Singapore Jobless Rate Stays At 6-1/2-Year High In Q2
Singapore’s seasonally adjusted unemployment rate stood at 2.2 percent in the June quarter of 2017, the same as in the prior two quarters, preliminary estimates showed. The jobless rate remained at its highest level since the December quarter 2010.
In the three months to June, the jobless rate fell for residents (3.1 percent from 3.2 percent in the March quarter) and citizens (3.3 percent from 3.5 percent).
Some 3,500 workers were laid off, lower than the first quarter (4,000) and a year ago (4,800). The decrease over the quarter was broad-based across industries. Services continued to form the bulk of retrenchments/ redundancies (64 percent), followed by manufacturing (22 percent) and construction (13 percent).
Total employment fell 7,800, lower than a decline in the preceding quarter (9,400), but a reversal from the growth a year ago (2,100). The contraction occurred in construction (-9,500) and manufacturing (-2,500), mainly due to a decrease in Work Permit Holders. Services employment continued to grow (4,100, or 3,400 when Foreign Domestic Workers were excluded), though growth was slower than the previous quarter and a year ago.
7/28/2017 3:01:37 AM