Financial News: Singapore Jobless Rate Rises Slightly In Q1

Singapore Jobless Rate Rises Slightly In Q1

04/28/2025 - 02:33:00 (RTTNews)

(RTTNews) - Singapore's jobless rate increased slightly in the first quarter but remained within the non-recessionary range, the Ministry of Manpower said Monday. The resident unemployment rate rose slightly to 2.9 percent in the first quarter from 2.8 percent in the fourth quarter of 2024.

While the citizen unemployment rate held steady at 3.1 percent in March compared to February, it was higher than the 2.9 percent registered in December. "Unemployment rates also remained within the non-recessionary range," the ministry said.

The ministry observed that the moderation of employment growth and a slight uptick in unemployment mirrors the deterioration in Singapore's economic outlook.

Although the labor market has continued to expand, the ministry expects the labor market to soften going forward given greater uncertainties in external growth prospects.

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