Singapore Jobless Rate Steady at 2.1% in Q3


Singapore’s seasonally adjusted jobless rate stood at 2.1 percent in the third quarter of 2016, unchanged from the previous quarter, preliminary estimates showed.

In the September quarter, the jobless rate remained broadly similar for resident (2.9 percent from 3.0 percent in the three months to June) and citizens (3.0 percent from 3.1 percent). 

Some 4,100 workers were made redundant, down from 4,800 in the preceding quarter but higher than 3,460 a year ago, amid subdued global conditions and internal economic restructuring. Over the quarter, layoffs s fell in services and manufacturing, while it increased in construction. Services continued to form the bulk of redundancies (59 percent), followed by manufacturing (27 percent) and construction (15 percent).

Total employment is estimated to have contracted by 3,300 in the three months to September 2016, following a slower growth in the previous two quarters. It was the second contraction since 2008/2009 recession and the weakest quarterly result since the March quarter 2015. Employment declined in manufacturing (-3,700) for the eighth consecutive quarter. It also turned negative in construction (-5,200), after four quarters of moderated growth. Employment growth in services (5,700) was slower than in the previous quarter (7,600).

Singapore Jobless Rate Steady at 2.1% in Q3


Ministry of Manpower l Rida Husna | rida@tradingeconomics.com
10/27/2016 3:33:57 AM