Singapore Jobless Rate Confirmed at 2.0% in Q2


Singapore’s seasonally adjusted unemployment rate was recorded at 2.0 percent in the second quarter of 2015, up from 1.8 percent in the previous quarter and matching preliminary estimates. Amid softer economic conditions, job openings declined, though they continued to outnumber job seekers.

In the second quarter of 2015, citizen unemployment rose to 2.9 percent from 2.6 percent in the previous quarter and resident unemployment increased to 2.8 percent from 2.5 percent.

Total employment grew by 9,700 in the second quarter of 2015, after contracting in the preceding quarter (-6,100). This brought total employment to 3,627,500 in June 2015, an increase of 2.2 percent from a year ago. This year on year growth in total employment moderated from 2.7 percent in March 2015.

Some 3,250 workers were laid off in the second quarter of 2015, down from 3,500 workers in the preceding quarter but still above the second quarter of 2014 (2,410). There were 1.6 workers made redundant per 1,000 employees in the second quarter of 2015, as compared to 1.7 in the preceding quarter and 1.2 a year earlier.

The rate of re-entry into employment fell for the second consecutive quarter. About 55 percent of residents made redundant in the first quarter of 2015 secured employment by June 2015, down  from 57 percent experienced by the previous cohort (laid off in the fourth quarter of 2014) in March 2014. In June 2014, the rate of re-entry into employment was 53 percent.

Job vacancies decreased over the quarter by 4.5 percent to 62,4001 in June 2015, but outnumbered job seekers. Vacancies declined for production & transport operators, cleaners & labourers, but increased for professionals, managers, executives & technicians positions. The seasonally adjusted ratio of job vacancies to unemployed persons edged down to 121 openings per 100 seekers in June 2015 from 143 in March 2015.

Singapore Jobless Rate Confirmed at 2.0% in Q2


Ministry of Manpower l Rida Husna | rida@tradingeconomics.com
9/15/2015 4:23:11 AM