UNEMPLOYMENT RATE RISES, HOW MANY S’POREANS ARE BADLY AFFECTED?

Unemployment rises

According to the Straits Times news report “Employment growth rebounds in second quarter but unemployment rises” (Jul 30) – “Unemployment rose after trending down over the past 12 months. The seasonally-adjusted rate was 2 per cent overall, from 1.8 per cent in the first quarter of the year. The rate for citizens 2.9 per cent, or 56,100 people.”

Why always never disclose unemployment rate of PRs and foreigners?

Although the unemployment rate for PRs and foreigners, and the breakdown of the local employment into Singaporeans and PRs, are not disclosed in the MOM report – I have derived estimates for the following, using the data in the report:-

… unemployment rate of PRs – 2.2 per cent (Singaporeans – 2.9 per cent)

… unemployment rate of foreigners – 0.7 per cent

… proportion of PRs in the local workforce – 13.5 per cent

… proportion of unemployed PRs to unemployed locals – 10.8 per cent

So, on a relative basis – there were more unemployed Singaporeans to unemployed PRs.

The unemployment rate of Singaporeans is also much higher than PRs and foreigners.

84,700 unemployed + long-term unemployed + under-employed, etc?

As to “”Our employment rate is one of the highest globally while our unemployment rate is one of the lowest. We must strive to keep it this way for as long as we can” and ”An estimated 84,700 residents, including 75,200 Singapore citizens were unemployed in June 2015″ – if we factor in the long-term unemployed (who are not mentioned in the subject MOM report), the under-employed, part-time for economic reasons and economically inactive Singaporeans – there may be much more Singaporeans who can’t get a job or a decent paying job.

Win battles lose war

Check Also

Elderly With 1.5 Yrs to Live Asked his MP for Help, Only Given $200

Mr Rossi has depleted his life savings as CPF board does not allow any further withdrawal beyond the permitted limit. His wife is long-term bedridden and only son has lost his job during the Covid-19 period.