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MOM employment statistics include full-time NSFs
An honorable member of the Coffee Shop Has Just Posted the Following:
MOM employment statistics include full-time NSFs October 4th, 2013 | Author: Contributions With the claimed low resident unemployment of 3%, it is actually much higher if we regard national service as NOT employed. This is in line with other countries where conscription is not counted as employed. However, NSF is defined as “employed” by MOM’s definition. For our young (15-24 yrs), we have unemployment of 8.9% in 2012. If we do count national service as “unemployed”, that would be adding between 30-50k more headcounts into the unemployment data. That would double the resident unemployment from 60k to 110k. THE RESIDENT UNEMPLOYMENT IS POTENTIALLY AT 6%. Just by looking at MOM’s definition alone. REFERENCE 1) Employment Definition is found on page A2, in Appendix A. 2) Unemployment by Age (Chart 10) can be found on page 14. Click to enlarge http://www.mom.gov.sg/Publications/mrsd_singapore_workforce_2012.pdf Do you think it is accurate to compare Singapore’s unemployment rate with that of other developed countries when other countries do not have NSFs to add into their ‘employed’ labour figures? PM Lee said that Singapore’s unemployment rate of 3% was “safe” comparing it with other countries that have 6~8%. In fact, Singapore could have an unemployment rate as high as 6% if you take out NSFs. And if so, why are NSF not paid a salary with proper CPF contribution if they are “employed”? Is the MOM playing with statistics to give Singaporeans a false sense of security? Singapore Singaporeans Click here to view the whole thread at www.sammyboy.com. |
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