Q4 jobless rate falls to 1.6% - Really?
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Singapore's Q4 jobless rate falls to 1.6%
Posted: 31 January 2008 1151 hrsSINGAPORE : Singapore's seasonally adjusted unemployment rate fell to 1.6 percent in the fourth quarter from 1.7 percent in the third as firms added new jobs across all sectors, the Ministry of Manpower said Thursday.
Supported by robust job creation, the unemployment rate dropped to a decade low, comparable to pre-Asian crisis levels.
The economy created 64,200 new jobs in the three months through December, more than the 58,600 added in the third quarter, according to the ministry's preliminary estimate.
Fourth quarter employment growth was led by a strong increase in the services industry, while the manufacturing and construction sectors also made healthy additions.
For all of 2007, the economy added a record 236,600 jobs, up from 176,000 in the previous year.
The unemployment rate averaged 2.1 percent over the course of the year, lower than 2.7 percent in 2006.
All major sectors registered employment growth in 2007.
The services sector saw the largest employment gains of 144,100, boosted by rapid increase in hirings across a wide range of industries led by financial and professional services.
The booming construction sector added 40,900 workers, double the increase in 2006.
Manufacturing employment rose by 49,400, supported by strong manpower demand in marine and offshore engineering.
Both locals and foreigners benefited from the strong job creation.
Local employment grew by 92,100 in 2007, slightly more than the gains of 90,900 in 2006.
This is the third successive year that local employment creation has set new record highs.
Given the limits to the growth of Singapore's indigenous workforce and the larger base of jobs created, the local share of total employment created dropped from 52 percent in 2006 to 39 percent in 2007, even though the absolute gains in employment taken up by locals increased over the period.
Foreign employment rose by a new high of 144,500 in 2007, enabling the economy to grow beyond the limits of Singapore's indigenous workforce.
As at December 2007, there were 900,800 foreigners forming one in three (33 percent) of the 2.73 million persons employed in Singapore.
The majority or two thirds (67 percent or 1.83 million) of the workforce were locals. - CNA/ch
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Always take such article with a pinch of salt. Media is a propaganda tool for old man lee and gang. It only publishes what they want people to know. The accuracy of their findings, figures and so on are questionable.
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Yeah, "Debtor" is now regarded as an occupation mah......
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it means that the number of people without a job for more than 6 months have increased.
they are out of the unemployment stats.
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If the employment rate of foreigners is 100%, even a record low unemployment rate of just 0.1% for Singaporeans is a national shame. Don't talk about 1.6% is low, assuming this figure is not a lie. In reality, it could be higher.
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Some of you might recall a mudder of all question I posed where i recieved no satisfactory reply. I had asked a question about the UNEMPLOYMENT RATE in this forum before. I asked what is the EMPLOYMENT RATE of SINGAPOREANS. This seemed like a simple question with only a few words and many would have thought the news had informed. Until today, I see this cna article, I only saw news about employment rate of RESIDENTS which in simplest english means PR + singaporeans. By that, there was no figure about the unemployment rate of Singaporeans , this may have surprised many who thought news had reported.
I am glad to see that CNa has finally published something reasonable :
"
As at December 2007, there were 900,800 foreigners forming one in three (33 percent) of the 2.73 million persons employed in Singapore.
The majority or two thirds (67 percent or 1.83 million) of the workforce were locals. - CNA/ch
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What took you so long to give the needful answer?
I hereby thank myself, one way or another.
I urge all to challenge and question from now onwards, for your own good. Remember, no one owes no body nothing. You have to make it happen. Lets not be complacent.
Look at the figure. Decide for yourself how much to take in .
look at the figure and see where you stand.
kllbccbtlphkhklkyhkks!
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lets say there are currently 1000 people in a country.
of this 1000 people, if minus away lets say 500 of them are students, senior citizens etc. then another 500 people are in the work force. so this is 100% employment rate. right?
then lets say, if these 500 people who are suppose to be in the work force, 50 of them are unemployed. so is 90% employment rate and 10% unemployment.
then this year, there are 100 students graduated and they join the work force. so the people in the work force should be 600. And if 600 of them are working, then the employment rate should be 100%.
then lets say, those 100 students that just graduated manage to find a job. then of the 600 people that suppose to be employed, only 550 people are currently employed. the 50 people still could not find a job.
so the employment rate should increase to 91.6% while the unemployment rate is reduce from 10% to 8.4%.
But wait, the umemployment rate is still high. So to counter this problem to make the percentage look lower, why not increase the number of people to the work force by hiring lets say 500 more FTs and giving the 500 of them jobs? The percentage of unemployment is definitely lower now. BUT the 50 people still unemployed.
To TS: the jobless rate might fall to 1.6%, the number of jobless is unknown.
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although sg has 4 million people, only 1.8 million are employed.
nearly 1 million foreigners (including PRs) are occupying sg jobs.
how diffickert are these jobs that require 'talents' ?
what is a talent? a IT person? a foreign student come here study on sponsorship who then graduated here and occupy a job here?
a engineer is a talent?
if so, wow, sg got about upto 1.8 mil talent lor is it de?
if the so, why someone said no talent to break 1 putty state?
1 putty forever like dynastic?
did u not asked for something and it came true in the your face ?
came and came like the rain.
kllbccbtlplkyks!
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Originally posted by Reddressman.:
although sg has 4 million people, only 1.8 million are employed.
nearly 1 million foreigners (including PRs) are occupying sg jobs.
You might want to get your outdated facts right before talking.
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Originally posted by Reddressman.:
Some of you might recall a mudder of all question I posed where i recieved no satisfactory reply. I had asked a question about the UNEMPLOYMENT RATE in this forum before. I asked what is the EMPLOYMENT RATE of SINGAPOREANS. This seemed like a simple question with only a few words and many would have thought the news had informed. Until today, I see this cna article, I only saw news about employment rate of RESIDENTS which in simplest english means PR + singaporeans. By that, there was no figure about the unemployment rate of Singaporeans , this may have surprised many who thought news had reported.
I am glad to see that CNa has finally published something reasonable :
"
As at December 2007, there were 900,800 foreigners forming one in three (33 percent) of the 2.73 million persons employed in Singapore.
The majority or two thirds (67 percent or 1.83 million) of the workforce were locals. - CNA/ch
"
What took you so long to give the needful answer?
I hereby thank myself, one way or another.
I urge all to challenge and question from now onwards, for your own good. Remember, no one owes no body nothing. You have to make it happen. Lets not be complacent.
Look at the figure. Decide for yourself how much to take in .
look at the figure and see where you stand.
kllbccbtlphkhklkyhkks!
I hope you have also remembered my calculations from the Sep 2007 statistics which you have vehemently shot down without any analysis and calculations on your part at all.
Originally posted by eagle:
Again, with regards to statistics, supposed 100% of all PRs and foreigners are employed, then for the whole economy, we could break down as follows:
880k foreigners (non-residents) employed
500k PRs employed
1204k Singaporeans employed and 46k unemployedI'm pretty sure now that my calculations of 880k from the Sep 2007 was a very good estimate now, as compared to the value of 900k as of Dec 2007, in which CNA has pointed out.
It was only to you that no reply was satisfactory. The news do not report, but the statistics are there for you to calculate if you want to. Remember, your original question was
Originally posted by reddressman:I like to know,
from this sgforums,
a basic question,
who knows what is the employment or unemployment of CITIZENS?
This means not RESIDENTS per se.
Lets see how long this puzzle need to wait for THE Answer.
Give the people of this forum an answer,
IF you are capable of doing so.
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Originally posted by HyperFocal:
Singapore's Q4 jobless rate falls to 1.6%
Posted: 31 January 2008 1151 hrsSINGAPORE : Singapore's seasonally adjusted unemployment rate fell to 1.6 percent in the fourth quarter from 1.7 percent in the third as firms added new jobs across all sectors, the Ministry of Manpower said Thursday.
Supported by robust job creation, the unemployment rate dropped to a decade low, comparable to pre-Asian crisis levels.
The economy created 64,200 new jobs in the three months through December, more than the 58,600 added in the third quarter, according to the ministry's preliminary estimate.
Fourth quarter employment growth was led by a strong increase in the services industry, while the manufacturing and construction sectors also made healthy additions.
For all of 2007, the economy added a record 236,600 jobs, up from 176,000 in the previous year.
The unemployment rate averaged 2.1 percent over the course of the year, lower than 2.7 percent in 2006.
All major sectors registered employment growth in 2007.
The services sector saw the largest employment gains of 144,100, boosted by rapid increase in hirings across a wide range of industries led by financial and professional services.
The booming construction sector added 40,900 workers, double the increase in 2006.
Manufacturing employment rose by 49,400, supported by strong manpower demand in marine and offshore engineering.
Both locals and foreigners benefited from the strong job creation.
Local employment grew by 92,100 in 2007, slightly more than the gains of 90,900 in 2006.
This is the third successive year that local employment creation has set new record highs.
Given the limits to the growth of Singapore's indigenous workforce and the larger base of jobs created, the local share of total employment created dropped from 52 percent in 2006 to 39 percent in 2007, even though the absolute gains in employment taken up by locals increased over the period.
Foreign employment rose by a new high of 144,500 in 2007, enabling the economy to grow beyond the limits of Singapore's indigenous workforce.
As at December 2007, there were 900,800 foreigners forming one in three (33 percent) of the 2.73 million persons employed in Singapore.
The majority or two thirds (67 percent or 1.83 million) of the workforce were locals. - CNA/ch
please take note of the words in red...seasonally adjusted..
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the jobless rate fell obviously because in Q3, there are lots of uni and poly grads who just graduated and are jobless. In Q4, only some of them found a job so the jobless rate fell 1.6% and not 5%.
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are anyone not literate here?
you can clearly tell the difference in reporting between the report of last time and the current report.
it makes a world of difference.
its clear now the employment situation of singaporeans.
I urge all young people to join me to challenge reports if there is room for improvement. as no one owes no one a living, we as information receivers, should depend on ourselves to demand for clear information.
last time, if I tell you, the employment rate for RESIDENTS is 5% unemployed, even if you have 1 million phd, I bet you oso cannot tell me based on that how many singaporeans actually are employed even in percentage.
that is my main point.
we must demand the right to have clear and transparent information. No one owes no body nothing. that is, if you do nothing about things, nothing in terms of improvement will happen. Its just like if you go to some department and ask for some related information and they know but they conveniently say they don't and ask you to refer to another department or they act blur say no no when in fact they know.
if you don't demand, people will take it that you dont want that info.
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are you unemployed ?
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people should have more confidence in the power of collective demanding. something good may come out of it.
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Reddressman, you have these to answer to yourself
1) I've showed you how you can contact the MP at the meet the people session to demand whatever information you need. You have yet to give a satisfactory reply as to why you do not want to do so, yet continuously demand information. Why is it so?
2) The information is out there, and my calculations and analysis have been proven by CNA. It is only people like you with minimal analytical powers that cannot comprehend readily available information, and yet want to complain without thinking.
3) Have you or have you no idea on how many fresh graduates there are in Q3 looking for a job from both uni and poly? Do you know that it can easily reach 0.2% or more of the labour force, or do you still need us to do calculations for you?
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Can hear the losers ranting again about foreign talent. If it is not for these foreigners who are willing to do the jobs Singaporeans shun, our economy will suffer and inflation will be higher. This kind of illogical whining is reminiscent of the DPP in Taiwan blaming the state of their economy on taiwanese investments in China. Unfortunately, there are just as many fools in Singapore who lack any brains and would parrot what others say
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Originally posted by oxford mushroom:
Can hear the losers ranting again about foreign talent. If it is not for these foreigners who are willing to do the jobs Singaporeans shun, our economy will suffer and inflation will be higher. This kind of illogical whining is reminiscent of the DPP in Taiwan blaming the state of their economy on taiwanese investments in China. Unfortunately, there are just as many fools in Singapore who lack any brains and would parrot what others say
OM , with utmost due respect, being a learned person and especially a medical doctor, you must surely know that foreigners who are doing jobs that Singaporeans shun are not FTs , they are FOREIGN WORKERS.
FTs and FWs are different unless you are accusing the government of being so dumb that they cannot differentiate between both.
Unfortunately now , the last statement seems to apply to the preacher.
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Black cat or white cat...the one that catches the mice is a good cat. Foreign talents or foreign workers, those that take up the jobs that Singaporeans shun and so contribute to our economy are to be lauded.
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Originally posted by oxford mushroom:
Black cat or white cat...the one that catches the mice is a good cat. Foreign talents or foreign workers, those that take up the jobs that Singaporeans shun and so contribute to our economy are to be lauded.
Stay focused on the FT issue . It is not an FW issue - we all know that FW take up jobs that Singaporeans don't want. However FTs take up jobs that Singaporeans want and there are issues of undercutting locals whilst on the other spectrum , you have overpaid FTs in jobs Singaporeans would love to have.
I am disappointed with your apparent inability to stay on the issue . Being a doctor , I would expect your statements to be intelligible.
As for your superfluous cat analogy: You don't seem to display any faith for your own people. That is why one former FT is right : Singaporeans work against each other instead of working together. The ones who want a better Singapore for all are forced to work against the Singaporeans, like you, who just want to profit from the minute with your cheap labour.
And one more thing , there are cases of FT who are paid so well and leave Singapore with a golden handshake without any real contribution when a Singaporean could probably do the job and contribute more. It is the case of buying a ragdoll cat to catch the mice instead of getting an ordinary moggie to catch mice- thanks to our policy makers.
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Originally posted by oxford mushroom:
Can hear the losers ranting again about foreign talent. If it is not for these foreigners who are willing to do the jobs Singaporeans shun, our economy will suffer and inflation will be higher. This kind of illogical whining is reminiscent of the DPP in Taiwan blaming the state of their economy on taiwanese investments in China. Unfortunately, there are just as many fools in Singapore who lack any brains and would parrot what others say
if you din have the goodie lobang from selling white puppys, i am sure you doon stand a chance competing with FTs.now, you talk so big like that like everyone is lousy and you are so schoorastic. doon schoo too much.
take away all links and connections , I am sure you doon even stand a chance.
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more FTs get job=less sporeans do......
i think its very irritating to have FTs who dun even know how to speak english serve you at the counter.....
got once i ordered something and the bloody PRC who dun speak english dunno how to call her superior or something...instead i have to look at her superior myself.....
wtf man....dun come here and make this country china lah......
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it means 1.6% has being jobless for more than 6 months and thus being included in the 'jobless by choice' category.. .:D
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Originally posted by 4getmenot:
it means 1.6% has being jobless for more than 6 months and thus being included in the 'jobless by choice' category.. .:D
jobless by choice for more than a few months (cannot remember exactly how many) is not considered as part of the labour force, and hence not even considered under employed or unemployed.
An economy is considered to be at full employement at such low percentages is because of people switching jobs, people looking for jobs at the moment after graduation, etc. These people need time, and thus may in this quarter be considered as unemployed. At any point of time, there will always be such people.
Of course, the unemployed also include those who find it perpetually hard to get a stable income.