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Source:
www.mom.gov.sg |
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EMPLOYMENT SITUATION IN SECOND QUARTER 2007: |
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Continued record employment growth with sharp
fall in unemployment |
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Employment |
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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. |
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This is substantially higher than the
increase of 49,400 in the previous quarter and 36,400 in the same
quarter a year ago. |
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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. |
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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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Retrenchment |
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Preliminary findings show that 1,600
workers were retrenched in the second quarter of 20071. |
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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. |
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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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Unemployment |
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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. |
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The resident unemployment rate also
fell to 3.2% in June 2007 from 4.0% in March 2007 and 3.5% in June
2006. |
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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. |
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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. |
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An estimated 79,600 residents were
unemployed in June 2007. The seasonally adjusted figure was
63,000. |
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For More Information |
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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. |
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The preliminary data estimates are
available online at the Ministry of Manpower¡¯s website:
http://www.mom.gov.sg/mrsd/publication. |
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A more detailed breakdown of the
preliminary estimates will be released in the Economic Survey of
Singapore, Second Quarter 2007. |
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The above is a statistical release of
the Manpower Research and Statistics Department of the Ministry. |
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Upcoming Publications |
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The Ministry¡¯s Manpower Research and
Statistics Department will be releasing the report on the Labour
Market 2nd Quarter 2007 on 14 September 2007. |
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More.... |
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1
Data pertain to private sector establishments (each with at least
25 employees) and the public sector. |
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Source:
www.mom.gov.sg Press Release 31 Jul 2007 |
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Related Article: |
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-
Employment situation in 1st quarter 2007 |
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FrontPage Edition: Tue 31 July 2007
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