Singapore’s unemployment rate falls to 3.2 percent in January
Singapore’s overall unemployment rate continued to fall in January thanks to economic stabilisation, according to latest figures released by the Ministry of Manpower (MOM) on March 3.
Singapore’s overall unemployment rate continues to fall in January. (Photo: businesstimes.com.sg)Singapore (VNA) - Singapore’s overall unemployment rate continued to fall in January thanks to economic stabilisation, according to latest figures released by the Ministry of Manpower (MOM) on March 3.
The overall unemployment rate edged down to 3.2 percent, from 3.3 percent in December, while the resident unemployment rate was 4.3 percent, down 0.1 percent.
The citizen unemployment rate was unchanged at 4.5 percent, having earlier decreased from 4.7 percent in November.
There were 101,900 unemployed residents in January, of which 89,300 were citizens.
Minister of Manpower Josephine Teo pointed to initiatives like the Jobs Support Scheme and the SGUnited Jobs and Skills Package that helped Singaporeans stay employed, together with tripartite efforts coordinated by the National Jobs Council.
Since September 2020, the Jobs Growth Incentive has also helped to expand local hiring, she added.
However, Teo said more work needs to be done since long-term unemployment rate is still elevated in the nation, and even for those employed, some are in short-term or transitional positions./.
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