Singapore Unemployment Rate Confirmed at 1.9% in Q1


In the first quarter of 2013, seasonally-adjusted unemployment rate in Singapore rose marginally to 1.9 percent from 1.8 percent in the previous quarter, confirming the preliminary estimate released in April by the Ministry of Manpower. Although jobless rate slightly rose in the March quarter, it remained low and more jobs became available for job seekers and fewer workers lost their jobs.

The unemployment rate for residents rose to 2.9 percent from 2.7 percent, while the citizen unemployment rate was unchanged at 2.9 percent.

Long-term unemployment improved slightly over the year. 13 700 unemployed residents making up 0.6 percent of the resident labour force in March of 2013 had been looking for work for at least 25 weeks, down from 14 000 or 0.7 percent a year ago.

Total employment grew by 28 900 in the first quarter of 2013, substantially lower than the seasonal high increase of 44 000 in the last quarter of 2012, but slightly above the 27 200 in the first quarter of 2012. This brought total employment to 3 386 500 in March of 2013, which was 4.0 percent higher than a year ago.

Redundancy declined, after rising in the preceding two quarters. 2 120 workers were made redundant in the first quarter of 2013. This was lower than the 3 350 workers affected in the preceding quarter and 2 600 in the first quarter of 2012.

Job openings rose, after declining in the previous quarter. The seasonally adjusted vacancies increased over the quarter by 17 percent in March of 2013, reversing the decline of 7.0 percent in December 2012. With the increase in job vacancies, the seasonally adjusted ratio of job vacancies to unemployed persons rose from 1.05 in December of 2012 to 1.21 in March of 2013, back to around the level of 1.23 in September of 2012.

Singapore Unemployment Rate Confirmed at 1.9% in Q1


Ministry of Manpower, Singapore | Joana Taborda | joana.taborda@tradingeconomics.com
6/14/2013 9:17:02 AM