by Leong Sze Hian
I refer to the Ministry of Manpower’s (MOM) Labour Market Third Quarter 2010 Report.
Earnings
Average (Mean) Monthly Nominal Earnings Singapore $ Per Employee, has continued to fall from $4,310 to $3,819 and $3,754, for the 1st, 2nd and 3rd Qtrs, respectively.
With the economy booming and expected to be the fastest growing in the world at 15 per cent GDP growth, and media reports reporting that the job market is bursting at the seams, why has earnings continued to fall for the second consecutive quarter?
Since we are talking about Average (Mean) Earnings, what is the median earnings?
Normally, as in the past, media earnings may be lower than mean earnings?
So, although the annual growth rate was 5.4 per cent, with inflation hitting 3.8 per cent in November, which is the highest since January 2009, (“S’pore’s inflation hits highest level since Jan 2009”, Channel News Asia, Dec 23), we may yet end the year, with a third consecutive year of negative real median wage increase.
Unemployment
Mature residents aged 40 & over continued to form the largest group of resident job seekers (24,000 or 45%).
As to long-term unemployment, the majority (67%) of them were mature residents age 40 & over.
For Residents Made Redundant, the occupational group, Professionals, Managers, Executives & Technicians (PMETS) formed the largest group, at 51.7 per cent.
By educational attainment, those with a degree, formed the largest group, at 29.9 per cent.
By age group, age 40 & over formed the largest group, at 51.8 per cent.
Sinced the data on residents made redundant pertain to private sector establishments each with at least 25 employees and the public sector, the number made redundant may be more if we include private sector establishments with less than 25 employees.
The number of workers placed on short-week or temporary lay-off rose to 410 in the third quarter, from 290 in the second quarter.
Similarly, the above excludes less than 25 employee establishments.
Re-employment
For re-employment, the improvement over the quarter was for all groups, except for residents with diploma or other professional qualifications whose re-employment rate declined from 64% to 60%.
Business outlook
The business outlook has softened. For example, a smaller net weighted balance of 3% of manufacturers expect improvement in the next six months, down from 18% in the quarter’s survey.
In summary, the above statistics may indicate that perhaps things are not as rosy as most media reports have portrayed, particularly for older and more educated residents on a relative basis.
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Mr.Leong helps us, daft citizens, to look at statistical news at actual perspective, to see and analyse under all those rosy lens. All those whipping and insults have made us smarter, to be able to question ambiguities, all those lapping up statistics, lock, stock and barrel, is passe now. Forced to leave the nanny’s hand-holding, grow up and be more cynical.
foreigners “supposedly” drive gdp.
gdp drive ministers’ pay.
foreigners drive salary downwards else why employ them?
Do you think ministers will control ft appropriately?
All these propaganda by Straits Times are to help PAP in the coming election. Nothing more and nothing less
Foreigners drive locals out of the country into foreign lands where they are discriminated against! We have become a laughing stock to the other nations!
the moral of this story:
1. you don’t need a degree to have a job;
2. do not cross the age of 40.
and the ST keeps reporting the economy has recover fast by the papies??? what a big lie by these crooks.
Conflicting statistics with ‘good’ years ahead reports?
Vote for ‘good’ years ahead and you get more confusing results later.
LKY would say ‘Why should I explain my policies to dafts? You dafts would not understand because they are too profound and only my scholars can interpret them’.
Sirs at TOC,
How does GDP growth benefit Singaporeans? Kindly englighten us why GDP is the country’s goal. thank you
Above 5.1 percent of GDP = MINIMUM OF 12 MONTHS OF BONUS FOR MINISTERs.
Who cares about earnings of ‘lesser mortals’.
”Above 5.1 percent of GDP = MINIMUM OF 12 MONTHS OF BONUS FOR MINISTERs.”
That’s why next year’s GDP uniquely peg to 5.1% , to get 12 MONTHS GDP BONUS
This means that Singapore local talents are mostly out of job and replaced by cheap Faked Talent from overseas but considered by PAP definition of “foreign talent”. Singapore is the most absurd and unrespected nation in the world. No wonder some asia countries find our leaders here rather “daft”…but they rather keep quiet since their citizens benefited from PAP daft policies that disregard local bred talents dilemma.
http://www.taipanpublishinggroup.com/tpg-misc/promos/barbarians-of-wealth-promo-12-1-10.html?o=221051&s=223582&u=49932410&l=191866&r=Milo
good to read some books.
it is magical singapore
it seems to me that we are not doing that well despite the reported good growth
While their salaries may be the highest in the world, I do not blame them. The GDP is used as the benchmark.
Furthermore, the Majority People seems to accept by way of not showing objection.
