Singapore's unemployment rate at 1.9 percent in Q1

GMT 10:53 2016 Thursday ,28 April

Arab Today, arab today Singapore's unemployment rate at 1.9 percent in Q1

Unemployment rate in Singapore
Singapore - XINHUA

Singapore's unemployment rate remained low at 1.9 percent in the first quarter, according to preliminary estimates by the Ministry of Manpower (MOM) on Thursday.

Unemployment rate declined among residents and citizens, whch was largely due to a lower labor force participation rate among youths aged 15 to 24, the ministry said.

Total employment grew by 11,400 in the first quarter of 2016. This was lower than the seasonally high growth in the fourth quarter of 2015 and a reversal from the decline in the first quarter of 2015.

The employment increase in the first quarter of 2016 was mainly driven by services, though growth had slowed from the previous quarter, following the end of festivities. While manufacturing employment extended its decline for the sixth consecutive quarter.

On the other hand, employment in construction grew faster in the first quarter than the preceding quarter.

In March 2016, total employment reached 3,667,600, 1.4 percent higher than a year ago. This was faster than the 0.9 percent pace in December 2015.

Preliminary estimates also showed that fewer workers were made redundant in the first quarter of 2016, with layoffs fell over the quarter in manufacturing and construction, and increased in services.

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