Whither Singapore's unemployment rate?

Publication Type

Book Chapter

Publication Date

8-2015

Abstract

In the period 1990-1999, Singapore's average annual real GDP growth was 7.3% with a coefficient of variation, which is a measure of dispersion of growth around its mean, of 0.49. The average annual total unemployment rate during this period was 1.9%. In comparison, in the period 2000-2012, when the average annual real GDP growth was 5.6% with a coefficient of variation of 0.79, the average annual total unemployment rate was 2.8%. Looking into Singapore's next 50 years, if real GDP grows at 3% on average, what does it imply for the rate of unemployment? Will slower growth coincide with more variable growth? This essay explores these questions.

Keywords

Unemployment, Singapore, GDP, economic growth

Discipline

Asian Studies | Economics | Growth and Development | Labor Economics

Research Areas

Applied Microeconomics

Publication

Singapore 2065: Leading Insights on Economy and Environment from 50 Singapore Icons and Beyond

Editor

Euston Quah

First Page

93

Last Page

96

ISBN

9789814663373

Identifier

10.1142/9789814663380_0018

Publisher

World Scientific

City or Country

Singapore

Additional URL

https://doi.org/10.1142/9789814663380_0018

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