Singapore Unemployment Rate Confirmed at 2% in Q2
Singapore’s seasonally adjusted jobless rate was recorded at 2.0 percent in the second quarter of 2014, unchanged from the previous period and matching a preliminary estimate, as job openings continued to outnumber job seekers.
9/15/2014 9:36:17 AM
In the second quarter of 2014, the jobless rate for residents improved slightly to 2.8 percent from to 2.9 percent in the previous quarter while for citizens it softened to 2.9 percent from 3.0 percent.
The long-term unemployment rate improved year-on-year at 0.6 percent from 0.7 percent a year ago. There were 13,900 residents who had been looking for work for at least 25 weeks during April to June of 2014, down from 15,400 a year earlier.
Total employment grew by 27,700 in the second quarter of 2014, moderating from the growth of 33,700 in the same quarter last year, but broadly comparable to the 28,300 in the first quarter of 2014. This brought total employment to 3,549,900 in June of 2014, which was 3.8 percent higher than a year ago. This year-on-year rate of growth in total employment moderated from 4 percent a quarter ago.
Compared to the same quarter last year, the unemployment rate at that time registered at 2.1 percent.
During the first half of 2014, the unemployment rate in Singapore remained low amid a tight labor market. The seasonally-adjusted citizen jobless rate was 2.9 percent in June 2014, while the resident long-term unemployment remained amongst the lowest globally at 0.6 percent.
Foreign employment growth continued to slow in the first half of 2014, leading to the moderation of total employment growth of 3.8 percent in June of 2014, compared to 4.2 percent a year ago.