Chart of the Day: Layoffs in manufacturing sector grew to 2,800 in 2019

All sectors’ retrenchments rose in Q4.

This chart from the Ministry of Manpower (MOM) revealed that the number of retrenchments in the manufacturing sector rose from 2,570 in 2018 to 2,800 in 2019, based on advanced estimates. The number grew to 700 in Q4 from only 600 in Q3.

Overall, layoffs in Singapore climbed to 2,700 in Q4 from only 2,470 in Q3 and compared to 2,510 from the same quarter in 2018. All three sectors--manufacturing, services, and construction--recorded a rise in retrenchments. For the whole of 2019, the figures held steady compared with 2018 at 10,700.

In line with these, the unemployment rate edged up 2.3% in 2019 from 2.1% in the previous year. The average jobless rate for residents inched up to 3.2% from 2.9% in 2018, whilst the rate for citizens grew to 3.3% compared to 3% previously.