Blurred defocused abstract background of people walking on the street in Orchard Road in Singapore – Crowded city center during rush hour in urban business area zebra crossing – View from building top (Photo by View Apart from Shutterstock.com)

The median income of full-time employed residents has continued to grow according to the Ministry of Manpower (MOM). Since 2013, the median income has risen by 3.5% to S$4,437, which is significantly higher than the 1.9% rise in the previous five years (2008-2013). That’s $4,437 including employer CPF contributions, which means the median take-home pay after deducting CPF contributions is $3,549.60.

In their recently released labour force report, MOM stated that lower income earners are also experiencing faster income growth at 4.2% compared to median workers (3.5%), which is narrowing the income gap. This is attributed to tighter labour market regulations due to foreign workforce policy adjustments and other policy measures such as employment credits and the progressive wage model.

One has to note that the statistics used in the MOM’s report, are pertain to the resident population, comprising Singapore citizens and permanent residents. Therefore it does not make a distinction between the two and might explain the disbelief some Singaporeans have, of the report.

Part-time employed residents (up to 35 hours a week), however, had no increase in their income (excluding employer CPF contribution) last year. This means that after adjusting for inflation – they had a negative real increase in income. For Singaporeans being mingled with PRs statistics, may fare even worse.

(Image from Comprehensive Labour Force Survey by Manpower Research & Statistics Department, MOM)

As for unemployment, the report showed that unemployment rates for professionals, managers, executives, and technicians (PMET) decreased for a second successive year to 2.9% in 2018 from 3% the previous year. The decline was a little better for non-PMETs, from 4.5% in 2017 to 4% this year.

(Image from Comprehensive Labour Force Survey by Manpower Research & Statistics Department, MOM)

While the unemployment rate for PMET over 50 softened a little this year, the long term unemployment rates that same group rose by from 1.1% to 1.5% in 2018. The report suggested that while PMETs over 50 benefitted from improved labour market conditions, there are still those who face difficulty in re-entering the workforce.

MOM also noted, however, that a higher number of older workers have returned to the workforce as the employment rate for residents ages 65 and over continue to rise from 25.8% in 2017 to 26.8% in 2018.

This has helped to offset the impact of ageing on the labour force participation rate which has broadly stabilised in the recent four years (67.7% in June 2018), following an earlier uptrend.

Over all, employment rates for residents ages 25 – 64 were around 80% which places Singapore 4th among OECD economies in terms of full-time employment (8th overall).

Essentially, the report shows that the local labour market has improved in the past year as the economy has picked up. But the ageing population is putting pressure on the workforce participation rate. Basically, there’s not enough young people entering the workforce to counter the amount of older people leaving the workforce.

You can find the preliminary report on the Comprehensive Labour Force Survey conducted by MOM on their website.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
You May Also Like

Notices put up at Sungei Tengah Lodge asking residents to refrain from using public transportation; LTA clarified that there is no such restrictions

It was brought to our attention that notices recently went up at…

STB introduces COVID-19 risk management framework trials; To be conducted on 2 pilot business events

A risk management framework has been developed by the Singapore Tourism Board…

撑杆跳选手杨冰洁 失望田总未把杨志彬列东运会随团教练名单

我国撑杆跳纪录保持者杨冰洁(Rachel Yang)的教练杨志彬(David Yeo),并没有列入随团教练名单中,恐无法与杨冰洁一同远征在菲律宾举行的东南亚运动会。 杨冰洁因优异的体育成绩有幸参与多项重要赛事,如历年东南亚运动会、2010年的亚洲运动会、2018年大英国协会运动会等,而其教练兼丈夫杨志彬亦是一路相随。 据悉,新加坡田径总会(SA)在日前公布的八名田径教练名单中未包括杨志彬,但却由前七项全能女将余龙女出任跳高选手教练一职,会由她负责照看跳高选手Kampton Kam, Michelle Sng和杨冰洁。 杨冰洁告知《海时》:“我对于我的教练并不在教练名单内而感到震惊,对于跳高项目,尤其是撑杆跳项目,教练的回馈起了很重要的影响,例如起飞的精准度、起始高度的选择、高度、竿的类型、把握高度以及立柱的位置都很有可能影响其安全性与成绩。”选手全面着想。事实上,杨冰洁与田总关系一直水火不容,她曾与2014年透过脸书申诉田径总会,以致田总指控她诽谤。 对此,田总执行董事马利克(Syed Abdul Malik…

提供全职选择 增设兼职机会 工作试用计划开办职业展

为协助求职者找到适合工作,劳动力发展局(Workforce Singapore,简称WSG)自5月开始为工作试用计划扩大范围,于昨日(7月2日)和今日(7月3日)举办的“应变与提升计划职业展” (Adapt and Grow Career Fair)中,除了提供全职工作,也提供兼职工作的选择。 有关的职业展在大巴窑建屋发展局中心举行,时间为早上10时开始至晚上8时。 参展公司多达34家,其中有滨海湾金沙、零售商阁室(COURTS)以及美国知名休闲鞋Skechers,而未能亲临现场的公司有12家。其余12家公司也使用WSG首次推出的隔空面试方式,使用视频通话来与求职者进行面试。 此次职业展提供了1500个就业机会。 政府提供补贴奖励金 工作试用计划是于去年4月推出,乃WSG应变与提升计划(Adapt…