From the #1 to #z workforce!
<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published March 23, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S'pore scores low in labour productivity
Manufacturing labour productivity in other developed economies higher: US Labor Dept
By CHUANG PECK MING
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</TD></TR><TR class=caption><TD></TD></TR></TBODY></TABLE>Hourly labour output in manufacturing here fell sharply in 2007 while productivity in most developed economies rose.
The saving grace is Singapore's unit labour costs. In fact, these have declined in local currency terms in recent years,
=> Penny wise pound foolish!
keeping Singapore manufacturers competitive - although a weak US dollar has blunted this to some extent.
Singapore's low productivity is probably the price of high employment.
=> Of who? FTrash?
Figures compiled by the US Labor Department's Bureau of Statistics show Singapore made the biggest employment gains among 17 economies in the period 2000-07, expanding an average rate of 3.5 per cent a year.
In 2007, employment here jumped 9.9 per cent from the year before. Norway, the second biggest job creator, saw employment climb 5 per cent.
<TABLE cellSpacing=0 cellPadding=5 align=left border=0><TBODY><TR><TD bgColor=#ffffff>[FONT=Geneva, Helvetica, Verdana, Arial, sans-serif]<!-- REPLACE EVERYTHING IN CAPITALS WITH YOUR OWN VALUES --><TABLE class=quoteBox cellSpacing=0 cellPadding=0 width=144 align=left border=0><TBODY><TR><TD vAlign=bottom>
</TD></TR><TR><TD bgColor=#fffff1><TABLE cellSpacing=0 cellPadding=0 width=124 align=center border=0><TBODY><TR><TD vAlign=top>Singapore's low productivity is probably the price of high employment. It made the biggest employment gains in 17 economies in 2006-07.
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</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>Still, among 17 developed economies that include the US, Japan, Germany, Taiwan and South Korea, the Labor Department says in its report that Singapore posted 'the largest reversal from high manufacturing productivity growth rates in the 1990s to the steepest decline in 2007'.
Singapore's manufacturing output per hour jumped by an average 6.9 per cent a year in 1990-95 and 6.5 per cent in 1995-2000. Only South Korea performed better, with average annual increases of 9.4 and 10.8 per cent respectively in these two periods.
But from 2006 to 2007, Singapore's manufacturing labour productivity - included for the first time in the annual comparison - fell 4 per cent. This was the sharpest decline among three economies in which productivity slipped.
'Singapore's productivity decline significantly exceeded the declines in Italy (-0.5 per cent) and Norway (-0.2 per cent),' the report says. South Korea and Taiwan - Singapore's closest competitors - posted the biggest productivity jumps (+8.7 per cent), followed by Germany (+4.9 per cent).
US manufacturing labour productivity rose by an average of 5 per cent a year in 2000-07, even though output largely held steady. The report says the gains were due mainly to Americans working fewer hours. Total hours worked in the US in the period 2000-07 slipped by an average of 3.1 per cent a year. And the report says that to a lesser degree this was also the case in European manufacturing sectors.
In Korea and Taiwan, improvements in manufacturing labour productivity in 2000-07 were driven largely by higher output, which jumped by annual averages of 6.9 and 5.7 per cent respectively - the highest and second-highest among the 17 economies. Working hours in Korea and Taiwan dipped by an average of 0.6 per cent a year during the period.
Manufacturing output increased in 16 of the 17 economies in 2007. Taiwan was the leader in output growth at 10.4 per cent. Along with Germany (+6.1 per cent) and Norway (+5.3 per cent), Singapore's output rose 5.8 per cent in 2007, while Korea's increased 6.5 per cent, according to the report. Canada was the only economy in which manufacturing output fell in 2007 - down 0.9 per cent.
Singapore's working hours saw the biggest jump (up 10.2 per cent in 2007) while Canada's dropped the most (down 3.5 per cent). Working hours in 10 of the 17 economies increased in 2007.
For 2000-07, total hours worked in manufacturing declined in 16 of the 17 economies. The UK saw the sharpest decline, down 3.9 per cent. Singapore, up 3.7 per cent, was the only economy that extended its working hours.
Hourly labour compensation in local currency terms rose in 15 of the 17 economies in 2007, the report says. Singapore and Japan were the exceptions. Singapore's hourly pay fell 4.2 per cent, while Japan's slipped 0.2 per cent. For 2000-07, hourly compensation in Singapore rose by an average of just 0.1 per cent a year.
Expressed in local currency terms, unit labour costs increased in 10 economies in 2007 and fell in seven. The biggest decline (-5.2 per cent) was in Taiwan and the largest increase (+5 per cent) was in Norway. Singapore's unit labour costs fell 0.2 per cent.
But translated to weaker US dollars, Singapore's unit labour costs jumped 5.4 per cent. This put it at a competitive disadvantage against Taiwan (-1.1 per cent), Korea (+2.7 per cent) and even Japan (-1.2 per cent).
