Even though Singapore's economy appears to be recovering, the country's Manpower Ministry said it will take some time before its employment situation stabilizes, local media reported on Monday.
Singapore's Manpower Minister Gan Kim Yong said that recruitment and employment opportunities will typically lag behind economic recovery, according to local TV broadcaster Channel NewsAsia.
+ACI-Over the next 12 months, we expect the employment market to remain more or less stable, but we do not see a massive recovery of the employment market,+ACI- Gan was quoted as saying in the report.
+ACI-It is important for us to continue to help workers who are affected as it will take some time for them to get back to the job market.+ACI- Gan said, +ACI-So we have to prepare our workers, train them and upgrade them so that they will be able to tap the new opportunities.+ACI- According to the broadcaster, between Dec. 1, 2008 to Nov. 31, 2009, some 264,000 local workers have committed to the Skills Program for Upgrading and Resilience (SPUR) training, a government supported scheme
which aims to help workers upgrade their skills and find jobs. Two-thirds have either started or completed their training. More than two-thirds are rank-and-file workers, while the rest are Professionals, Managers and Executives (PMEs).
Singapore expects its gross domestic product (GDP) for 2009 to contract by 2.0 to 2.5 percent. For 2010, Singapore's Trade and Industry Ministry has forecast economic growth of between 3 and 5 percent.