Singapore workforce[edit]
In 2000, Singapore had a workforce of about 2.2 million. The country has the largest proficiency of English language speakers in Asia, making it an attractive place for multinational corporations.
[39] The
National Trades Union Congress (NTUC), the sole
trade union federation which has a symbiotic relationship with the ruling party, comprises almost 99% of total organized labour. Government policy and pro-activity rather than labour legislation controls general labour and trade union matters. The Employment Act offers little protection to white-collar workers due to an income threshold. The
Industrial Arbitration Court handles labour-management disputes that cannot be resolved informally through the Ministry of Manpower. The
Singapore Government has stressed the importance of cooperation between unions, management and government (
tripartism), as well as the early resolution of disputes. There has been only one strike in the past 15 years.
Singapore has enjoyed virtually full employment for long periods of time. Amid an economic slump, the unemployment rate rose to 4.0% by the end of 2001, from 2.4% early in the year. Unemployment has since declined and as of 2012 the unemployment rate stands at 1.9%.
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While the Singapore government has taken a stance against
minimum wage and
unemployment benefit schemes, in 2007 the government introduced a Workfare Income Supplement (WIS) scheme to supplement wages of low-skilled workers.
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