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Due to the Covid pandemic, companies would earn significantly lesser if the type of jobs / occupations are not aligned to benefit citizens in the midst of the pandemic. Thus, resulting in significant decrease in their economy which caused many to be retrenched or fired to save their money. This resulted in a high incline in percentage of unemployment. For example, occupations related to tourism have high retrenchment rate during the pandemic. It is important to have knowledge on this aspect as it helps the individuals / victims of the pandemic learn more about themselves and how they can work on their transferable skills / values to find another suitable occupation.

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As a result of the Covid-19 pandemic that changed Singapore and the rest of the world since 2020, many people who work in sectors reliant on tourism have lost their jobs as air travel around the world was restricted. Hawkers, chefs, waiters and waitresses lost their jobs or struggled to stay afloat in the economy and job market because dining-in was not allowed during the Circuit Breaker period and post-Circuit Breaker period. Other sectors such as technology were not as badly affected or continued to grow. It is important to know the local, regional and global market as it can help us greatly in searching for jobs in the near future.

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Singapore’s job market has been affected during the pandemic because there were many jobs that could not sustain due to the  lockdown. Thus, bosses decided to send off some employees as they do not have enough income for their salaries

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Due to the lack of customers and clients to attend to during the pandemic, many workers from various companies had been retrenched for it’s own benefits. It is stated that such workers were not needed anymore in that period. For example, some hotels in Malaysia had already been closed given the consequences. Singapore’s job market would have less economic benefits and they would not be able to generate more revenue for the citizens. Retrenchment had always been observed based on how the company is doing. Now contradicting to the fact that many citizens in Singapore will not be able to have their own economy welfare in peace.

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A lot of Singaporeans were unemployed during the pandemic and the reason why it is important to have knowledge of the local regional or global labour is because understanding the labour market helps individuals in disappearing jobs to recognise the value of their transferable skills

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Due to lock down, many people werent able to go out of their homes to buy stuff. So, they werent able to go to shops which lead to the company / shop with lack of customers. Then, they will lose profits and will then have to retrench some workers.
For example, during pandemic, some shops have to be close down due to the lack of customers as without customers, they wouldnt be able to earn money. Another example, IR wouldnt be able to function as it depends on foreigners. Furthermore, they must be 21 and above.

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Companies would earn lesser revenue due to the pandemic since people were on lockdown. This then resulted in the reduction of their profits. Hence, they could not afford to pay the employees’ salaries which increased the retrenchment rates overtime during the pandemic. It became harder for people to get job opportunities.

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Singapore’s job market is affected negatively by the pandemic because during the pandemic period, many people were laid off from their jobs. It is important so that we can find jobs easily and earn money for ourselves.

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many people lost their jobs and were asked to leave their company within a day. Due to the pandemic, many companies turned to working from home. Thus, more bosses realised that it is better to have workers who can do more work and who ask for a lesser pay. Some companies even hired workers from overseas because regardless which country the worker was in, they would both need to work from home. Moreover, many people started to reduce their spending which negatively impacted many companies due to the lack of customers and buyers. It is important to keep up with the current economic status of the country to plan ahead especially with the current recession approaching.