Unemployment remains low in Singapore: MOM

Unemployment remained low in Singapore and income growth strengthened last year, according to the Ministry of Manpower.

The annual overall unemployment rate dropped to 1.9 per cent last year from 2 per cent the previous year, it said on Wednesday on the release of its “Employment Situation 2013” report.

The ministry said that preliminary estimates showed that overall and citizen unemployment rates for December remained unchanged from the respective 1.8 per cent and 2.8 per cent rates for September.

The average unemployment rate for citizens for the whole of last year fell to 2.9 per cent from 3 per cent the previous year.

Total employment was estimated to have risen to 134,900 over the year from 129,100 the previous year.

“Local employment rose more quickly in the year, as the growth in foreign workers continued to moderate amid tightened manpower measures,” it said.

According to the report, locals, including citizens and permanent residents, accounted for 66.2 per cent of people employed in Singapore as at December last year.

Income growth

Amid the tight labour market, income growth also strengthened last year, according to the ministry.

Taking into account employer CPF contributions, the nominal median monthly income of full-time employed citizens increased to S$3,480 in June last year, a 7.1 per cent rise over the year, MOM said.

As inflation eased last year, this showed a 4.6 per cent growth in real median income, it said.

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