Archive for July, 2007
Singapore’s Jobless Rate At Six-Year Low Of 2.4% In June
SINGAPORE: Singapore’s jobless rate fell to a seasonally adjusted 2.4 per cent in June, a six-year low, according to preliminary estimates released by the Ministry of Manpower on Tuesday.
The jobless rate in June was lower than the 2.9 per cent in March.
Employment rose by 61,900 in the three months to the end of June, the MOM report said.
This was 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, the construction sector increased its workforce by 11,400, more than double the gains in the previous quarter.
MOM preliminary findings also showed that 1,600 workers were retrenched in the second quarter of this year.
This was lower than the 1,964 laid off in the previous quarter and about half the 3,263 retrenched in the same quarter in 2006.
“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,” said the MOM report.
But given the positive overall employment figures, the labour movement believes it is a good time to tap on two groups - mature workers and women.
Cham Hui Fong, Industrial Relations Director at NTUC, said: “A lot of older people may be aspiring to work. They’re willing and they’re able to still contribute to the economy so we should also look at avenues and opportunities to see how we could bring them back into the workforce.
“To raise their children, a lot of women also end up leaving the workforce. We have just formed a committee to look at new strategies and solutions to bring these women back and to change the mindset of employers.”
Going forward, union leaders and economists are confident the strong figures will be sustainable.
- CNA/ir/so
Channel News Asia