_sg

MAS expects firms in these sectors to have recalled their employees back to work to meet the rise in demand. Many of these workers were placed on shortened work weeks or temporary layoffs during the height of the"circuit-breaker" measures instead of being retrenched.

The downturn in these sectors will have spillover effects to the rest of the economy and weigh on segments directly dependent on them. For example, taxis and private-hire car services will see"sizeable" income shortfalls from the dearth of international travellers. Consumers could switch to goods like laptops and computers that allow them to engage in home entertainment as well as order groceries and merchandise online. But this is unlikely to generate enough labour demand to compensate for the falloff in labour-intensive sectors.

The labour market could also be affected by the impact as well as the tapering of government interventions. Even in better-performing industries, job growth could ease, as government incentives in 2020 could have swayed firms to bring forward their hiring plans.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

COVID-19 downturn to be more prolonged than past recessions, slow recovery for jobs market: MASSINGAPORE: The ongoing economic crisis caused by the COVID-19 pandemic is “deeper and likely to be more protracted” than past recessions, the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »