Janus Analysis of New MOM Data Shows Singapore’s Job Outlook Healthy Heading into Second Half of 2012

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New statistics released by Singapore’s Ministry of Manpower show that the country’s jobs situation made a substantial leap in the second quarter of 2012 due to more employment creation combined with a decline in layoffs.

Janus Corporate Solutions

Singapore Company Incorporation

The economy is doing well, and it is convincing more entrepreneurs to establish a company in Singapore and contribute to jobs growth across the board.

According to the report, entitled “Employment Situation, Second Quarter 2012”, total employment was estimated to have grown by 29,200 in the second quarter of 2012. This growth in jobs was greater than previous numbers year-on-year (24,800 in Q2 2011), as well as quarter-on-quarter (27,200 in Q1 2012).

The biggest gains came in the construction and manufacturing industries. Construction jobs increased by 9,500, while manufacturing jobs grew by 4,500. Meanwhile, jobs in the services industry grew by only 15,500. It was a slight decline in growth, but overall service jobs still formed the majority of all employment gains in the quarter.

At the same time, the total number of layoffs in Singapore decreased to an estimated 2,300 workers. The number, which was mostly comprised of layoffs in the services industry (estimated at 1,500), was lower than the data from the previous two quarters.

“The combination of more jobs and less layoffs is definitely a good sign for the jobs market, and the Singapore economy in general,” said Ms. Jacqueline Low, Chief Operating Officer of Janus Corporate Solutions, a Singapore company registration agency and the parent of GuideMeSingapore.com.

“Over the last few months, we have seen an increase in the number of expatriates from Europe looking to relocate to Singapore and work. However, the numbers here show that blue-collar jobs in industries such as manufacturing and construction are booming, which is an indicator that there is an overall spike in activity in the local economy. It shows that many are confident in doing business in Singapore,” she added.

Other recent findings are also painting a bright picture for the Singapore job market in the second half of this year. According to a survey by global management consulting firm Hay Group, employers in Singapore will be offering a higher base salary to fresh graduates compared to last year. The research also showed that engineering jobs typically commanded the highest starting salaries, followed by jobs in R&D and merchandise operations.

“Overall, it is looking like the second half of the year will have more robust growth in the jobs market,” said Ms. Low. “The economy is doing well despite the gloomy situation in Europe, and it is convincing more entrepreneurs to establish a company in Singapore and contribute to jobs growth across the board.”

About Janus Corporate Solutions Pte Ltd
Janus Corporate Solutions Pte Ltd is a leading Singapore-based firm that provides comprehensive and cost-effective Singapore company formation, employment visa, accounting and tax filing services to businesses and entrepreneurs worldwide. For more information, visit http://www.guidemesingapore.com

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