Fresh grads taking longer to secure jobs, retrenched workers finding it harder to land new jobs: Jasmin Lau

“Some workers are able to move into new jobs relatively quickly, while others may face greater difficulties because of their skills, occupation, age, or the sector they were previously working in,” she said. 

“Some are able to find new jobs with the same or higher wages, but others may experience pay reduction.”

ONGOING REVIEW OF EMPLOYMENT ACT

Ms Lau said the Manpower Ministry and its tripartite partners are reviewing the Employment Act, including retrenchment benefits, which are not currently a statutory requirement.

The review will cover whether stronger obligations on employers are warranted.

She said around 88 per cent of employers paid retrenchment benefits to employees.

Of the employers who did not pay retrenchment benefits, one in five indicated that they had financial difficulties.

“The rest said that they did not pay due to other reasons, including the lack of an obligation to do so, or because the employee was given other forms of support, such as keeping them on payroll for an extended period or employment assistance payout,” said Ms Lau.