Singapore Unemployment Rate Falls, Fewer Retrenchments

4/27/2018 4:40:55 PM
written By : Team India Se Print

Singapore’s labour market improved slightly in the first quarter of 2018, says the Ministry of Manpower. According to it, unemployment rates were mostly lower and retrenchments also lower  in March 2018 than in December 2017 and a year ago.

Its Labour Market Advance Release First Quarter 2018, issued on April 27, noted: “Total employment declined by a smaller extent than the same period a year ago, due largely to the continued contraction in Work Permit Holders in Construction and Marine Shipyard. All in, these indicators point to a slight improvement in labour market conditions in 1Q 2018.” The report said: “”Total employment (excluding Foreign Domestic Workers) contracted by 2,100 in 1Q 2018, after a seasonal increase in 4Q 2017.”

It added: “Quarter-on-quarter, the seasonally adjusted unemployment rate declined for overall (from 2.1% in December 2017 to 2.0% in March 2018) and residents (from 3.0% to 2.8%). It was unchanged for citizens (3.0%). Unemployment rates in March 2018 were lower than a year ago. In March 2018, an estimated 64,800 residents were unemployed, lower than the 68,500.”

 

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