SINGAPORE - The road to recovery for the labour market is likely to be slow and uneven, with resident unemployment rates taking a longer time to reach pre-crisis levels compared to during the global financial crisis, said the Monetary Authority of Singapore .
However, longer term recovery will be protracted, as activity in the travel-related sector is expected to be weak for an extended period of time, leading to spillovers to the rest of the economy which will weigh on the overall labour market. For example, working from home could become more prevalent, reducing demand for transportation services as well as social and recreational activities.
But when compared with foreign employment, local employment is expected to rebound more strongly, partly due to government wage subsidies supporting the hiring of locals.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Rust Belt boom that wasn't: Heartland job growth lagged under TrumpThe voters of Monroe County, Michigan, may have expected an economic windfall when they flipped from supporting Democrat Barack Obama to help put ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Singapore factory rebound picks up pace with 24.2% jump in SeptemberManufacturing output surged 24.2% compared with the same month last year.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
More than 2,100 opportunities available in logistics sector under SGUnited programmeSINGAPORE: More than 2,100 job, attachment and training opportunities in the logistics sector were made available under the SGUnited jobs and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Born prematurely, Singapore's tiniest baby on the road to recovery six months laterSINGAPORE - A baby weighing just 345g, which is about a can of soft drink, who was born six month ago and is possibly the lightest infant to have survived premature birth in Singapore, is now a 'hefty' 4.27kg.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
India's Reliance to push on with retail deal in battle with AmazonIndian conglomerate Reliance has dismissed Amazon's push to delay its acquisition of domestic retail giant Future Group, despite an arbitration ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Students may collect national exam results in person with COVID-19 safety measures in placeSINGAPORE: Despite the COVID-19 outbreak, students will be able to collect their national examination results in person this year but are expected ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »