Singapore Jobless Rate Slightly Down to 1.9% in Q4

Singapore’s seasonally adjusted jobless rate stood at 1.9 percent in the fourth quarter of 2015, slightly down from 2.0 percent in the previous quarter and below market expectations, preliminary estimates showed.
Ministry of Manpower l Rida Husna | 1/28/2016 3:16:59 PM
In the fourth quarter, the jobless rate for residents was down to 2.9 percent from 3.0 percent in the September quarter. The rate for citizens also fell to 3.0 percent from 3.1 percent.

Some 4,200 workers were made redundant in the fourth quarter of 2015, up from 3,460 in the preceding quarter and 3,910 in the fourth quarter of 2014, amid ongoing business restructuring.

Reflecting hiring for the year-end festivities, overall employment grew  faster in the fourth quarter of 2015 (15,500) than the previous quarter (12,600),  but lower than a year ago (40,700).

For full year of 2015, unemployment was recorded at 1.9 percent, 2.8 percent for residents and 2.9 percent for citizens, broadly unchanged since 2011.

Redundancies rose to 14,400 in 2015, going up steadily since 2010. The increase in layoffs stemmed from manufacturing and services

Total employment growth slowed significantly in 2015 and was broad-based across sectors. Employment declines in manufacturing, retail trade, real estate services and wholesale trade were offset by employment growth in most sectors, led by community, social & personal services, administrative & support services, construction and professional services. Foreign growth continued to moderate, while local growth was flat following exceptional increases in 2013 and 2014. 

Singapore Jobless Rate Slightly Down to 1.9% in Q4