Singapore’s labour market in ‘healthy’ mode even as 2Q unemployment rate for citizens rise

SINGAPORE (Sept 13): Singapore’s seasonally adjusted unemployment rate rose slightly in the second quarter ended June, reported the Ministry of Manpower in its quarterly Labour Market Report Second Quarter 2018 released on Thursday morning.

The overall unemployment rate rose from 2.0% in March to 2.1% in June. Among residents, the unemployment rate rose from 2.8% to 2.9% while the unemployment rate for citizens rose from 3.0% to 3.1% as more people entered the labour force to look for work on the back of continued expansion in economic activities. The increase came after a general downtrend since June 2017 although the unemployment rates remained lower than a year ago.

Nevertheless, Singapore’s labour market remained healthy in the second quarter, said the ministry, as total employment grew and the rate of re-entry into employment among retrenched locals improved for most age and education groups. Vacancies rose as the ratio of job vacancies to unemployed persons continued to increase, even though the unemployment rate rose as more people entered the labour force to look for work.

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