Singapore Q3 Jobless Rate Lowest in A Year
Singapore’s seasonally adjusted unemployment rate edged down to 2.1 percent in the September quarter of 2017 from 2.2 percent in previous three quarters, preliminary estimates showed. It was the lowest jobless rate since the third quarter 2016.
10/27/2017 11:08:51 AM
In the three months to September jobless rate was unchanged for residents (3.1 percent) while it fell for citizens (3.2 percent from 3.3 percent in Q2).
Some 3,600 workers were laid off, lower than in the second quarter (3,640). The decrease over the quarter was broad-based across industries. Services continued to form the bulk of retrenchments/ redundancies (66 percent), followed by manufacturing (19 percent) and construction (15 percent).
Total employment fell by 2,500, lower than a 7,900 decline in the preceding quarter. The decline in the third quarter was mainly due to a decrease in Work Permit Holders in Marine and Construction, a result of low oil prices and continued weakness in construction activities respectively. However, this was partly offset by the pickup in employment in Services including Professional Services, Information & Communications, Administrative & Support Services, Finance & Insurance and Accommodation.