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Singapore residents’ monthly incomes rise
By Faris Mokhtar | Yahoo! Newsroom – 19 hours ago
Incomes of Singaporeans and permanent residents rose sharply this year amid good economic growth and a tighter labour market.
Also, the employment rates for older residents and for women in their prime-working age reached new highs, according to findings of the Ministry of Manpower (MOM).
Based on the Labour Force Survey conducted in June, the median monthly income from work of full-time employed residents – Singaporeans and PRs – increased by 8.3 per cent to S$3,449 this year from the previous year.
The rise was faster than the 2.5 per cent growth reported the previous year.
After taking the inflation rate into account, the median monthly income rose in real terms by 3.1 per cent after a fall of 0.3 per cent in 2010.
Excluding employer contributions to the Central Provident Fund, the monthly median income grew by 8.0 per cent to S$2,925 this year, while real income grew by 2.8 per cent.
The number of economically-active residents increased by 1.6 percent to 2.08 million in June this year, slower than the 3.1 per cent growth last year as tighter immigration led to fewer PRs overall.
One of the key findings of the survey was that the employment rate of those aged 25 to 64 rose to a new high of 78 per cent from the 77.1 per cent attained last year.
This came on the back of the growth of the employment rate for women aged between 25 and 54 to 73.0 per cent this year from 71.7 per cent the previous year.
Also, the employment rate of older working residents – those within the 55 to 64 age bracket – rose to a record 61.2 per cent, up from 59 per cent the previous year.
This trend of more elderly people in the workforce could continue with more of them from the post-war generation crossing over into older age groups and gaining employment.
The survey showed that three in 10 residents in the labour force this year were 50 years old and above, an increase from the 18 per cent share in 2001.
Also, the number of better educated residents joining the workforce continues to increase with 28 per cent of them being degree holders and 47 per cent holding diploma and professional qualifications.
More residents got jobs in the professional, managerial, executive and technician (PMET) and non-PMET sectors with respective growth rates of 2.2 per cent and 1.5 per cent.
However, PMETs experienced a lower unemployment rate of 2.4 per cent compared to residents working in the clerical, sales and service industry and production sector which stands at 5.7 per cent and 4.3 per cent respectively.
By Faris Mokhtar | Yahoo! Newsroom – 19 hours ago
Incomes of Singaporeans and permanent residents rose sharply this year amid good economic growth and a tighter labour market.
Also, the employment rates for older residents and for women in their prime-working age reached new highs, according to findings of the Ministry of Manpower (MOM).
Based on the Labour Force Survey conducted in June, the median monthly income from work of full-time employed residents – Singaporeans and PRs – increased by 8.3 per cent to S$3,449 this year from the previous year.
The rise was faster than the 2.5 per cent growth reported the previous year.
After taking the inflation rate into account, the median monthly income rose in real terms by 3.1 per cent after a fall of 0.3 per cent in 2010.
Excluding employer contributions to the Central Provident Fund, the monthly median income grew by 8.0 per cent to S$2,925 this year, while real income grew by 2.8 per cent.
The number of economically-active residents increased by 1.6 percent to 2.08 million in June this year, slower than the 3.1 per cent growth last year as tighter immigration led to fewer PRs overall.
One of the key findings of the survey was that the employment rate of those aged 25 to 64 rose to a new high of 78 per cent from the 77.1 per cent attained last year.
This came on the back of the growth of the employment rate for women aged between 25 and 54 to 73.0 per cent this year from 71.7 per cent the previous year.
Also, the employment rate of older working residents – those within the 55 to 64 age bracket – rose to a record 61.2 per cent, up from 59 per cent the previous year.
This trend of more elderly people in the workforce could continue with more of them from the post-war generation crossing over into older age groups and gaining employment.
The survey showed that three in 10 residents in the labour force this year were 50 years old and above, an increase from the 18 per cent share in 2001.
Also, the number of better educated residents joining the workforce continues to increase with 28 per cent of them being degree holders and 47 per cent holding diploma and professional qualifications.
More residents got jobs in the professional, managerial, executive and technician (PMET) and non-PMET sectors with respective growth rates of 2.2 per cent and 1.5 per cent.
However, PMETs experienced a lower unemployment rate of 2.4 per cent compared to residents working in the clerical, sales and service industry and production sector which stands at 5.7 per cent and 4.3 per cent respectively.
Obviously many didn't respond to these surveys, otherwise why offer bribes
:oIo: 
