Unemployment rate for Singaporeans continues upward trend in Q2: MOM
SINGAPORE: The unemployment rate for Singaporeans continued its upward trend in the second quarter of 2019, according to preliminary figures released by the Ministry of Manpower (MOM) in its Labour Market Report on Friday (Jul 26).
It said that total employment growth was lower than the previous quarter and a year ago, suggesting greater caution in hiring. The seasonally adjusted overall unemployment rate held steady in June at 2.2 per cent, but rose slightly for residents from 3 per cent in the previous quarter to 3.1 per cent in the April to June quarter.
In June, about 64,300 citizens and 72,400 residents were unemployed, compared with 62,200 citizens and 69,700 residents in March.
Total employment growth in the second quarter of 2019 (excluding foreign domestic workers) grew by 4,000, lower than the 10,700 figure in the first quarter and the same period last year (6,500).
job growth was robust across sectors including services and construction. However, Manufacturing continued to contract for the third consecutive quarter, as manufacturing output declined.
Retrenchments were lower than at 2,300 when compared with the first quarter (3,230) of 2019 and the same period (3,030) in 2018.
"This suggests that while firms had slowed down their hiring, they were not laying off existing workers," said MOM.
Services continued to form the bulk of retrenchments (74 per cent), followed by manufacturing (22 per cent) and construction (4.3 per cent).