Singapore's employment rebounds to new high

13:49, November 30, 2010      

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Singapore's proportion of the resident population in employment rebounded to a new high this year, increasing from 65.4 percent in 2009 to 66.2 percent in 2010, according to the latest figures from the Ministry of Manpower released on Tuesday.

The proportion of residents aged 25 to 64 in employment rebounded to a new high of 77.1 percent in 2010 from 75.8 percent in 2009, after falling by 1.2 percentage points from the preceding year due to the economic downturn.

According to the ministry, improvement in employment rate was broad-based.

A record 71.7 percent women in the prime-working ages of 25 to 54 were working in 2010, up notably from 69.4 percent in 2009.

Nevertheless, their employment rate was still below the 92.4 percent for prime-working age men, which increased from 91.6 percent in 2009.

The employment rate for older residents aged 55 to 64 rose to a new high of 59.0 percent in 2010, after holding steady at 57.2 percent over the past two years.

The median monthly income from work of residents in full-time employment rose by 4.2 percent over the year to 2,710 Singapore dollars (2,048.7 U.S. dollars ) in 2010, faster than the marginal growth of 0.5 percent in 2009.

Supported by the economic recovery, the resident unemployment rate and number improved significantly from a seasonally adjusted 4.5 percent or 90,300 in June 2009 to 3.2 percent or 65,500 in June 2010.

The Singapore economy is expected to grow by around 15.0 percent in 2010, making the country one of the fastest growing economies in 2010.



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