Unemployment and retrenchment rate increased, even as employment rose

Singapore's total employment rate increased in the second quarter of 2018 even as unemployment rates rose.

This occurred as more persons entered the labour force to look for work on the back of continued expansion in economic activities, the Ministry of Manpower said in the latest market report on July 27, 2018.

The unemployment rate rose on the whole, from 2.0 percent in March 2018 to 2.1 percent in June 2018). 

Total employment (excluding Foreign Domestic Workers) grew by 7,100 in the second quarter of 2018. This increase was higher than in the previous quarter, as the declines in construction and manufacturing moderated.

Photo: Connected to India
Photo: Connected to India

Preliminary estimates showed that slightly more workers were retrenched in 2Q 2018 (2,500) compared to the preceding quarter (2,320). This reflects an ongoing restructuring and re-organisation. 

Retrenchments in 2Q 2018 remained lower than a year ago (3,640). They edged up in manufacturing, remained largely unchanged in construction and declined in services.

CtoI News Desk
CtoI News Desk – CtoI

Singapore-headquartered online media company targeting Indian Diaspora across Singapore, US, UK and Dubai. Connected to India covers developments around Indians abroad, informing, engaging and entertaining its audiences.