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

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An honorable member of the Coffee Shop Has Just Posted the Following:

http://www.tremeritus.com/2015/08/14...-employed-etc/

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


August 14th, 2015 |
Author: Contributions





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 never disclose unemployment rate for 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 many more Singaporeans who can’t get a job or a
decent paying job.

Win battles lose
war

* Submitted by TRE reader.


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