Singapore Q3 Jobless Rate Highest Since 2004
Singapore’s seasonally adjusted unemployment rate rose sharply to 3.6 percent in the September quarter of 2020 from 2.8 percent in the previous period, a preliminary estimate showed. This was the highest jobless rate since the June quarter of 2004, as the COVID-19 crisis took a huge toll on the economy. The jobless rate increased for both residents (4.7 percent vs 3.8 percent in Q2) and citizens (4.9 percent vs 4 percent). Total employment decreased by 26,900, much lower than the previous quarter (-103,800), with both manufacturing and construction sectors falling, while the services sector picking up, mainly in community, social & personal services, and food & beverage services. Meantime, some 9,100 workers were laid off, compared with 8,130 in Q2. The retrenchments rose in manufacturing and services, and primarily in arts, entertainment & recreation, and Air transport, which continues to be affected by the outbreak.
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