SINGAPORE, Nov. 28 (Xinhua) -- Despite a more challenging economic outlook, employment in Singapore rose to a new high of 77percent in 2008 from 76.5 percent in 2007, government data showed on Friday.
The Singapore Manpower Ministry said in a workforce report that the rise was driven by both growth in the resident population and female labor force participation rate along with continued employment of older workers.
However, the country's jobless rate rose from a decade low of 2.4 percent in December last year to 3.1 percent in June this year, reflecting more cautious hiring sentiments amid the economic slowdown, said the report.
The report also noted that the seasonally adjusted resident jobless rate rose further to 3.3 percent in September this year amid the economic contraction and continued weakening in economic outlook.
The ministry said the employment rate of residents aged 55 to 64 years also increased by a percentage point over the previous year to 57.2 percent this year, due to continuing efforts to enhance the employability of older persons.
It also found that more women who were previously outside the labor force were taking up jobs.
As for income, the report said the median monthly income for full-time employed residents rose over the year by 11 percent to 2,590 Singapore dollars (1,715 U.S. dollars) in 2008.
After adjusting for higher inflation, the increase in median income was 4.6 percent compared with 5.5 percent in 2007.
The report said the income growth in 2008 partly reflects the spillover effect from the strong economic performance last year and the higher proportion of Professional, Managerial, Executive and Technician (PMETs), whose income is typically higher, among employed residents in 2008.