More locals employed last year as foreign employment slowed
More locals were employed last year while foreign employment continued to moderate due to tighter foreign manpower controls.
The Manpower Ministry says key findings from its Labour Market Report for 2013 show that growth in foreign employment excluding maids has slowed for the second consecutive year.
It was 4.6 per cent (48,400) in 2013, down from 6.8 per cent (67,100) the year before.
Meanwhile, local employment rose faster, it was up by 4 per cent compared to 2.9 per cent in 2012.
MOM attributed this to more older residents and females joining the workforce amidst curbs on foreign employment growth.
On the whole, the employment of Singaporeans and permanent residents also improved.
The seasonally-adjusted unemployment rate dropped to 2.8 per cent last December, compared to 2.9 per cent in December 2012.
MOM says this is mainly driven by growth in local employment in the services sector.
MOM adds that real income growth also strengthened, with real median incomes for full-time employed citizens growing by 4.6 per cent last year - up from 1.2 per cent the year before.
It attributes this to tighter labour market and lower inflation.
For this year, MOM expects the labour market to tighten further due to foreign manpower controls.
And this will place upward pressure on wages.
Unemployment is likely to remain low, while local employment should continue to register gains this year.
MORE 938LIVE SINGAPORE NEWS
Latest Photo Galleries on xinmsn
Lady Gaga appeared in Brussels on Monday with singer Tony Bennett to promote their collaborative Jazz album 'Cheek to Cheek.' Duration: 01:06
Date 6 hrs ago, Duration 1:06, Views 66