Singapore – Total jobs up by 16,700, unemployment rate at 2.1%

The labour market showed further signs of improvement in the third quarter, the Singapore Ministry of Manpower reported.

Total employment growth more than doubled in the third quarter while the resident unemployment rate and retrenchments remained lower than in the same period a year ago. However, the ratio of job vacancies to unemployed persons dipped, suggesting some easing in the tightening of the labour market, according to the Ministry.

Total employment, excluding foreign domestic workers, increased by 16,700 in the third quarter, up from growth of 6,500 in the previous quarter. Employment growth occurred mainly in sectors such as community; social and personal services; financial and insurance services; information and communications; and professional services.

The ratio of job vacancies to unemployed persons dipped to 1.05 in September from 1.10 in June, but there continues to be more vacancies than job seekers for the third consecutive quarter.

Singapore’s overall unemployment rate edged up to 2.1% in September from 2.0% June. All rates remained at or below those in September 2017; however, they were slightly higher than the two-year lows observed in March 2018, reflecting a continued inflow of job seekers into the labour market.

Going forward, hiring momentum may moderate against a backdrop of external trade tensions and slowing growth in Singapore’s key final demand markets, the ministry stated.

Source:: http://www2.staffingindustry.com/row/Editorial/Daily-News/Singapore-Total-jobs-up-by-16-700-unemployment-rate-at-2.1-48411