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Employment Situation in 2nd Quarter 2005

Source: www.mom.gov.sg

Employment Situation In Second Quarter 2005
Preliminary estimates show strong employment growth of 27,700 in the second quarter of 2005. The employment increase is significantly higher than in the first quarter of 2005 (17,800) and the second quarter last year (10,900).
All the major sectors saw higher employment growth compared with the preceding quarter and the same quarter in 2004. Both the manufacturing and services sectors registered strong employment gains of 8,900 and 15,200 respectively. Construction employment also rose by 3,400, reaffirming the turnaround observed in the first quarter this year.
Retrenchment
Preliminary findings from a survey of private sector establishments each with at least 25 employees show that 1,900 workers were retrenched in the second quarter of 2005. This was a reduction of 12% from the quarter before and 7.5% in the same period a year ago.
The manufacturing sector laid off 1,200 or 63% of the total workers retrenched in the quarter. The remaining 700 or 37% of the layoffs were contributed by the services sector.
Unemployment
Based on preliminary estimates from the General Household Survey conducted by the Department of Statistics, the seasonally adjusted overall unemployment rate was 3.4% in June 05.
Among the resident labour force, the rate was 4.5%. This is lower than a revised 3.6% (overall) and 4.7% (resident) in the same period a year ago, but is marginally higher than 3.3% (overall) and 4.4% (resident) in March 2005.
The unemployment data for past periods obtained from the Labour Force Survey have been revised to align with the methodology used in the General Household Survey so as to improve the accuracy and comparability of the data.
Details of the change in methodology and the time series of the data before and after the revision are at Annex 1.
On a non-seasonally adjusted basis, the overall unemployment rate rose from 2.8% in March 2005 to 4.3% in June 2005, reflecting the increased job seekers as this year¡¯s batch of tertiary graduates enter the labour market.
Nevertheless, the rate was slightly lower than 4.4% in June 2004. Among the resident labour force, the non-adjusted rate was 5.6% in June 2005.
An estimated 97,200 residents were unemployed in June 2005. The seasonally adjusted figure was 78,900.
For More Information
For information on data source and coverage, as well as definitions of key concepts used in the report, please refer to the attached Explanatory Notes.
The preliminary data estimates are available online at the Ministry of Manpower¡¯s website: http://www.mom.gov.sg/mrsd/publication. A more detailed breakdown of the preliminary estimates will be released in the 2nd Quarter 2005, Economic Survey of Singapore.
More..... (Tables)
Overall Unemployment Rates (Before & After Revision) March 1992 - June 2005
Resident Unemployment Rates (Before & After Revision) March 1992 - June 2005

Source: www.mom.gov.sg Press Release 8 Aug 2005

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Wednesday

10 August 2005