Singapore’s Unemployment Rate Confirmed at 2.1% in Q2

Final figure of Singaporean jobless rate for the second quarter of 2013 was unchanged at 2.1 percent, up from 1.9 percent in the previous three-month period. The Ministry of Manpower expects the labor market to remain tight for the rest of the year.

In the second quarter of 2013, seasonally adjusted resident unemployment rate remained low at 2.9 percent. Total employment rose by 33,700, higher than the gains of 28,900 in the previous quarter and 31,700 in the second quarter of 2012. This brought total employment to 3,420,200, which was 4.0 percent higher than a year ago.

The employment increase in the first half of 2013 was due to a significant increase in local employment. Growth in foreign employment moderated. Foreign employment growth (excluding Foreign Domestic Workers) slowed to 27,000, down from the gains of 34,100 in the same period of 2012. This was the smallest growth since the first half of 2010, reflecting the continued fall in the number of Employment Pass (EP) holders and slower growth in Work Permit (WP) and S Pass holders.

Growth in foreign workers was largely driven by the construction sector due to infrastructure and housing developments. 

Singapore’s Unemployment Rate Confirmed at 2.1% in Q2

Ministry of Manpower | Joana Taborda |
9/13/2013 10:11:56 AM