There is a big effect when the majority all behave the same : got views but dare not voice it. Worse is got questions but dare not fart a question.
Overall, considering all things, the Leaders do deserve the highest salaries in the world. Minority has to accept decision of the majority. Sadly or happily. this is democracy.
Pardon me, we are still third world frogs with self-proclaimed first world pay for our politicians, pay even the highest in the world, but with so many recent screwups, highest pay but at best with mediocre or even lousy performance output is happening in Singapore.
We are more than willing to pay high, but we expect tip top performance in
capability and competence in return, not pay high and receive cheap output.
Just look at our messy transport system, and compare it to Hongkong, our highly paid transport officials, under the equally highly paid Transport Minister never get the system right. Take the deregulation of the taxi service, it creates a lot of bad blood between driver and communter, esp the foreign tourist, with arguments on the complicted and myriad surcharges and charges according to official working hours. Who cares about having to keep an eye on the clock, all we want is to get quick transport from A to B, and pay a simplified fare as reflected on the meter, without having to crack our brains. Here high pay = low job quality.
For goodness sake take a leaf from Hongkong or South korea to address the taxi problem, if incapable, just copy.
Real democracy exists only when there is no nonsence of walkovers and the large GRCs grouping that stretches from one end of the island to the other end.
Mr Leong, that workers earnings have fallen for two straight quarters between Q1 and Q3 2010 may not be any cause for concern.
After all, earnings have fallen for two straight quarters between Q1 and Q3 of EVERY year since 2004. Doesn’t that suggest what you are seeing is something seasonal?
See:
http://www.mom.gov.sg/statistics-publications/national-labour-market-information/statistics/Pages/earnings-wages.aspx
I notice that this article is based on 1 source of information. The whole article is based on info from the source.
This is the key thing to note.
Is spore 1st world?
Is salary generally 1st world ? No, except elites.
Is gst ? Yes!
Are people generally politically apathetic? Yes!
How many never voted? Many.
How many are afraid?
How many never voice up in the face if big concerns like influx msk escape mini bon fiasco investment losses Hdb price ?
Now who else is the real problem ?
It would be undiplomatic to say it’s the people.
But the truth hurts.
hmmm, dunno why a few posters are blaming the people the people & the people all the time.
take N. Korea for example. an island of S. Korea was bombarded, but it doesn’t mean S. Korea should just hit back, aka, go into a full scale war.
in S’pore’s context i let you people decide who or what fits the N. Korea’s mataphor to a tee…
moral of the story? when dealing with a powerful foe, thread carefully. its not like the people have the power to bring about change in true democratic fashion.
must be the dogs running loose again ah…
mice is nice,
lets not even talk about CHANGE or ISA.
IF people really have something to say or have a concern, they COULD just go online and post their concerns and questions. These will not lead them into trouble. Agree?
Why they not even doing it? They dunno? They no brains?
Cannot be right?
So, its their attitude. They push their responsibilities as democratic citizens to others. This is wrong.
People cite ISA as FEAR factor. Would you say that people dunno that asking valid questions criticising?
Its more likely that IT savvy citizens know where they can post their concerns but they choose not to do so.
The also should know that by being irresponsible they are not HONEST to themselves and sabotage the rest.
They know everything but because of their way of thinking, they are what they are. This blog has no more than a few hundred individual readers who ever posted comments, imho. i may be wrong. Only TOC knows.
I base on observation of every article, the number of postings per article over a long period of years.
just returned from little china..the chinese government just reformed a new industrial law givin..YES real yuan$ rebate$ of a near 10% for all farmers/enterprenuers..
the rules are simple..when you buy a truck/lorry/fridges/applicanese for your farms/factories usuage..the government will rebate you instant ca$h subsidies of up to 10% by simply presentin your farmers/factories registration documents
off course without a doubt..you need to sign a delcaration that the equipments is for fam usuage..you cannot xpect to buy a 55″LCD tvs and implied that you want to use for presentations…
now if onLEE the pap government can think of such wonderFOOL simple ideas..life would be great..isn’t it?
btw..ow much is a COE/erps charges for a GPLATE vehicles?
1st world frog, 31 Decemder 2010
i agree people could post online their concerns and questions, but if even MM hold negative perception of S’poreans being Champion Complainers, or ministers often lamenting that S’poreans gripe alot, are choosey, etc.
why not ask yourself how come officialdom react so negatively to feedback when its always possible there is always room for improvement?
its unfortunate that you are unable to dig a little deeper into issues, it isn’t that much deeper… relationship is a 2-way street, dun just look 1 way.
who was the one who said S’poreans are daft har? then some idiots can contradict that S’pore got highly educated workforce?
i only a lesser mortal, so pardon me if i do err from time to time?