Singapore Workforce 2015

1. Employment rate rose from June 2014 to June 2015, helped by the strong employment gains in the second half of 2014 —The employment rate of residents aged 25 to 64 rose to 80.5% in June 2015, from 79.7% in June 2014. 
2. Strong median income growth over the year to June 2015 amid tight labour market
   a. The nominal median monthly income (including employer CPF contributions) of full-time employed residents rose over the year by 4.7% to $3,949 in June 2015, or 5.4%p in real terms.
   b. Real income growth was sustained over the past five years, growing by 3.1%P per annum at the median and 2.1%P per annum at the 20th percentile.
3. Unemployment rate remained low in June 2015
   a. Unemployment rate decreased for those aged 25 to 29 and in their 30s and 40s.
   b. Unemployment rose for older residents aged 50 & over and non-degree holders amid slower employment growth.
4. Amid softer economic conditions, employment growth slowed down in 1H2015. For the rest of this decade, we expect employment to grow at a slower pace than in the last five years, amid a more gradual rise in the resident labour force and continued restructuring of the economy.
   
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5. These are the key findings from the “Singapore Workforce, 2015” report by the Ministry of Manpower’s Research and Statistics Department, based on data from the Comprehensive Labour Force Survey conducted in mid 2015. The report is available on the Ministry of Manpower’s website at http://stats.mom.gov.sg/. A full report of the survey findings will be published in the "Labour Force in Singapore, 2015" report on 28 January 2016.