Wednesday, April 30, 2008

More jobs or more jobless in Singapore?

Are there more jobs or more jobless people in Singapore? I was editing for Topix earlier today when I came across two stories about Singapore's current employment situation.

cna

Channel NewsAsia as usual, is very optimistic. It says more jobs were created in early 2008. Hooray! Oh, but wait...

cnbc

CNBC carrying a report by Reuters, paints a bleak picture. It says that the jobless rate in Singapore has risen and may climb further.

So which is it? More jobs or more jobless? Argh! I'm confused.

10 comments:

Lilette said...

I'd go for the second one by Reuters anytime.

Mr Big said...

That's why I prefer foreign media because it gives us a more unbiased picture.

Anonymous said...

I think there's one time when Channel NewsAsia themselves were confused.

Rickie said...

I see that you decided to use the CNBC headline for your Topix news posts yesterday instead of the CNA one. ;oP

Anonymous said...

Channel NewsAsia's confusion.. see this for yourself:

http://www.mrbrown.com/blog/2008/02/make-up-your-mi.html

ANG said...

Citigroup economist Kit Wei Zheng said the rise in unemployment was "likely due to labour force growth outpacing jobs growth, rather than an increase in retrenchment".

He added: "The tight labour market of the previous few quarters likely attracted more entrants into the resident labour force (Singaporeans and permanent residents) than could be absorbed by existing labour demand."

http://www.todayonline.com/articles/251409.asp

Honky Tong said...

Due to labour force growth outpacing jobs growth? Still jobless wat!!

Anonymous said...

It's possible to have more jobs created, but higher jobless rate... if those jobs are not taken up by choosy Singaporeans lah. - Jolie

alex said...

I'll tell you what it means.

More jobs were created - correct - but those jobs went to foreign workers, and that is why the unemployment rate for Singapore citizens and PRs is getting higher.

Our bullshit Ministers and media are forever harping on the fact that more jobs are being created.. only the stupid would think those jobs without a minimum wage are being created for them.

Anonymous said...

Structural unemployment arises when the job seekers do not have the skills to match the jobs available. So if jobs were created (Eg. in wafer fabrication facilities, the local population might not have the skills required for the job thus the case when more jobs created, but unemployment rises)

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