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Source: www.mom.gov.sg |
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Employment Situation in Fourth
Quarter 2007 |
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Employment creation hits another
record high, bringing unemployment rate down to its lowest in a
decade |
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Employment |
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The strong economy led to another
record-breaking year for employment creation in 2007. |
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Preliminary estimates show that employment
grew by 64,200 in the fourth quarter of 2007, considerably higher than
the gains of 51,500 in the same period a year ago and 58,600 in the
third quarter of 2007. This brought total employment creation in the
whole of 2007 to 236,600, far surpassing the 176,000 in 2006. |
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All major sectors registered employment
growth in 2007. The services sector saw the largest employment gains of
144,100, boosted by rapid increase in hirings across a wide range of
industries led by financial and professional services. |
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The booming construction sector added 40,900
workers, double the increase in 2006. Manufacturing employment rose by
49,400, supported by strong manpower demand in marine and offshore
engineering. |
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(In
Thousands)
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Employment Level as at Dec 07
p
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Total*
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2,732.5
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Manufacturing
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566.9
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Construction
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296.4
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Services
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1,850.7
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P: Preliminary
estimates
*: Total includes agriculture,
fishing, quarrying, utilities and sewerage
& waste management
Data
may not add up due to rounding
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Both locals and foreigners benefited
from the strong job creation. Local employment grew by 92,100 in
2007, slightly more than the gains of 90,900 in 2006. This is the
third successive year that local employment creation has set new
record highs. |
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Given the limits to the growth of
Singapore's indigenous workforce and the larger base of jobs
created, the local share of total employment created dropped from
52% in 2006 to 39% in 2007, even though the absolute gains in
employment taken up by locals increased over the period. |
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Foreign employment rose by a new high of
144,500 in 2007, enabling the economy to grow beyond the limits of
Singapore's indigenous workforce. As at December 2007, there were
900,800 foreigners forming one in three (33%) of the 2.73 million
persons employed in Singapore. The majority or two thirds (67% or
1.83 million) of the workforce were locals. |
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More..... |
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Source: www.mom.gov.sg
Press Release 31 Jan 2008 |
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Employment situation in 4th quarter
2007