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Singapore's overall unemployment rate remains low at 1.9 pct in March: report

Xinhua, June 13, 2016 Adjust font size:

Singapore's overall unemployment rate remained low and unchanged at 1.9 percent in March 2016, said Manpower Research and Statistics Department, Ministry of Manpower (MOM) in its quarterly Labor Market Report on Monday.

The report revealed that the unemployment rate for Singapore residents and citizens in March were 2.7 percent and 2.6 percent respectively.

MOM said total employment grew by 13,000 in the first quarter of 2016, lower than the seasonal high growth of 16,100 in the preceding quarter.

The report unveiled that 4,710 workers were made redundant in the first quarter of 2016, lower than 5,370 in the preceding quarter. However, the figure was the highest first quarter redundancies since 2009.

It said that 46 percent of residents made redundant in the fourth quarter of 2015 re-entered employment by March 2016, down from 50 percent in the previous quarter. And the number has been the lowest since June 2009.

Even though job openings continued to outnumber job seekers, the seasonally adjusted ratio has declined to 103 openings per 100 job seekers in March, the lowest since June 2012, said MOM.

The ministry expected that redundancies are to rise in sectors affected by weak external demand amid softer economic conditions and as the economy restructures. Endit