Singapore manufacturing hollowed out as 43,700 jobs lost in 2009
Additional manufacturing jobs during Q4 2009 were not enough to offset the losses after workers were let go for four consecutive quarters.
According to the Ministry of Manpower, "After shedding workers for four consecutive quarters, manufacturing employment rose by 700 in the fourth quarter. As the employment gains were not sufficient to offset the earlier losses, manufacturing employment contracted by 43,700 in 2009."
In addition, overall unit labour cost for the manufacturing industry declined by 4.8 percent for the whole year.
Although the sector posted 11 percent improvement in terms of productivity, overall labour productivity fell 4.7 percent in 2009, following the 7.6 percent decline in 2008.