What's the REAL Unemployment Rate of Sporns? 20%?

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published November 29, 2008

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Resident jobless rate in September put at 3.3%
The higher figure reflects more cautious hiring sentiment amid the economic slowdown, says the Ministry of Manpower

By TEH SHI NING
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SINGAPORE'S resident unemployment rate has risen from 2.4 per cent last December to 3.1 per cent in June and an estimated 3.3 per cent in September this year, according to the latest Singapore Workforce 2008 report released by the Ministry of Manpower (MOM) yesterday.

The report, based on a mid-2008 labour force survey, said that the higher unemployment rate reflects 'more cautious hiring sentiments amid the economic slowdown'.
It also said that the less skilled remain more vulnerable to joblessness. Cleaners, clerical workers, labourers and related workers had unemployment rates significantly above the norm.
In particular, those in service and sales experienced the sharpest rise from 5.4 per cent unemployment a year ago to 6.6 per cent this time round.
By industry, unemployment rates rose for those previously employed in wholesale and retail trade, information and communications, financial services, as well as administrative and support services.
However, as more women previously outside the workforce found work, the report said, the employment rate for residents aged 25 to 64 actually rose to a new high of 77 per cent in 2008, up from 76.5 per cent in 2007.
Continued efforts to enhance older persons' employability also led to a one percentage point increase in the employment rate for those aged 55 to 64, to 57.2 per cent.
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</TD></TR></TBODY></TABLE>The higher female labour force participation rate, and a larger resident population, also explains why the resident labour force expanded 2.7 per cent from June 2007 to June 2008.
Although male labour force participation dipped slightly, overall, 65.6 per cent of residents aged 15 and over were working or seeking work, up from 65 per cent a year back.
As at June 2008, there were about 1.93 million residents in the workforce - 1.1 million men and 835,100 women.
Most of the jobs created went to resident professionals, managers, executives and technicians - known as PMETs - who typically earn more. 'There were fewer residents employed in non-PMET jobs in manufacturing and services, but more in construction,' said the report, which attributed this partly to a more educated workforce.
Median monthly income for full-time employed residents jumped 11 per cent to $2,590 this year, compared with 2007's rise of 7.7 per cent. According to the report, this 'partly reflects the spillover effect from the strong economic performance last year and the higher proportion of PMETs among employed residents in 2008'.
But adjusted for higher inflation, the growth in median monthly income was a smaller 4.6 per cent compared with 2007's 5.5 per cent.
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[Papsmearer]

U will notice that the MOM use the word "resident" and not singaporean. The term resident includes all the FT that have been given PR and those that are here on work permits. Basically, anyone living in S'pore. The real jobless rate among S'pore born is probably close to 25% or higher. Many of them have been displaced by Ft, and eventually find work overseas. Or simply drop of the stats.

 

[batman1]

There is NO jobless singaporean in red dot.
Piinkee already declare "no one will be left behind".
But on 2nd thoughts,if Pinkee words can believe ,pig can fly !!!