Singapore Unemployment Rate Rises to 2.1% in Q2


Preliminary estimates show that the seasonally adjusted unemployment rate was 2.1 percent in June of 2013, up from 1.9 percent in March of 2013 and 1.8 percent in December of 2012. The tight labour market showed signs of easing in the second quarter of 2013, as layoffs rose amid business restructuring and consolidation.

Unemployment increased for the second consecutive quarter, though it was still low and employment creation remained high. 

The resident unemployment rate rose to 3.0 percent in June of 2013 from 2.9 percent in March of 2013 and 2.7 percent in December of 2012, while the unemployment rate for citizens increased to 3.1 percent from 2.9 percent in the preceding two quarters.

Employment creation in the second quarter of 2013 (32 500) increased from the previous quarter (28 900) and was slightly above the second quarter of 2012 (31 700). This brought total employment to 3 419 000 in June of 2013, which was 4.0 percent higher than a year ago.

Layoffs rose in the second quarter of 2013, affecting an estimated 2 900 workers, up from 2 120 in the preceding quarter and 2 210 in the second quarter of 2012. Nonetheless, it remained below the recessionary highs of 6 000 to 12 800 per quarter. 

Singapore Unemployment Rate Rises to 2.1% in Q2


Ministry of Manpower | Joana Taborda | joana.taborda@tradingeconomics.com
7/31/2013 9:19:06 AM