Singaporeans perceive improvement in local labour market
These were the findings of a survey by the Institute of Policy Studies (IPS) which showed that in March, 42% of those surveyed believed that the local labour market will be bad for the next six months, compared with the 80% in May last year.
The proportion of those who felt that the job market will get better rose from 13% to 32% over the same period.
However, job security levels remain largely unchanged, with 53% of respondents having confidence that they would still be employed in the next six months. Of these, over 60% were aged 39 and below, 64% had at least a degree, 71% earned a monthly salary of more than S$5,999 (US$4,525) and 62% worked in the professional services sector.
If they were retrenched, those who had no confidence in finding a job with comparable pay and benefits fell from about 58% in June 2020 to 45% in March 2021.
The survey, designed to assess the population’s sentiment toward the pandemic, was conducted via online polls over 22 phases from April 2020 to March 2021. The data was collected from 500 respondents who were Singapore residents aged 21 and above, according to The Straits Times.