Macroeconomic Trends in Singapore: Employment, Inflation, and CPI Data

This assignment presents an analysis of Singapore's macroeconomic data from 1950 to 2014, focusing on employment, unemployment, labor force participation, and inflation. The first part of the assignment provides a table detailing the employed, unemployed, and labor force statistics, revealing an increasing unemployment rate potentially linked to rising labor force participation. The second part examines inflation and deflation using the Consumer Price Index (CPI), showing an increase in the inflation rate over the years. The data is presented in tables, allowing for a comprehensive understanding of the economic trends in Singapore. The assignment uses data from tradingeconomics.com to support its analysis, illustrating the changes in the Singapore economy over the specified period. This analysis provides insights into the economic performance and key indicators of Singapore's economy.

Macro Economics

1. Table of employed, unemployed and labour force in Singapore from 1950 to 2014
Information regarding employed, unemployed and labour force of Singapore is gathered
of 64 years. Aspects which are considered in this table are total population of Singapore, labour
force, unemployed people in thousand and employed people in thousand along with labour force
participation rate.
Years Population (million) Labour force
Unemployed
(Thousand)
Employed
(Thousand)
Labour force
participation
rate(%)
1950 90 65 25 36
1960 1.65 90 65 25 36
1970 2.8 101 58 43 55.3
1980 2.41 80.8 38 42.8 63.2
1990 3.05 42.5 25 17.5 63.2
2000 4.03 119 97 22 64.1
2010 5.08 156 125 31 66.1
2014 5.47 142 105 37 66.8
From the above table, it has been analysed that by years unemployment rate of Singapore
is increasing. Reason of this unemployment can be increasing rate of labour force participation.
2. Table of inflation and deflation by CPI and its changes by percentage
Inflation: It is a situation in which price of goods and services rise but the purchasing
power of an currency continuously declines. It can affect the economy in positive or negative
way.
Deflation: When price of goods and services falls but the purchasing power of a currency
increases, it is the situation of deflation. It happens when money supply of a economy is fixed.
CPI: Customer price index is a measure that examines the weighted average of prices of
a basket of consumer goods and services by which inflation and deflation rate of a country can
be analysed.
Years Percentage change in CPI CPI
1

1950 1.004048583 24.7
1951 1.0040322581 24.8
1952 0.983935743 24.9
1953 0.987755102 24.5
1954 1.0144628099 24.2
1955 1.0020366599 24.55
1956 1.0020325203 24.6
1957 1.0012170385 24.65
1958 0.9967585089 24.68
1959 0.9959349593 24.6
Years Percentage change in CPI CPI
1960 1.0032653061 24.5
1961 1.0089503662 24.58
1962 1.0080645161 24.8
1963 1.032 25
1964 1.003875969 25.8
1965 1.0193050193 25.9
1966 0.9962121212 26.4
1967 1.0570342205 26.3
1968 0.9712230216 27.8
1969 1.0296296296 27
Years Percentage change in CPI CPI
1970 1.0071942446 27.8
1971 1 28
2

1972 1.0357142857 28
1973 1.3793103448 29
1974 1.0625 40
1975 1.0117647059 42.5
1976 1 43
1977 1.0348837209 43
1978 1.0292134831 44.5
1979 1.0698689956 45.8
Years Percentage change in CPI CPI
1980 1.1734693878 49
1981 1.0086956522 57.5
1982 1 58
1983 1.0310344828 58
1984 0.9949832776 59.8
1985 0.9915966387 59.5
1986 0.986440678 59
1987 1.0137457045 58.2
1988 1.013559322 59
1989 1.0367892977 59.8
Years Percentage change in CPI CPI
1990 1.0483870968 62
1991 1.0184615385 65
1992 1.0120845921 66.2
3

1993 1.0223880597 67
1994 1.0437956204 68.5
1995 1.0041958042 71.5
1996 1.0167130919 71.8
1997 1.0205479452 73
1998 0.989261745 74.5
1999 1.0013568521 73.7
Years Percentage change in CPI CPI
2000 1.0189701897 73.8
2001 0.9973404255 75.2
2002 1.004 75
2003 1.0092961487 75.3
2004 1.0223684211 76
2005 0.990990991 77.7
2006 0.9935064935 77
2007 1.0784313725 76.5
2008 1.0545454545 82.5
2009 0.9770114943 87
Years Percentage change in CPI CPI
2010 1.0458823529 85
2011 1.0686164229 88.9
2012 1.0421052632 95
2013 1.0101010101 99
2014 0 100
4

From the above CPI table, it can be analysed that inflation rate of Singapore has
continuously increased over years.
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