I refer to the article “More locals employed, income growth strengthened, says MOM” (Straits Times, Jan 29).
It states that “Total employment in Singapore grew by an estimated 134,900 over 2013, up from the 129,100 in 2012.”
According to the Ministry of Manpower ‘s (MOM) Employment Situation 2013 report, released on 29 January
60% of new jobs went to locals?
- The annual employment change for last year, was 134,900 of which 81,600 was for locals.
81% of new jobs went to locals?
Excluding foreign domestic and construction workers, the employment change was 94,500, of which 77,700 was for locals.
How many of the “locals” are Singaporeans?
Can breakdown for unemployment, but not for employment?
Don’t you find it somewhat strange that whilst the unemployment statistics are broken down into citizens and PRs – there is no breakdown for the employment and employment change statistics?
Meaningless without immigration statistics?
Actually, a better picture may be to have the immigration statistics as well.
For example, if we take the 6.9 million population white paper’s projection of 30,000 new PRs and 25,000 new citizens per year – how many of the employment change jobs went to PRs, new PRs and new citizens?
Real income increase 4.6% or 1.8%?
As to media reports highlighting that nominal and real median income increase last year was 7.1 and 4.6%, respectively – the figures excluding employer CPF contribution was much lower, at 4.3 and 1.8%, respectively.
0.3% increase p.a. last decade?
Moreover, the real income growth per annum for the 20th percentile, was only 0.3% from 2003 to 2013.
1% increase last 5 years?
The real income growth per annum for the median income, was only 1.0% from 2008 to 2013.
Unemployment up?
Finally, with such good jobs growth and vacancies growth according to the job vacancies report released the day before – why is it that the unemployment rate of residents has gone up from 2.6 to 2.7%?
Leong Sze Hian
*Leong is the Past President of the Society of Financial Service Professionals, an alumnus of Harvard University, has authored 4 books, quoted over 1500 times in the media , has been host of a money radio show, a daily newspaper column, Wharton Fellow, SEACeM Fellow, columnist for Malaysiakini, executive producer of the movie Ilo Ilo (24 international awards). He has served as Honorary Consul of Jamaica and founding advisor to the Financial Planning Associations of Brunei and Indonesia. He has 3 Masters, 2 Bachelors and 13 professional qualifications.