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Singapore's unemployment rate increases in Q2: MOM report

Xinhua, July 28, 2016 Adjust font size:

Amid subdued global economic conditions, unemployment among Singapore citizens and residents increased in the second quarter of 2016, according to the report by the Manpower Research and Statistics Department of Ministry of Manpower (MOM) on Thursday.

The newly released "Labor Market Advance Release Second Quarter 2016" said that the seasonally adjusted overall unemployment rate rose from 1.9 percent in March to 2.1 percent in June 2016, based on preliminary estimates.

Over the same period, unemployment rate for Singaporeans and Permanent Residents combined increased from 2.7 percent to 3.0 percent, while the rate for Singapore citizens rose from 2.6 percent to 3.1 percent, after declining over the previous quarter.

Amid subdued global economic conditions, employment grew at a slower pace in the second quarter of 2016, compared with the previous quarter and a year ago. The report revealed that total employment grew by 5,500 in the second quarter of 2016, which was mainly driven by services.

Manufacturing continued to see a decline in employment, while employment in construction remained relatively unchanged, the report added.

Total employment reached 3,674,700 in June, 1.3 percent higher than the same period last year. This was similar to the 1.4 percent growth in March 2016, but slower than the average growth of about 2 percent in 2015.

Preliminary estimates showed that the number of workers made redundant rose from 4,710 in the previous quarter to 5,500 in the second quarter of 2016. The figure also grew compared with 3,250 in the same period a year ago. Layoffs fell over the quarter in manufacturing, while it increased in services and stayed relatively unchanged for construction.

MOM said the statistics reflects the subdued economic conditions, restructuring of Singapore's economy and slowing local labor force growth. The ministry will continue to step up tripartite efforts to transform industries, create more jobs of better quality, and help displaced workers to seize new job opportunities through various career and employment support programs. Endit