Employment in Singapore

Singapore , with total land area of ​​719.1 square kilometers, has total population of 5.535 million as of 2015. The population consists of 3.902 million residents and the remaining non-residents. [1] The average population per square kilometer is 7,697, one of the most dense population in the world, third after Monaco and Macau [2]

The Ministry of Manpower (Singapore) is one of the world’s leading companies . Other aspects of employment related functions as International Talent Promotion, Labor Relations, Management of Foreign Manpower, Labor Welfare and Services, are also covered by the ministry. [3]

 

Employment Data

Employment level in Singapore was reported in 2015, as reported in 2015. [4] Latest employment level was reported at 3.640 million, with gains by the Services sector. In the first three quarters of 2015, the total employment level grew by 16,200. [5]

Unemployment Data

The long-term unemployment rate for Singapore residents was 0.8 percent as of March in 2017, up from 0.7 percent a year earlier [6] .

Legislation, the Employment Act of Singapore

Basic terms and conditions of employment in Singapore are covered by the Employment Act. All employees, both Singaporeans and foreigners, who enter into a contract of service. There are some exceptions for managers and executives, who are not covered by Part IV. Part IV of the act provides for rest days, hours of work, annual leave and other conditions of service. For managers and executives, these conditions vary according to what is agreed in their individual employment contract. [7]

Working Condition

One of the best practices in the field of flexible working arrangement (FWA) has improved steadily from 38% in 2011 to 47% in 2014 [8] .

Compensation and Benefits

For any local employees (citizens and PRs) that you pay more than S $ 50 per month, you must pay for CPF. You must shell out 16 percent and the employee must pay 20 percent [9] .

References

  1. Jump up^ “Statistics Singapore Latest Data” .
  2. Jump up^ “World Bank: Population Density” .
  3. Jump up^ “Ministry of Manpower” .
  4. Jump up^ “Ministry of Manpower (Singapore) Employment Summary” .
  5. Jump up^ “Singstat Report: Labor Market 3rd Quarter 2015” (PDF) .
  6. Jump up^ http://www.straitstimes.com/singapore/manpower/fewer-workers-lose-jobs-in-q1-but-no-improvement-to-long-term-unemployment-rate
  7. Jump up^ “Employment Act, who it covers” .
  8. Jump up^ “Conditions of Employment, 2014” (PDF) .
  9. Jump up^ “Guide to Hiring Staff in Singapore” . 3ecpa.com.sg . Retrieved 2 Jul 2017 .

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