World

Singapore: More workers lose jobs amid economic slowdown

More workers in Singapore lost their jobs last year amid weaker economic conditions, although overall unemployment remained low, according to the latest report released by the country’s Ministry of Ma
Singapore: More workers lose jobs amid economic slowdown ảnh 1Illustrative photo (Source:VNA)

Singapore (VNA) - More workers in Singapore lost their jobs last year amid weaker economic conditions, although overall unemployment remained low, according to the latest report released by the country’s Ministry of Manpower (MOM).

The report showed that a total of 15,580 workers were laid off in 2015, the highest since the global financial crisis in 2009 and up 20 percent compared to 2014.

Just over half of Singaporean and Permanent Residents who were made redundant from July to September 2015 were able to find employment by the end of the year, down 55 percent against the previous quarter and 59 percent against the last quarter of 2014.

Last year, local employment grew at the slowest pace in over a decade. The number of Singaporeans and Permanent Residents in jobs rose by just 700 over the year, a stark change from 2014, when local employment grew 96,000.

However, the unemployment rate last year remained unchanged at 2.9 percent for Singaporeans, with a slight uptick to 2.8 percent when Permanent Residents are included, up from 2.7 percent in 2014.

According to MOM, the structural shift to slow local workforce growth coincided with a cyclical slowdown.

Employment growth declined due to export-oriented sectors such as manufacturing and wholesale trade seeing slowdowns, along with gloomy real estate and retail markets.-VNA

VNA
#redundancy #Ministry of Manpower #employment Singapore
Follow VietnamPlus

Related News

Singapore has undergone the fourth consecutive year of unemployment escalation. (Photo: VNA)

Singapore’s unemployment rises in 2014

Singapore has undergone the fourth consecutive year of unemployment escalation, spurred by the nation’s economic restructuring, announced the Ministry of Manpower (MOM) on April 23.
Pasir Panjang PSA terminal of Singapore (Photo: AFP/VNA)

Singapore sees lower unemployment rate

Singapore’s unemployment rate stayed low and trended down over the past four quarters as the labour market remained tight, according to the country’s Ministry of Manpower (MOM).
Singapore makes room for foreign manpower

Singapore makes room for foreign manpower

Singapore is piloting a new scheme to allow small- and medium-sized enterprises (SMEs) to employ foreign workers, said the country’s Ministry of Manpower (MOM).

See more

Malaysia establishes ‘war room’ to ensure water security

Malaysia establishes ‘war room’ to ensure water security

The establishment of the war room reflects the Malaysian government’s commitment to shift from a reactive approach to a more proactive, data-driven one in managing national water challenges, particularly amid increasingly unpredictable weather conditions caused by global climate change

Indonesia diversifies supply sources to ensure energy security

Indonesia diversifies supply sources to ensure energy security

Indonesia is facing significant supply pressure as crude oil consumption reaches approximately 1.6 million barrels per day, much lower than the domestic production at only around 600,000 barrels per day, forcing the country to rely heavily on imports.

Indonesian-branded cosmetic and personal care products are available at supermarkets and shopping malls (Photo: VNA)

Indonesia aims to master cosmetics industry value chain

Key drivers include its large population, expanding middle class, and rapidly rising demand for beauty products, especially among young consumers. The market has reached billions of US dollars and is projected to maintain strong growth in the medium term.

The Anthropic logo is seen in this illustration taken on Mar 1, 2026. (File photo: Reuters)

Singapore warns of cyber risks from Frontier AI models

According to CSA, advanced AI models – among the most cutting-edge systems today – can significantly shorten the time needed to identify system vulnerabilities and develop exploitation tools, reducing the process from months to just hours.

Helicopter carrying eight reported missing in Indonesia

Helicopter carrying eight reported missing in Indonesia

Indonesian authorities are urgently conducting a search and rescue operation after receiving reports that a helicopter carrying eight people suddenly lost contact on the morning of April 16 in West Kalimantan on the island of Borneo.

Malaysia’s job losses surge 47% in the first quarter of 2026 (Photo: AFP)

Malaysia's layoffs rise 47% in first quarter

The report, based on figures from Malaysia’s Social Security Organisation, showed layoffs peaked in January with around 10,700 cases before easing to 7,500 in February and 5,900 in March. Despite the slowdown toward the end of the quarter, the total remained significantly higher than the roughly 16,500 layoffs recorded in the same period of 2025.