Singapore's employment rate has increased to a new high this year, mainly driven by job gains among women and older residents, according to findings from a labor force survey issued by the Ministry of Manpower on Tuesday.
Figures show that in June, 62.6 percent of the resident population aged 15 and over were employed, the highest 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 percent this year, while that for older residents aged 55 to 64 also reached a new high of 56.2 percent.
The employment rate for those aged 25 to 64 also increased from 75.5 percent last year to a new record of 76.5 percent.
There were 1,918,100 residents in the labor force comprising 1,100,100 men and 818,100 women.
The ministry said that most of the new jobs taken up by residents were in occupations paying more than the median income.
Nine out of ten jobs gained by residents went to professionals, managers, executives and technicians, mostly in the services sector.
Amid the tight labor market, the median monthly income for full-timers rose over the year by 7.7 percent to 2,330 Singapore dollars (about 1618 U.S. dollars) in June.
Nevertheless, this is still lower than the wage increases which averaged 9.5 percent from 1996 to 1998.
After adjusting for inflation, the median income grew over the year by 6.3 percent in 2007.
The survey also found that the workforce is rapidly ageing, with slightly over half of the economically active residents aged 40 years and above, compared with 33 percent in 1991.
Among the ageing workers, 25 percent are at least 50 years old, compared with 13 percent in 1991.
Source:Xinhua
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