For 2000-07, Singapore was among only five economies in which unit labour costs fell in local currency terms. Unit labour costs here fell by an annual average of 1.6 per cent during the period. Taiwan's tumbled the most, by an annual average of 3.8 per cent.
In US dollar terms, Singapore's unit labour costs rose an average 2 per cent a year in 2000-07 - against declines of 1.3 and 0.7 per cent for Japan and Taiwan respectively, and an increase of 2.8 per cent for Korea. [/FONT]
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<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published March 23, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S'pore scores low in labour productivity
Manufacturing labour productivity in other developed economies higher: US Labor Dept
By CHUANG PECK MING
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
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</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>SINGAPORE'S labour productivity in manufacturing is poor compared with other developed economies, according to a study by the United States Department of Labor.<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD></TD></TR></TBODY></TABLE>Hourly labour output in manufacturing here fell sharply in 2007 while productivity in most developed economies rose.The saving grace is Singapore's unit labour costs. In fact, these have declined in local currency terms in recent years,
=> Penny wise pound foolish!
keeping Singapore manufacturers competitive - although a weak US dollar has blunted this to some extent.
Singapore's low productivity is probably the price of high employment.
=> Of who? FTrash?
Figures compiled by the US Labor Department's Bureau of Statistics show Singapore made the biggest employment gains among 17 economies in the period 2000-07, expanding an average rate of 3.5 per cent a year.
In 2007, employment here jumped 9.9 per cent from the year before. Norway, the second biggest job creator, saw employment climb 5 per cent.
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Singapore's manufacturing output per hour jumped by an average 6.9 per cent a year in 1990-95 and 6.5 per cent in 1995-2000. Only South Korea performed better, with average annual increases of 9.4 and 10.8 per cent respectively in these two periods.
But from 2006 to 2007, Singapore's manufacturing labour productivity - included for the first time in the annual comparison - fell 4 per cent. This was the sharpest decline among three economies in which productivity slipped.
'Singapore's productivity decline significantly exceeded the declines in Italy (-0.5 per cent) and Norway (-0.2 per cent),' the report says. South Korea and Taiwan - Singapore's closest competitors - posted the biggest productivity jumps (+8.7 per cent), followed by Germany (+4.9 per cent).
US manufacturing labour productivity rose by an average of 5 per cent a year in 2000-07, even though output largely held steady. The report says the gains were due mainly to Americans working fewer hours. Total hours worked in the US in the period 2000-07 slipped by an average of 3.1 per cent a year. And the report says that to a lesser degree this was also the case in European manufacturing sectors.
In Korea and Taiwan, improvements in manufacturing labour productivity in 2000-07 were driven largely by higher output, which jumped by annual averages of 6.9 and 5.7 per cent respectively - the highest and second-highest among the 17 economies. Working hours in Korea and Taiwan dipped by an average of 0.6 per cent a year during the period.
Manufacturing output increased in 16 of the 17 economies in 2007. Taiwan was the leader in output growth at 10.4 per cent. Along with Germany (+6.1 per cent) and Norway (+5.3 per cent), Singapore's output rose 5.8 per cent in 2007, while Korea's increased 6.5 per cent, according to the report. Canada was the only economy in which manufacturing output fell in 2007 - down 0.9 per cent.
Singapore's working hours saw the biggest jump (up 10.2 per cent in 2007) while Canada's dropped the most (down 3.5 per cent). Working hours in 10 of the 17 economies increased in 2007.
For 2000-07, total hours worked in manufacturing declined in 16 of the 17 economies. The UK saw the sharpest decline, down 3.9 per cent. Singapore, up 3.7 per cent, was the only economy that extended its working hours.
Hourly labour compensation in local currency terms rose in 15 of the 17 economies in 2007, the report says. Singapore and Japan were the exceptions. Singapore's hourly pay fell 4.2 per cent, while Japan's slipped 0.2 per cent. For 2000-07, hourly compensation in Singapore rose by an average of just 0.1 per cent a year.
Expressed in local currency terms, unit labour costs increased in 10 economies in 2007 and fell in seven. The biggest decline (-5.2 per cent) was in Taiwan and the largest increase (+5 per cent) was in Norway. Singapore's unit labour costs fell 0.2 per cent.
But translated to weaker US dollars, Singapore's unit labour costs jumped 5.4 per cent. This put it at a competitive disadvantage against Taiwan (-1.1 per cent), Korea (+2.7 per cent) and even Japan (-1.2 per cent).
For 2000-07, Singapore was among only five economies in which unit labour costs fell in local currency terms. Unit labour costs here fell by an annual average of 1.6 per cent during the period. Taiwan's tumbled the most, by an annual average of 3.8 per cent.
In US dollar terms, Singapore's unit labour costs rose an average 2 per cent a year in 2000-07 - against declines of 1.3 and 0.7 per cent for Japan and Taiwan respectively, and an increase of 2.8 per cent for Korea. [/FONT]
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