Unemployment rate in Singapore jumped to 2.1%

Despite increase in job creation.

According to the Ministry of Manpower, the tight labour market showed signs of easing in the second quarter of 2013, as layoffs rose amid business restructuring and consolidation.

Preliminary estimates show that the seasonally adjusted overall unemployment rate was 2.1% in June 2013, up from 1.9% in March 2013 and 1.8% in December 2012.

The resident unemployment rate similarly rose to 3.0% in June 2013 from 2.9% in March 2013 and 2.7% in December 2012, while the unemployment rate for citizens increased to 3.1% from 2.9% in the preceding two quarters.

The MOM noted that unemployment increased for the second consecutive quarter, though it was still low and employment creation remained high.

Employment creation in the second quarter of 2013 (32,500) increased from the previous quarter (28,900) and was slightly above the second quarter of 2012 (31,700). This brought total employment to 3,419,000 in June 2013, which was 4.0% higher than a year ago.

Layoffs rose in the second quarter of 2013, affecting an estimated 2,900 workers, up from 2,120 in the preceding quarter and 2,210 in the second quarter of 2012. Nonetheless, it remained below the recessionary highs of 6,000 to 12,800 per quarter.

Also Read

Four in 10 S’poreans say superiors recognise importance of payments

1 in 2 workers comfortable discussing mental health with mgmt: survey

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit