ASEAN Labour Market

CEIC Gallery - Emerging Economies/WorldTrend+ Database, January 6, 2016 Summary ASEAN hosts 600 million people, larger population than EU or North America. On top of that, it has the third-largest labour force in the world, following China and India. ASEAN has been achieving impressive strides in both labour force expansion and productivity improvements, which are some of the key factor that drive GDP growth. To enhance the competitiveness of ASEAN, human capital, a key engine in driving the direction of the economy and the social progress, need to be improved. Therefore, the essential of job creation, the development of the quality of the workforce and social secerity arrangement are recognized by ASEAN. With the afforementioned efforts, recently, ASEAN labour force and employment are progressively increasing. All charts belows provide key information of labour market in ASEAN. Chart 1-5 Chart 1 - 5 display the trends of labour force, proportion of male and female labour force, and important labour force related rates in ASEAN. Chart 1 and 2 indicate that labour force in ASEAN, both male and female have increased in the the past decade (note that data for labour force for male and female are excluded Cambodia, Indonesia, Laos, Myanmar). In addition, Labour market rates also show that the trend of labour market in ASEAN is positive, as the decrease of unemployment rate and the rise of labour force participation rate. Among aggregated ASEAN, CLMV countries ranked the highest in labour participation rate in 2007 - 2014. Metadata From 1 July 1996, foreign currency securities sold under repurchase agreements are retained for accounting purposes as foreign currency investments in the Bank's balance sheet, in accordance with standard accounting treatment. For the purpose of reporting foreign exchange reserves, however, securities sold under repurchase agreements are excluded. Chart 6-9 Chart 6 - 9 illustrate current and historical trends of employment in advanced ASEAN countries (ASEAN 5: Indonesia, Malaysia, Philippines, Singapore, Thailand). Chart 6 and 7 indicate that the trend of employment in ASEAN 5 has remained positive since 1998, this can be implied that there is an increase of job opportunities in ASEAN 5 over the past decades. Moreover, it is expected that there will be more jobs available in the upcoming years due to the fact that ASEAN has become more attractive to foreign investors because of the lower labour costs especially in Indonesia and the Philippines (as shown in chart 13). Chart 8 - 9 show that CLMV countries ranked the highest in employment rate among other aggregated ASEAN, as Cambodia ranked on top of all member states. Chart 10-13 Chart 10 -12 display trends of employment by categoty namely agriculture, industry, and services. Indonesia ranked the highest in emplayment in all categories because Indonesia has the lagest labour force among member state and has comparatively lowest labour costs. However, Indonesia's employment rates ranked almost the bottom among other member states. Currently, Indonesia is facing unemployment problem caused by job-shedding by indonesian companies as they have suffered from the weakest economic growth in six years. Despite the unemployment issue in Indonesia, there is an upward trend in indonesia's employment in industry and services sector. Chart 13 illustrates that Singapore has the highest monthly earnings among ASEAN 5 and Vietnam, followed by Malaysia which is more than four times lower than Singapore. Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. Back to Blog
7th January 2016 ASEAN Labour Market

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