The job rate for Singapore residents aged 25 to 64 rose to a new
high of 77 per cent, from 76.5 per cent a year ago, according to
the Singapore Workforce 2008 report released by the Ministry of
Manpower's research and statistics department on Friday. The
findings were based on a labour force survey conducted in
mid-2008.
'The improvement mainly resulted from more females who were
previously outside the labour force becoming employed,' said MOM in
a statement.
The employment rate for older Singaporeans aged 55 to 64 also
rose by another 1 per cent over the year to 57.2 per cent in June,
thanks to continuing efforts to enhance the employability of older
people.
Reflecting more cautious hiring sentiments amid the economic
slowdown, the resident unemployment rate rose from a decade low of
2.4 per cent in December 2007 to 3.1 per cent in June.
Since then, the seasonally adjusted resident unemployment rate
rose further to 3.3 per cent in September 2008 amid the economic
contraction and continued weakening in economic outlook.
But the jobless rate also went up, after reaching a decade low
in the second half of 2007, with the less skilled remaining more
vulnerable to unemployment.
The report also shows that the median monthly income for
full-time employed residents went up by 11 per cent to $2,590 in
2008, up from the gain of 7.7 per cent in 2007.
After adjusting for higher inflation, the increase in median
income was 4.6 per cent compared with 5.5 per cent in 2007.
The income growth in 2008 partly reflects the spillover effect
from the strong economic performance last year and the higher
proportion of Professional, Managerial, Executive & Technician
(PMETs), whose income is typically higher, among employed residents
in 2008.
Here are the other key findings of the survey:
More comprehensive data will be published in the Report on
Labour Force in Singapore 2008 on Jan 30.
The report is available online on the Ministry of Manpower's
website athttp://www.mom.gov.sg/mrsd/publication.
