04-10-2019, 12:02 AM
Comforting to know that finding a job at age 49 is still possible in a tough environment, albeit putting in a lot of upgrading efforts. Hopefully, the pay is not too bad.
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PMET unemployment in Singapore continues to climb
3 October 2019
SINGAPORE — Jeremy Ho* (not his real name) began his job hunt even before receiving his retrenchment notice in June, having heard about impending job cuts at the bank where he had spent six years.
But 20 applications and three interviews later, the 39-year-old remains jobless.
Ho is part of a growing group of Professionals, Managers, Executives and Technicians (PMETs) that seem unable to break out of the retrenchment rut. According to the Ministry of Manpower’s (MOM) latest labour report, while retrenchments fell from 3,230 in the first quarter to 2,320 in the second, the number of PMETs who lost their jobs increased from 1,440 to 1,680, making them the bulk of those retrenched.
Nearly half of those told to go had a degree, and 70 per cent were over 40.
“PMETs continue to form a much larger share of retrenched workers compared to their proportion in the workforce,” said DBS senior economist Irvin Seah. PMETs made up 57 per cent of the resident workforce in 2018......
Part of the problem could be an expectations gap. Seah noted, "Most of them are white-collar, skilled workers who command a higher salary and have many financial and family commitments. They are looking for jobs that can support (their lifestyle), but (these) are not readily available anymore."......
That was the challenge James Ching, 41, faced after he resigned from his job as regional marketing director in the education industry last December. He had spent 17 years in marketing positions in both MNCs and the public sector, but eight months in, and despite help from recruiters, he remains jobless.
“I thought that one (interview) went well, but they …thought I wouldn’t be happy because the role was too junior,” he said.
Retraining, government support needed
That is not to say some PMETs haven’t been able to break out of the cycle.
Leonard Lau, 49, remained unemployed for nine months until he trained his focus on refining his resume and attending some $10,000 worth of courses on everything from management to bitcoin. He landed a position as a senior project manager at a telco, and then an MNC......
Read more : https://sg.news.yahoo.com/pmet-unemploym...45010.html
--------------------
PMET unemployment in Singapore continues to climb
3 October 2019
SINGAPORE — Jeremy Ho* (not his real name) began his job hunt even before receiving his retrenchment notice in June, having heard about impending job cuts at the bank where he had spent six years.
But 20 applications and three interviews later, the 39-year-old remains jobless.
Ho is part of a growing group of Professionals, Managers, Executives and Technicians (PMETs) that seem unable to break out of the retrenchment rut. According to the Ministry of Manpower’s (MOM) latest labour report, while retrenchments fell from 3,230 in the first quarter to 2,320 in the second, the number of PMETs who lost their jobs increased from 1,440 to 1,680, making them the bulk of those retrenched.
Nearly half of those told to go had a degree, and 70 per cent were over 40.
“PMETs continue to form a much larger share of retrenched workers compared to their proportion in the workforce,” said DBS senior economist Irvin Seah. PMETs made up 57 per cent of the resident workforce in 2018......
Part of the problem could be an expectations gap. Seah noted, "Most of them are white-collar, skilled workers who command a higher salary and have many financial and family commitments. They are looking for jobs that can support (their lifestyle), but (these) are not readily available anymore."......
That was the challenge James Ching, 41, faced after he resigned from his job as regional marketing director in the education industry last December. He had spent 17 years in marketing positions in both MNCs and the public sector, but eight months in, and despite help from recruiters, he remains jobless.
“I thought that one (interview) went well, but they …thought I wouldn’t be happy because the role was too junior,” he said.
Retraining, government support needed
That is not to say some PMETs haven’t been able to break out of the cycle.
Leonard Lau, 49, remained unemployed for nine months until he trained his focus on refining his resume and attending some $10,000 worth of courses on everything from management to bitcoin. He landed a position as a senior project manager at a telco, and then an MNC......
Read more : https://sg.news.yahoo.com/pmet-unemploym...45010.html