Friday, March 05, 2004

Singapore job market picking up 

On the front page of today's The Straits Times, it is reported that the number of jobs available at Career 2004 is twice as many as last year. For every two exhibitors last year, there are five this year.

However, while it is true that the job market may be picking up, it may not be good enough for job seekers. The Straits Times also reported that "for every job on offer, there were more than seven job seekers yesterday and there may be 300,000 or more after the 10,000 jobs".

Also, in the Money section of The Straits Times, it is reported that Singapore's Purchasing Managers' Index for February was 53.1. Although above the 50-point level which marks economic expansion, it is down 0.7 point from January. And while overall manufacturing employment continues to be healthy, employment in the electronics industry shrank for the first time in six months, and stocks of finished goods in the industry climbed, forming a potential overhang of finished goods that could dampen employment in the electronics sector.

While the worst may be over, it's still a far cry from the good old days of plentiful jobs looking for workers. Those days, in my opinion, will not come back for a long time to come.


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