Financial News: Singapore Q2 Jobless Rate Confirmed At 2.0%

Singapore Q2 Jobless Rate Confirmed At 2.0%

09/17/2024 - 07:25:00 (RTTNews)

(RTTNews) - Singapore's unemployment rate decreased slightly as initially estimated in the second quarter, the latest data from the Ministry of Manpower showed on Tuesday.

The seasonally adjusted jobless rate dropped to 2.0 percent in the second quarter from the stable rate of 2.1 percent in the March quarter.

The labor market expanded faster in the second quarter than in the first quarter as the economy continued to expand. Employment grew by 11,300 compared with 4,700 in the March quarter.

"Looking forward, we expect labor market momentum to be sustained, with wages and employment continuing to grow as the economy picks up," the ministry said.

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