Financial Times, 15 Jan 2009, Sumathi Bala
Singapore’s job market is looking gloomy as the global economic slowdown takes its toll on local industries’ hiring.
A recent survey reveals that more than half of bosses are planning to cut jobs in the first quarter of this year.
A Manpower employment outlook survey of 629 employers across seven industry sectors found that only 8 per cent intended to recruit, while 46 per cent expected to cut jobs. The rest had no plans to hire or fire, or had not made up their minds.
Net employment outlook – the percentage of employers looking to hire, minus those expecting a decrease in employment – now stands at 38 per cent for the January to March period, a sharp 54 per cent drop from the fourth quarter last year.
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