Singapore Employment Rate Rises To New High

By Tengku Noor Shamsiah Tengku Abdullah SINGAPORE, Nov 28 (Bernama) -- The employment rate in Singapore rose to a new high, as more women and older residents were in the labour force amid a tight labour market and low unemployment. There was sustained growth in incomes in the recent five years, with the income growth of lower income earners keeping pace with that at the middle. These are the key findings from the "Singapore Workforce, 2014" report by the Ministry of Manpower's Research and Statistics Department, based on data from the Comprehensive Labour Force Survey conducted in mid-2014. According to the report, the employment rate of women in their prime working ages of 25 to 54 rose from 74.3 per cent in 2013 to a record 76.0 per cent in 2014, while older residents aged 55 to 64 posted further increases in employment rate, reaching a new high of 66.3 per cent in 2014 from 65.0 per cent in 2013. The nominal median monthly income from work of full-time employed residents (including employer CPF contributions) increased over the year by 1.8 per cent to S$3,770 in June 2014, compared to 6.5 per cent in June 2013. --BERNAMA