Youth unemployment is a problem for any country, which is why governments try their best to keep such figures to a minimum.
So it comes as a shock when according to the Economist Intelligence Unit (EIU), the latest youth unemployment rate in Singapore is at 10.9%. That puts Singapore on par with South Korea.
Youth unemployment is the share of the labour force aged 15-24 without work but available for and seeking employment.
However, according to the Ministry of Manpower website, the “Annual Average Resident Unemployment Rate by Sex, Age, and Highest Qualification Attained” showed that youth unemployment is only at 6.7%. The figures, which go all the way back to 1992, show that youth unemployment never exceeded 10%, with the highest recorded being 9.3% in 2003.
According to The Middle Ground, the Ministry of Manpower has declined to comment on the EIU’s data and responded to the discrepancy by saying that MOM’s data conforms to International Labor Organization standards.
What do you think?