Monday, August 21, 2017 - 19:22:15

Singapore’s annual unemployment rate rises

VNA Print

A view of Singapore. (Photo: AFP/VNA)
 
Singapore (VNA) – The annual average unemployment rate in Singapore last year rose to 3 percent from 2.8 percent as a consequence of subdued economic conditions.

According to the official full-year data released by the country’s Ministry of Manpower on March 15, the unemployment rates of people aged between 30 and 39 and those aged over 50 were highest. Notably, degree-holders failing to find a job reached 1 percent, the highest rate since 2004.

In 2016, more than 19,000 workers were retrenched or had their contracts aborted, an increase of 23 percent from a year earlier. Though the rate was not as high as that of 2009 when Singapore’s economic slowdown made over 23,000 workers unemployed, it was the highest over the last four years.

The unemployment rate of Singapore had remained around 2.8 percent in four consecutive years.-VNA
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