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1 Dec 2009 True or false Unemployment rate of older men in Singapore
More disinformation propaganda SHIT !
More older men at work
Employment rate for younger workers takes a dip
Dec 1, 2009
By Cassandra Chew
Income up by just 0.5 per cent last year
THE income of Singapore workers has hardly moved, climbing a paltry $10 in one year to $2,600 this June. This rise in the median monthly income of full-time workers works out to a mere 0.5 per cent.
In contrast, their income last year soared by 11 per cent and in 2007, by 7.7 per cent.
Latest official figures also showed that part-timers did not fare much better.
Their increase was 3.33 per cent, from $600 last June to $620, said a Manpower Ministry survey released yesterday.
Despite the increases, the overall median income of resident workers, including permanent residents, went down.
The reason is the bigger pool of part-timers in the workforce, caused partly by a change in definition by the ministry, which conducts the survey annually in June.
Now, those who work fewer than 35 hours a week are classified as part-timers. Previously, it was below 30 hours.
As a result, the median income for all employed residents declined by 1.2 per cent to $2,420 a month compared to $2,450 a year ago.
The drop can also be traced to companies battling the recession with such cost-cutting measures as freezing salaries and reducing pay, said the president of the Singapore Chinese Chamber of Commerce and Industry, Mr Teo Siong Seng.
But Nanyang Technological University economist Randolph Tan argued that the very fact that income for full-timers rose reflects Singapore's relatively robust labour market compared with the United States and Europe.
However, the number of full-time, low-wage workers continues to decline for the third year in a row. This year, these workers who earn a maximum of $1,200 a month, totalled 275,000 and form 16.5 per cent of the total workforce.
Last June, the corresponding figures were 292,800 or 17.4 per cent.
Dr Tan believes skills training played a key role in elevating these workers, into a higher income bracket.
CASSANDRA CHEW
The rate for older men rose from 73.8 per cent to 74.7 per cent. The rise was a pleasant surprise to labour experts. -- ST PHOTO: SAMUEL HE
DESPITE the downturn, the number of older men employed in Singapore is at a record high.
The momentum was such that even a dip in the employment rate for older women did not pull down the overall rate for this group of workers, aged 55 to 64.
It held steady at last year's record high of 57.2 per cent, according to a Ministry of Manpower (MOM) survey released on Monday.
This, despite the global recession forcing Singapore employers to hire at a slower pace, according to the annual labour force survey carried out in June.
For the first time in six years, the employment rate fell for the pool of almost two million Singapore residents aged 25 to 64, including permanent residents. It slipped from 77 per cent to 75.8 per cent this June.
By contrast, the rate for older men rose from 73.8 per cent to 74.7 per cent.
The rise was a pleasant surprise to labour experts.
Read the full story in Tuesday's edition of The Straits Times.
[email protected]
More disinformation propaganda SHIT !
More older men at work
Employment rate for younger workers takes a dip
Dec 1, 2009
By Cassandra Chew
Income up by just 0.5 per cent last year
THE income of Singapore workers has hardly moved, climbing a paltry $10 in one year to $2,600 this June. This rise in the median monthly income of full-time workers works out to a mere 0.5 per cent.
In contrast, their income last year soared by 11 per cent and in 2007, by 7.7 per cent.
Latest official figures also showed that part-timers did not fare much better.
Their increase was 3.33 per cent, from $600 last June to $620, said a Manpower Ministry survey released yesterday.
Despite the increases, the overall median income of resident workers, including permanent residents, went down.
The reason is the bigger pool of part-timers in the workforce, caused partly by a change in definition by the ministry, which conducts the survey annually in June.
Now, those who work fewer than 35 hours a week are classified as part-timers. Previously, it was below 30 hours.
As a result, the median income for all employed residents declined by 1.2 per cent to $2,420 a month compared to $2,450 a year ago.
The drop can also be traced to companies battling the recession with such cost-cutting measures as freezing salaries and reducing pay, said the president of the Singapore Chinese Chamber of Commerce and Industry, Mr Teo Siong Seng.
But Nanyang Technological University economist Randolph Tan argued that the very fact that income for full-timers rose reflects Singapore's relatively robust labour market compared with the United States and Europe.
However, the number of full-time, low-wage workers continues to decline for the third year in a row. This year, these workers who earn a maximum of $1,200 a month, totalled 275,000 and form 16.5 per cent of the total workforce.
Last June, the corresponding figures were 292,800 or 17.4 per cent.
Dr Tan believes skills training played a key role in elevating these workers, into a higher income bracket.
CASSANDRA CHEW
The rate for older men rose from 73.8 per cent to 74.7 per cent. The rise was a pleasant surprise to labour experts. -- ST PHOTO: SAMUEL HE
DESPITE the downturn, the number of older men employed in Singapore is at a record high.
The momentum was such that even a dip in the employment rate for older women did not pull down the overall rate for this group of workers, aged 55 to 64.
It held steady at last year's record high of 57.2 per cent, according to a Ministry of Manpower (MOM) survey released on Monday.
This, despite the global recession forcing Singapore employers to hire at a slower pace, according to the annual labour force survey carried out in June.
For the first time in six years, the employment rate fell for the pool of almost two million Singapore residents aged 25 to 64, including permanent residents. It slipped from 77 per cent to 75.8 per cent this June.
By contrast, the rate for older men rose from 73.8 per cent to 74.7 per cent.
The rise was a pleasant surprise to labour experts.
Read the full story in Tuesday's edition of The Straits Times.
[email protected]
