Singapore‟s resident labour force grew faster in 2012, reflecting the increase in resident labour force participation rate to a new high1 of 66.6% in 2012 from 66.1% in 2011. The resident labour force rose by 1.9% over the year to 2.12 million in June 2012, up from the growth of 1.6% in 2011. Nevertheless, this was substantially below the average increase of 2.6% p.a. from 2002 to 2012, reflecting the slower growth in resident population in recent years.
With the rise in labour force participation rate and continued strong employment creation, the employment rate rose to another new high1
. 78.8% of the resident population aged
25 to 64 were employed in 2012, up from 78.0% in 2011.
The employment rate for older residents increased at a faster pace, amid the tight labour market and measures to improve the employability of older residents, including the implementation of the re-employment legislation and the enhanced Special Employment
Credit earlier this year. 64.0% of residents aged 55 to 64 were employed in 2012, higher than 61.2% in 2011. Both the employment rate for older males (from 76.4% to 79.7%) and females (from 46.3% to 48.1%) rose to new highs1
Both professionals, managers, executives & technicians (PMETs) and non-PMETs experienced employment gains over the year. Driven by the strong increase in clerical, sales & service workers (7.0%) which outweighed the decrease in production & related workers (-1.8%), resident non-PMET employment increased by 2.7% in 2012, faster than the growth of 1.5% for PMETs. Consequently, the PMET share of resident employment dipped from 52.2% in 2011 to 51.9% in 2012. This was still higher than the 44.6% in
2002 as PMETs experienced faster employment growth (4.5% p.a.) than non-PMETs
(1.4% p.a.) over the decade. Similar trends were observed for professionals, managers
& executives (PMEs), whose share of resident employment rose from