Dip in long-term PMET unemployment rate shows more re-skilling to take on new jobs

SINGAPORE (Nov 30): The dip in the long-term unemployment rate of Singapore’s PMET -- professionals, managers, executives & technicians -- suggests more locals are re-skilling to take on new jobs or switch careers as the economy restructures.

And while employment rates for residents aged 25 to 64 and 65 and over continue to increase, population ageing and the higher propensity of youths to postpone entry into the labour force is expected to exert downward pressure on the overall employment rate in the years ahead.

With the improvement in economic conditions, real median income rose faster in the June 2016 – June 2017 period. Real income growth for both the median and 20th percentile were also significantly faster in the five years ending June 2017, compared to the preceding five-year period.

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