36% of Singaporeans still feel job market is "weak"

Pessimism down from 50% in 3Q2012.

According to the latest Global Sentiment Survey from Singapore-based Berkley Group only 36% of respondents in Singapore felt that there was a weak job market – a decrease of 14% from Berkley’s previous survey carried out in Q3 2012. These findings suggest that confidence in the local job market has improved, said the resourcing and talent management firm.

"Added to this, despite much talk of problems in the Eurozone, 68% of Singaporean respondents have said that it isn’t affecting the company they work for – significantly higher than the worldwide average of 53%. Furthermore, 59% of Singaporean professionals said they were either not worried about job security or were less worried. Although, this was slightly less than the global average of 65%," said Berkley Group.

Steve Greenwood, CEO of Berkley Singapore, said: “The findings suggest that, on the whole, the economy in Singapore does seem to be improving – albeit slowly. It’s greatly encouraging that a high proportion of respondents felt that they weren’t being affected by the Eurozone crisis. And it’s also clear that the job market does seem fairly robust, and professionals here are optimistic about the future.”

This positivity is also reflected in salary increases in the area, as Greenwood explained; “The survey found that 70% of Singaporean respondents had received or expected to receive some form of pay rise. While this is slightly down on last years’ figures (75%), it is significantly higher than the global average of 47%, suggesting ongoing positivity for workers in Singapore.”