Singapore Resident Labour Force Grows With Higher Participation Among Women and Seniors
The resident employment rate reached a new high in Singapore, reflecting the strong employment creation and the rise in labour force participation among women and older residents. These are the key findings from the “Singapore Workforce, 2012” report by the Ministry of Manpower’s Research and Statistics Department, based on the 2012 Comprehensive Labour Force Survey conducted in the middle of this year.
The resident labour force rose by 1.9% over the year to 2.12 million in June 2012, up from the growth of 1.6% in 2011.
With the rise in the labour force participation rate and continued strong employment creation, the employment rate rose to another new high. The percentage of the resident population (with ages 25-64) who are working also rose to 78.8 percent, compared to last year’s 78 percent.
Meanwhile, the employment rate for older residents increased at a faster pace, amid the tight labour market and measures to improve the employability of older residents, including the implementation of the re-employment legislation and the enhanced Special Employment Credit earlier this year. MOM said that 64 per cent of residents aged 55 to 64 were employed in 2012, higher than 61.2 percent last year.
Both professionals, managers, executives & technicians (PMETs) and non-PMETs experienced employment gains over the year.Driven by the strong increase in clerical, sales & service workers, (which outweighed the decrease in production & related workers) resident non-PMET employment increased by 2.7 percent in 2012, faster than the growth of 1.5 per cent for PMETs. Consequently, the PMET share of resident employment dipped from 52.2 percent in 2011 to 51.9 percent in 2012.
However, based on MOM’s research, income growth has also moderated, amid the weaker economic conditions.The median monthly income from work (including employer CPF contributions) of full-time employed residents rose by 7.1 per cent over the year to $3,480 in 2012, down from the growth of 8.3 per cent in 2011.
A total of 28,708 households in Singapore responded to the survey of MOM, achieving a response rate of 91.6 percent. A full report of the survey findings will be published in the “Labour Force in Singapore, 2012” on January 31, 2013.