|
|
|
Employment
|
|
Recovery in the job market
strengthened in the third quarter 2004, supported by the robust economic
growth in the first half of this year.
|
|
Preliminary estimates show that
employment increased by 16,600, the strongest quarterly gain in three and half
years. This brings the total number of persons employed to 2,176,400 as at
September 2004, up 41,200 from the start of the year.
|
|
Employment in the goods-producing
industries expanded by 7,200. This came on the back of accelerated gains of
8,800 in manufacturing employment, that was surpassed only in the third
quarter 2000. The gains were partially offset by the continued cutback in
construction employment (-1,800), but at a slower pace than before.
|
|
The services-producing industries
added 9,400 workers, continuing the increase for the fifth consecutive
quarter. This is higher than the gains in the preceding (8,000) and the same
quarter last year (3,000).
|
|
Retrenchment
|
|
Retrenchment has eased further.
Preliminary findings from a survey of private sector establishments each with
at least 25 employees show that 1,700 workers were retrenched in the third
quarter of 2004, a reduction of 17% from the previous period. This marks the
fifth consecutive quarterly decline, amid an improving job market.
|
|
The goods-producing industries
accounted for 800 or 47% of the workers retrenched in the quarter. The
services-producing industries made up the other 900 or 53% of the workers laid
off.
|
|
Unemployment
|
|
The strong employment creation has
led to a significant decline in unemployment. Preliminary estimates show that
the seasonally adjusted overall unemployment rate fell to 3.4% in September
2004 from 4.5% three months back.
|
|
Among the resident1
labour force, the rate was 3.9% in September compared with 5.0% in June. This
improvement has brought the unemployment rate to around the level in 1999 when
the economy recovered from the Asian crisis. However, it still exceeds the
pre-crisis low of around 2%.
|
|
On a non-seasonally adjusted
basis, the rate dropped from a high of 5.3% in June 2004 when this year's
graduates joined the pool of job seekers, to a low of 3.1% in September 2004
when more of the graduates have secured employment.
|
|
The seasonal decline also resulted
from fewer students looking for temporary jobs as they return to school after
the mid-year vacation.
|
|
Among the resident labour force,
the non-adjusted unemployment rate was 3.5%. An estimated 62,200 residents
were unemployed in September 2004. The seasonally adjusted figure was 69,700.
|
|
The concepts, definitions and
sources of the data are contained in the attached Explanatory
Notes. The
preliminary data estimates are available online at the Ministry of Manpower’s
website: mom.gov.sg/mrsd/publication.
A more detailed breakdown of the preliminary estimates will be released in
mid- November 2004 in the Economic Survey of Singapore.
|
|
1 Comprises
Singaporeans and Singapore Permanent Residents
|
|
Charts.....
|
|
Source: Ministry
of Manpower Press Release 1 Nov 2004
|
|
Employment Situation for Third Quarter
2004 was previously known as Preliminary Employment, Unemployment and
Retrenchment estimates)
|
Singapore Employment Situation - 3rd Quarter 2004
