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| SINGAPORE - The Ministry of Manpower (MOM) today announced that Singapore has one of the highest employment rates internationally. According to a report released by the Manpower Research and Statistics Department and the Singapore Department of Statistics, nearly eight in ten (77 per cent) Singaporeans aged 25 to 64 were employed in 2010. The unemployment rate among citizens declined to pre-recessionary levels of 3.1 per cent in June 2011, down from a high of 4.5 per cent in 2009.
 This surpasses economies such as Hong Kong, Taiwan, South Korea, Japan, the United States, Canada and the United Kingdom. Although employment rate reached new highs for women in the prime-working age of 25 to 54 and older citizens aged between 55 and 64, employment rate older citizens still fell behind Japan, South Korea and the United States and for women of that age sector remained lower than in many economies. According to the figures, more Singaporeans are better qualified and holding higher skilled jobs today.
Attributing this to the "continued emphasis and investment in education, MOM said "Nearly one in four (23 per cent) citizens employed in 2010 were degree holders, up from 14 per cent in 2001. Including those with diploma and professional qualifications, the share was 41 per cent compared with 28 per cent in 2001. Close to one in two (49 per cent) citizens employed in 2010 were in professionals, managerial, executive & technical (PMET) jobs, up from 42 per cent in 2001. The incomes of Singaporean citizens are up over the decade, but not across all income groups. The 20th percentile or the bottom fifth of Singapore citizens have seen their incomes stagnate after taking inflation into account.
While citizens' nominal incomes rose by 17 per cent from $1,200 in 2001 to $1,400 in 2010, real incomes rose only 0.3 per cent over the decade. However, real median incomes - those of Singaporeans in the middle - have risen 10.9 per cent over the decade. Sources: http://business.asiaone.com/Business/News/Story/A1Story20111011-304467.html | ||
