Singapore 3Q Unemployment Rate Remains Steady at 2.0%

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The FINANCIAL — Singapore’s overall unemployment rate was 2.0% in the third quarter, unchanged from the previous three months, government data released on October 29 showed, according to Nasdaq.

The unemployment rate for residents rose to 3.0% from 2.8% the previous quarter, while the rate for Singapore citizens rose to 3.1% from 2.9% amid softer economic conditions, according to a statement from the Ministry of Manpower.

The city-state added 16,400 jobs between July and September, compared with 9,700 the previous quarter. However, the number of jobs added was lower than the 33,400 added in the third quarter last year, the data showed.

Layoffs declined for the third consecutive quarter. Some 2,900 workers were laid off between July and September, down from 3,250 the preceding quarter, the ministry said.

The services sector added 17,000 jobs, while the construction industry added 3,800. That was partly offset by a loss of 4,300 jobs in the manufacturing industry, in which jobs have declined for four straight quarters.

 

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