Manpower landscape in numbers
09 July 2010
Our annual Yearbook of Manpower Statistics was just published last week.
Drawing from varied sources, the Yearbook is a treasure trove of data providing both breadth and depth of manpower information on:
- Labour force
- Employment, hours worked and conditions of employment
- Labour turnover, redundancy, job vacancy and employment service
- Labour relations
- Workplace injuries and occupational diseases
- Social security
- Higher education and skills training
MOM's Manpower Research and Statistics Department has been putting together this body of knowledge since its first edition in 1977. Discover how labour turnover measured in terms of recruitment and resignation rates can complement employment and unemployment data in helping us understand the “health” of the labour market. When the economy is doing well and more jobs are available, labour turnover tends to be higher. Conversely, during economic downturns, those who are employed tend to stay put, while companies cut back on hiring which leads to lower recruitment and resignation rates.
Indeed, data published in the Yearbook showed that the average monthly recruitment and resignation rates declined from 2.8% and 2.0% respectively in 2008 to 2.2% and 1.8% in 2009. With the economic recovery, latest indicators published in the Labour Market Report, First Quarter 2010 showed that labour turnover has gone up - a clear sign that the labour market is tightening. The monthly recruitment and resignation rates averaged 2.6% and 2.0% respectively during the first quarter of 2010, up from 1.9% and 1.8% in the same period last year.
So if number crunching is your thing, check out our manpower-related numbers in the Singapore Yearbook of Manpower Statistics.