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Friday, 26 January 2007 11:05 |
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A record high proportion of the resident population were in employment while unemployment dropped to a five-year low for June periods.The key findings of the annual 'Report on Labour Force in Singapore, 2006' from the Ministry of Manpower's Research and Statistics Department are highlighted below:In June 2006, a record number of residents were employed. 1.80 million residents were employed, a significant increase from 1.46 million in June 1996.76% of the resident population aged 25 to 64 were employed, the highest since the data was first compiled in 1991, up from 73% in 1996.Most of the new jobs taken up by residents were higher value added, although gains were more widely spread over the past two years. Consequently, the share of Professionals, Managers, Executives & Technicians (PMETs) in the resident workforce rose from 39% in 1996 to 47% in 2006, mainly at the expense of production & related workers which declined from 32% to 27%.Buoyed by the economic upturn, unemployment improved to a five-year low for June periods. Overall, 4.5% of the resident labour force was unemployed in June 2006, down from 5.8% in June 2004 but above the 3.1% a decade ago (non-seasonally adjusted1). Supported by the robust economic conditions, resident job seekers took shorter time to secure employment. In June 2006, the median duration of resident unemployment was 8 weeks compared to 12 weeks for 2002 to 2005 (June periods).The median gross monthly income2 of full-time employed residents was $2,170 in June 2006, representing an increase of 2.9% p.a. over the decade. After adjusting for inflation, the growth in real terms was 2.2% p.a.12% or 172,000 of resident employees were engaged on term contracts in June 2006 while the remaining 88% were permanent employees3. On average, employees on term contract drew lower pay than those on permanent appointments.Reflecting the ageing population, a higher share of the resident labour force were aged 40 & above (52%) compared with a decade ago (40%).The educational profile of the labour force continues to improve with the inflow of better educated new entrants into the labour market. The share of degree holders almost doubled to 23% from 12% a decade ago. Nevertheless, there was still a sizeable pool of 532,400 residents without secondary qualifications, forming 28% of the resident labour force in June 2006. However, this has come down from 586,300 or 39% in June 1996.Some 31% of residents aged 15 to 64 in the labour force were involved in some form of job-related structured training4 over the 12-month period ending June 2006. This is higher than 27% in 2005 and 25% in 2004.
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