SUBSCRIBE: Newsletter

Human Resources

Toggle

Article

Unemployment remains low in Singapore



Gathering 50 top regional chief HR and senior business leaders at a three-day business retreat forum, the exclusive HR Innovation Leaders' Summit will happen from September 9-11. Get involved.

Despite more workers being laid off last year, the unemployment rate has remained low in the first quarter of 2015.

According to a report released by the Ministry of Manpower, the overall unemployment rate in Singapore fell from 1.9% in December 2014 to 1.8% in March this year.

Additionally, the unemployment rate for Singapore citizens  took a dip from 2.7% to 2.5%.

The report attributed this dip to the decline in layoffs in the first quarter of this year.

Roughly 3,500 workers were laid off in Q1 2015, slightly lower than the 3,910 laid off in Q4 2014.

While employment in March 2015 grew by 2.9%, bringing the total number of employed people to 3,624,200, it has slowed from the previous quarter.

The report concluded the labour market is set to remain tight, with the number of vacancies outnumbering job-seekers.

“This may be reflective of the anticipated slowing of the local labour supply going forward,” the report stated.

Image: Shutterstock



Back in Hong Kong for its fourth year on September 5 at the Hotel ICON, Learning and Development Asia is bigger and better than ever before and earned its reputation as the most influential L&D strategy event in Asia.
Pre-order your tickets now!
Contact us now for an amazing group discount

Read More News

Trending

Leave a Reply

You must be logged in to post a comment.