Latest figures from the Ministry of Manpower (MOM) show that there are fewer job losses and more job vacancies in the second quarter of this year.

5980 workers lost their jobs in the second quarter of 2009, but that’s almost half the number seen in the previous quarter this year.

The government said although total employment has continued to decline for the second consecutive quarter, this is in line with Singapore’s economic weakness, with foreign workers bearing the brunt of these job losses.

Job vacancies on the other hand rose by 17 per cent to reach 24,500 in June. There are now more job vacancies in relation to job seekers — with 33 job openings to 100 job seekers.

The ratio of job vacancies to unemployed persons has now climbed slightly from 31 to 33 openings per 100 job seekers. This is the first increase after five straight quarters of decline.

Although Singapore’s labour market is seeing fewer redundancies and more job openings, the government said the outlook for the current quarter is still uncertain, and that’s because companies still prefer to take a conservative approach.

"The labour market is likely to remain weak for the rest of the year and it is therefore important for us to press on with training and upgrading, so that we can get our workers to stay in employment," said Manpower Minister Gan Kim Yong.

Garment retailer and manufacturer Bodynits is one company that has continued to do so.

The 25-year-old Singapore-based company has sent about 80 staff for Workforce Skills Qualification training.

"We are very blessed in that our PMETs (Professionals, Managers, Executives and Technicians) are willing to take up courses. We found that people who come and join us in this industry from other companies may not share the same values, so we need retraining," said Bert Tan, executive director of Bodynits.

And with skills upgrading, the government hopes to boost national productivity, which has dropped to 6.3 per cent between April and June, easing from the 15 per cent contraction in first quarter 2009. — CNA /ls

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