Labour market

According to statistics released by the Ministry of Manpower on Wednesday, in the first three months of 2008, there were 68,400 jobs created, exceeding the 62,500 recorded in the previous quarter (4Q2007).
The services sector accounted for more than 60% of the jobs created, with the rest evenly divided between construction and manufacturing.
However, some 2,000 workers were laid off, a figure similar to each of the last four quarters, with the majority of them coming from electronics manufacturing.
The overall unemployment rate also rose to 2 per cent in March 08 versus 1.7 per cent last December.
Among Singaporeans and permanent residents, the jobless rate increased to 2.9 per cent in March 08, up from 2.4 per cent in December.
This reflects the growing trend of more jobs going to foreigners excluding PRs.

Source here.

Overall employment creation in Singapore for the whole of 2007 is 236,600, surpassing 176,000 in 2006. However foreign employment rose to a new high of 144,500 in 2007. This means only 38.9% in 236,600 jobs created last year truly benefited Singaporeans.
Singaporeans will be none the better off, even if more jobs are created, when more than 60% of the jobs created go to foreigners. Although Singaporeans may participate in skills upgrading programs, many realize that promotional prospects are limited.

Source here.

PM Lee also urged the people to see the issue in context. He said the majority of Singaporeans are doing well and household incomes across the board have increased.Singapore's jobless is at a very low rate of 2.9 per cent, while the employment rate is at record highs. More Singaporeans are employed than ever before, despite all the foreign workers here.

Source here.

Are the majority of us really doing well?

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