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Financial News: Singapore's Unemployment Rate Rises In Q2

Singapore's Unemployment Rate Rises In Q2

07/27/2018 - 00:44:00 (RTTNews)

(RTTNews) - Singapore's unemployment rate increased marginally in the second quarter as more people entered the labor force, the Ministry of Manpower reported Friday.

The jobless rate rose to a seasonally adjusted 2.1 percent in the second quarter from 2 percent in the first quarter.

Total employment increased even as unemployment rates edged upwards. The ministry said this occurred as more persons entered the labor force to look for work on the back of continued expansion in economic activities.

Total employment rose 7,100 in the second quarter. This was bigger than the increase of 400 seen a quarter ago, reflecting the moderated pace of contractions in construction and manufacturing employment.

Further, data showed that the number of retrenchments increased 2,500 in the second quarter, reflecting on-going restructuring and reorganization.

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