Singapore’s Ministry of Trade and Industry emphasized in a report that during the pandemic, Singapore suffered unprecedented job losses, more severe than any other crisis.
By the third quarter of 2021, the total number of employed people in Singapore has decreased by 196,400, of which 113,500 jobs have been lost during the circuit breaker in the second quarter of 2021.
In contrast, the number of employed persons in other crises declined from peak to trough. For example, the burst of the Internet bubble led to a decrease of 79,500 employees, the Asian financial crisis decreased 42,100, and the global financial crisis decreased 13,800.
MTI said: “Unlike the previous downturn, the COVID-19 pandemic has simultaneously affected Singapore’s economy through five transmission channels, especially in the early stages of the pandemic.”
Read: With the relaxation of COVID-19 restrictions, Singapore will reduce support for businesses
These include the sharp decline in the number of international tourists and air travel, which has dealt a blow to the tourism and aviation-related sectors; safety management disrupts consumer-oriented sectors such as retail and catering; weak demand and supply chain disruptions affect wholesale trade and water transportation Other export-oriented industries; the outbreak of migrant workers’ dormitories affecting the construction and marine industries has caused labor disruption; the demand for industries affecting the real estate market will decline in 2020 and early this year.
The proportion of people working completely remotely in the most recent week of July was 11.6%, down from 18.5% in April.
The country will not formulate specific laws to compulsory vaccination, but employers can compulsory vaccination in high-risk environments.
An investigation by the Japanese Ministry of Labor found that the prolonged pandemic is still suppressing wage increases for workers in the affected sectors.
© 2021. Asian Human Resources Administration. all rights reserved.
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