the difference as I can tell is,
a singapore OP makes starting pay at ~ singapore $1400, Eng ~ $3000.
the rest of conditions should be similar as US, main employee HP, ST, micron, etc...
what americans need to do is halve their monthly pay and everything ll be cool.
What is required by US engineers to remain competitive in the global scenario is to reduce their standard of living so has to be satisfied with lower salaries , otherwise the Asians who are now qualification and intelligence wise at par with US engineers will grab those jobs and the US businessmen ( however patriotic they are to their country ) would not hesitate in using that low cost workforce
Economy in Asia Pacific region is heavily driven by China. Although the growth of China economy has slow down, it is still growing and will still drive the economy of the region to the +ve region. In addition, as the knowledge flows faster thanks to Internet, the knowledges and skills of the people in the region are getting close to what US engineers equip. Cloud based computing allows workforce to be anywhere in the world. If corporation can get same skill set with lower cost, why will they hire a US based engineers? The growth rate in Singapore is not a surprise to me.
The labor participation rate and the employment to population ratio are better figures to use because they count actual jobs. Unemployment measurements are subjective, they are not the same from country to country - not even between the US and Canada.
The Bureau of Labor Statistics has a page where they re-crunch data from other countries using the BLS formula. Statistics Canada sets their UE rate at 7.3% ... the BLS recrunches that to 6.3% ...
People who are layed off, as well as new entrants into the work force, make it so you barely stay even if you create 150,000+ new jobs per month. So indeed, 80,000 is a dismal number. Nothing to brag about.
Also, when people give up looking for work, that artificially lowers the umemployment figure.
It's frustrating to see the government exacerbate the problem, by creating a whole plethora of arcane, confusing new tax policies, that no one has a clue how they will play out.
The definition of unemployment is that you are looking for a job. Therefore, you are part of the overall workforce. So leaving the job search or retiring early means that you are no longer part of the labor market.