Singapore’s labour market remains quite stable
Singapore’s Ministry of Manpower has reported that the country’s labour market in the third quarter of this year saw no major changes compared with the second quarter.
A corner of Singapore (Source: channelnewsasia) Hanoi (VNA) – Singapore’s Ministry of Manpower has reported that
the country’s labour market in the third quarter of this year saw no major
changes compared with the second quarter.
In its latest preliminary report, the ministry estimated that unemployment rate in the first quarter remained unchanged from the same period in 2016, and the unemployment rates of Singaporean residents and citizens were higher.
Taking a quarter-on-quarter basis, the seasonally adjusted overall unemployment rate declined slightly from 2.2 percent in June to 2.1 percent in September, while the unemployment rate for citizens declined from 3.3 percent in June to 3.2 percent in September, and the unemployment rate for residents remained at 3.1 percent.
The ministry forecast that the resident unemployment rate could remain high in the medium term due to on-going economic restructuring, shift in composition of resident labour force and job-skills mismatch. But it predicted that Singapore's labor demand will pick up in the fourth quarter of this year, in line with seasonal hiring as seen in previous years.-VNA
In its latest preliminary report, the ministry estimated that unemployment rate in the first quarter remained unchanged from the same period in 2016, and the unemployment rates of Singaporean residents and citizens were higher.
Taking a quarter-on-quarter basis, the seasonally adjusted overall unemployment rate declined slightly from 2.2 percent in June to 2.1 percent in September, while the unemployment rate for citizens declined from 3.3 percent in June to 3.2 percent in September, and the unemployment rate for residents remained at 3.1 percent.
The ministry forecast that the resident unemployment rate could remain high in the medium term due to on-going economic restructuring, shift in composition of resident labour force and job-skills mismatch. But it predicted that Singapore's labor demand will pick up in the fourth quarter of this year, in line with seasonal hiring as seen in previous years.-VNA
You should also see
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
See more
ASEAN
UK supports ASEAN’s economic integration
The UK delegation to ASEAN held a seminar in Jakarta, Indonesia on April 24 to discuss the ASEAN-UK economic integration programme.
ASEAN
ASEAN Future Forum 2024 wraps up in Hanoi
The ASEAN Future Forum 2024 (AFF 2024) wrapped up in Hanoi on April 23 after a day of productive discussions.
ASEAN
ASEAN Future Forum 2024 looks to ensure comprehensive security for community
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
ASEAN
ASEAN Future Forum 2024 enters first session
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
ASEAN
Canada, ASEAN consolidate climate change response, economic cooperation
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
