SINGAPORE: Singapore’s employment figures have reached a record high this year, due mainly to job gains among women and older residents.

Findings from a Manpower Ministry Labour Force Survey showed that as of June, 62.6% of the resident population, or 1.9 million people, aged 15 and above were employed. The figure was the highest ever recorded since the survey began in 1991.

The employment rate for women in the prime-working age of 25 to 49 rose to a new high of 70.8 per cent this year, while that for older residents aged 55 to 64 reached the highest ever of 56.2 per cent.

The employment rate for those aged 25 to 64 also edged up, from 75.5 per cent a year ago to a new record of 76.5 per cent.

Of the 1,918,000 employed, 1,100,100 were men and 818,100 women.

Continuing a trend from 10 years ago, most jobs created for residents went to professionals, managers, executives and technicians.

Amid the tight labour market, the median monthly income for full-timers rose over the year by 7.7 per cent to S$2,330 in June 2007. But this was still lower than the wage increases which averaged 9.5 per cent from 1996 to 1998.

After adjusting for inflation, the median income grew over the year by 6.3 per cent in 2007.

Those engaged on term contract basis expanded by 6.8 per cent over the year, to 183,700. Those on short-term contracts of less than a year grew by as much as 14 per cent.

The MOM said this reflected a growing trend towards greater flexibility in working arrangements.

The bulk of employees (88 per cent) were on permanent appointments, with contract employees forming the remaining 12 per cent.

But the challenge remained in enhancing the long-term employability of older workers amid a volatile economic environment.

The survey found that the workforce was rapidly ageing, with slightly over half of the economically active residents aged 40 years and above. This compared with 33 per cent in 1991.

Among the ageing workers, 25 per cent were at least 50 years old, compared with 13 per cent in 1991.

More comprehensive data will be released in the annual labour force publication by 31 January next year. - CNA/ir

Source: Channelnewsasia.com