Singapore's jobless rate at 10-year low

soul_rage SG

I agree with you. Rules will always be bended by creative humans.
A news report which says 1.7% low employment rate, but does not explain the exact way of gathering its data, is questionable, both in its accuracy, and its motive.

As I said, why don't they return us the CPF contribution rate if we are doing so well?

reyes SG

does GDP growth has direct relationship with salary increment?
Does company doing well meaning passdown profits down to employee?
Do we have to take into consideration the impact on foreign workers?
what i can see, the cream of the workforce claim most credit for company profits and pay themselves fat bonuses. the middle and lower management will be salary hike against foreigners.

certainly i bet most singaporeans salary increment is lagging behind singapore GDP growth rates.

reyes SG

1.7% is singaporeans or PR?
PR is not singaporeans. we should not include them into our statistics.

maurizio13 SG

By including PR in the figures for unemployment the results would look more rosy, because the PRs have a higher percentage of employment as compared to citizens.

But the shocking fact is, if you are employed for one hour during the quarter for reporting employment, you are considered employed.

I guess everybody lives of 1 hour pay for 3 months.

Laughing

Daddy!! SG

if you remove PRs from the equation, then unemployment rate would be negative.

maurizio13 SG

Didn't know your maths is so good.

What you remove from one side of the equation, you remove from the other side of the equation.

Laughing

de_middle SG

Laughing

he shld start planning for "cheap" retirement

Daddy!! SG

bear in mind that the number of jobs generated by the economy is constant. if the PRs are removed from the equation ie kicked out of the country, then the number of jobs will exceed the workforce, hence unemployment rate is negative.

Daddy!! SG

absolutely. Laughing

i already have. dont know why you guys are so desperate.

maurizio13 SG

Maybe you can show me how you obtain a negative figure for unemployment rate.

The equation is expressed as:

Unemployment Rate = (Unemployed Workers / Total Labour Force) X 100%

To get a negative Unemployment Rate, either the Unemployed Workers has to be negative of Total Labour Force has to be negative. Both of which is impossible.

Maybe you should read more books, gain more knowledge and intelligence before posting your views.

Daddy!! SG

thats why you should learn how to think outside the box instead of just applying the equation.

here it is. what happens when there are more jobs than the workforce? The equation which you present is not applicable.

maurizio13 SG

New economic theory from you???

Maybe you can explain how you purport to call this equation?

You can write an economic thesis on this an get Harvard to confer you a doctorate. But you need to go get a proper University education first.

Hehehe..........

If there are more jobs than total workforce, then the economy is at full employment with zero unemployment, which is quite contentious because some rich folks might choose to remain unemployed. There is no such thing as negative unemployment, just like there is no such thing as negative nominal interest rate.

The definition is such:

Unemployment Rate = (Unemployed Workers / Total Labour Force) X 100%

Maybe you can write to the Singapore Department of Statistics to correct them on their definition.

LatecomerX SG

A job vacancy doesn't necessary translate to an employment of one employee. Singapore would have hit an unemployment rate of 0% if every currently unemployed Singaporean aged 15 and above takes up whatever "low-end" jobs that are available. But even if that happens, it doesn't mean the government is super-efficient, but rather that Singaporeans have become so desperate to feed themselves but didn't know how to rob a bank, protest or fight for their own rights.

« Previous Page