Singapore Unemployment Rate Confirmed at 1.8% in Q3



Singapore's final figure for jobless rate in the third quarter of 2013 was confirmed at 1.8 percent, down from 2.1 percent in the previous three-month period. Unemployment remained low, reflecting the tight labour market. The seasonally adjusted unemployment rate for residents decreased over the quarter from 2.9 percent to 2.6 percent, and from 3.1 percent to 2.8 percent for Singapore citizens.

Long-term unemployment increased to 0.6 percent of the resident labour force, up from 0.4 percent a year ago. Nevertheless, the long-term unemployment rate remained lower than the last recessionary high (0.9 percent) in September of  2009.

Total employment rose by 33,100 in the third quarter of 2013, slightly below the gains of 33,700 in the previous quarter but higher than the 26,200 in the third quarter of 2012. This brought total employment to 3,453,300 in September of 2013, 4.2 percent higher than a year ago.

2,710 workers were made redundant in the third quarter of 2013, lower than the 3,080 workers in the preceding quarter and 2,850 in the third quarter of 2012.

There were more job openings in September 2013. Seasonally adjusted job vacancies rose over the quarter by 5.9 percent, after declining 5.1 percent in June 2013. With more openings but fewer job seekers, the seasonally adjusted ratio of job vacancies to unemployed persons rose to 1.41 in September of 2013, following a decline from 1.21 in March of 2013 to 1.12 in June of 2013. 

Singapore Unemployment Rate Confirmed at 1.8% in Q3


Ministry of Manpower | Joana Taborda | joana.taborda@tradingeconomics.com
12/13/2013 9:25:06 AM