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Singapore Minister reports on retrenched workers and labor market trends

2 reports, 2 independent Updated Oct 14
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What happened

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Jasmin Lau, Acting Minister for Manpower, presented labor market figures in Singapore on October 6. She stated that retrenched resident professionals, managers, executives, and technicians (PMETs) who return to work earning less see a median wage reduction of about 25 per cent. The report also noted that financial services has the lowest six-month re-entry rate for retrenched PMETs over the last 14 quarters.

From businesstimes.com.sg

Why it matters

Some supportBrind's analysis of the reports

The figures highlight structural challenges in the Singapore labor market, particularly concerning the re-employment outcomes for retrenched workers. The Ministry of Manpower is the specialized government agency responsible for implementing and enforcing national labor policies and regulatory frameworks within Singapore.

From businesstimes.com.sg

Who's involved

  • Jasmin LauActing Minister for Manpower in Singapore
  • SingaporeThe sovereign island country where the labor market trends were discussed
  • Ministry of ManpowerThe government agency overseeing national labor policies

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