Resident unemployment rate down, fewer retrenchments in Q2
Workers at the Raffles Place financial district in Singapore. (File photo: AFP/Roslan Rahman)
SINGAPORE: The resident unemployment rate in Singapore declined in the second quarter from the previous quarter, although it remained higher than a year ago, according to latest figures released by the Ministry of Manpower (MOM) on Thursday (Sep 14).Among Singaporeans, the seasonally adjusted unemployment rate fell from 3.5 per cent in March to 3.3 per cent in June. For residents, the unemployment rate fell from 3.2 per cent to 3.1 per cent, the ministry’s quarterly Labour Market report said.Overall, the unemployment rate remained unchanged at 2.2 per cent.A total of 3,640 workers were retrenched in the second quarter, down from the 4,000 retrenched in the first quarter and the 4,800 retrenched a year ago.Total employment contracted in the second quarter, mainly due to a decrease in work permit holders in construction and manufacturing.