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     FrontPage Edition: Tue 31 July 2007

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Employment situation in 2nd Quarter 2007



Continued record employment growth with sharp fall in unemployment

Preliminary estimates show that total employment grew by a record quarterly high of 61,900 in the second quarter of 2007, as the economy continued its strong growth.
This is substantially higher than the increase of 49,400 in the previous quarter and 36,400 in the same quarter a year ago.
Employment grew in all the major sectors, led by services which added 33,600 workers. Manufacturing posted gains of 16,600, higher than earlier quarters.
Driven by the strong rebound in building activities, construction increased its workforce by 11,400, more than double the gains in the previous quarter.

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Preliminary findings show that 1,600 workers were retrenched in the second quarter of 20071.
This is lower than the 1,964 retrenched in the previous quarter and about half the 3,263 retrenched in the same quarter a year ago.
The majority of the workers were retrenched from manufacturing (1,100), reflecting the on-going restructuring in the electronics industry. Another 500 of the workers laid off came from the services industries.

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With the robust employment gains, the seasonally adjusted overall unemployment rate declined to 2.4% in June 2007 from 2.9% in March 2007 and 2.7% in Jun 2006.
The resident unemployment rate also fell to 3.2% in June 2007 from 4.0% in March 2007 and 3.5% in June 2006.
The last time that unemployment rate fell below this was in June 2001 (overall: 2.2% and resident: 3.1%) before the labour market felt the full impact of the 2001 economic downturn.

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On a non-seasonally adjusted basis, the overall unemployment rate rose from 2.5% in March 2007 to 3.0% in June 2007, reflecting the increase in job seekers as this year¡¯s batch of tertiary graduates entered the labour market and students looked for work during the mid-year school vacation.
Nevertheless, the rate is lower than 3.4% in June 2006. Among the resident labour force, the non-adjusted unemployment rate was 4.2%, also higher than 3.4% in March 2007 but lower than 4.5% in the same period a year ago.
An estimated 79,600 residents were unemployed in June 2007. The seasonally adjusted figure was 63,000.
For More Information
For information on data sources 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:
A more detailed breakdown of the preliminary estimates will be released in the Economic Survey of Singapore, Second Quarter 2007.
The above is a statistical release of the Manpower Research and Statistics Department of the Ministry.
Upcoming Publications
The Ministry¡¯s Manpower Research and Statistics Department will be releasing the report on the Labour Market 2nd Quarter 2007 on 14 September 2007.
1 Data pertain to private sector establishments (each with at least 25 employees) and the public sector.

Source: Press Release 31 Jul 2007

Related Article:
- Employment situation in 1st quarter 2007

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