Jobless rate and layoffs rise
Singapore 2018Q2 (APR-JUN)
The Ministry of Manpower (MOM) has announced the labour market stats in 2018Q2 as follows:
- Total layoffs hit 2,500 records, increasing from 2,320 during 2018Q1. However, the layoffs number during 2017Q2 was 3,640.
- The unemployment rate has increased to 2.1% while it was 2.0% during 2018Q1.
The layoffs were most seen in the service firms and manufacturers.
The number of new employment during 2018Q2 was 7,100, which was 400 more than 2018Q1.
Patrick tay, Labour MP and NTUC assistant secretary-general, said on his facebook post:
retrenchment figures are expected to inch up in the next quarter due to disruption and reorganisation of businesses,and amid uncertainties caused by trade sanctions imposed by the United States.
Read more on the original article here:
https://www.businesstimes.com.sg/government-economy/unemployment-retrenchments-in-singapore-up-slightly-in-q2-mom
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