Monday, October 24, 2005

China to adopt new jobless rate method.

"The current method only accounts for people who register with the government not those who failed to register".

"...the new method can double the figures".

I'm so amused by the Chinese govt. They have learned nothing from the Singapore govt. Why change the method when it is reporting a lower unemployment figure and everyone feels good about it?? The Chinese govt still has plenty to learn from the PAP. Singapore has been improving its method of calculating unemployment over the past few years. Changing the method of calculation can actually help to lower the unemployment rate with less effort, thus making Singaporeans more optimistic and happy:

1. Lump PR & Singaporeans together in the calculation. The number will be better.

2. Keep good old practices such as counting only people who register with the MOM database. Those who don't register, it is safe to assume they not actively looking for jobs or don't need a job anymore.

3. Keep everyone focussed on re-training, workfare and job-redesign as solutions to the problem.

4. Emphasize other types of figures such as total employment to show singaporeans things are always getting better and better.

We, Singaporeans can look forward with optimism as things are always getting better and better through various new methods of calculation.

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