Singapore continues reporting negative employment data in Q2

Singapore’s employment fell by a record 103,500 in the second quarter of 2020, four times higher than that in the previous quarter, according to the Ministry of Manpower's Labour Market Report released on September 14.

Illustrative image (Source: straitstimes)
Illustrative image (Source: straitstimes)
Retrenchments more than doubled to 8,130 in the quarter, compared to 3,220 in the first quarter. This brings the total number of retrenchments in the first half of the year to 11,350.
The number of people placed on shorter work weeks or temporary layoffs in Q2 also rose to an unprecedented high of 81,720 compared to 4,190 in the first quarter.
Seasonally adjusted unemployment rate of Singaporean citizens gradually rose from 3.5 percent in March to 4 percent in June and 4.3 percent in July, while overall unemployment rate increased from 2.4 percent in March to 3 percent in July.
A total of 89,700 residents were unemployed in June, compared to 76,200 in March.
These are the most negative figures related to employment recorded in Singapore after the global financial crisis 2009.

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