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Singapore Company News: Singapore Jobless Rate Hit 2.2 Percent in June – MOM
Singapore Company News: Singapore Jobless Rate Hit 2.2 Percent in June – MOM
A new data released by Singapore Ministry of Manpower (MOM) on Wednesday showed a significant drop in the city-state’s unemployment rate to seasonally adjusted 2.2 percent in June.
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(pr4links.com)
20/09/2010
"Singapore’s job vacancy to unemployment ratio is pegged at 1.04 in June, slightly higher compared to the 0.90 recorded a month earlier."
September 20,2010 - A new data released by Singapore Ministry of Manpower (MOM) on Wednesday showed a significant drop in the city-state’s unemployment rate to seasonally adjusted 2.2 percent in June.
The ministry, according to its quarterly labor market report, has pegged Singapore’s unemployment rate at 2.2 percent in June, unchanged from the previous month.
The ministry said that redundancies in the labor market remained to be at pre-recession levels with some 2,280 workers pulled out in the second quarter of 2010, slightly lower than 2,400 in the first quarter.
The report also showed that job openings outnumbered the number of job seekers for the first time in Singapore in the second quarter of this year, driven by fresh new job offers in the service sector.
Singapore’s job vacancy to unemployment ratio is pegged at 1.04 in June, slightly higher compared to the 0.90 recorded a month earlier.
Meanwhile, total employment rose by 24,900 jobs in the second quarter; while a total of 61,400 employment gains were recorded in the first half of this year compared to 13,800 losses. It was also the fourth consecutive quarter the employment rate posted gains.
Of the 61,000 new jobs in the city-state, 24,500 were from the service sector lead by the construction industry with some 2,000 new hires. However, following an impressive growth of 3,100 in the first quarter, employment in the manufacturing sector was slashed by at least 2,300 in the second quarter.
Also, job vacancies in Singapore reached 45,100 in June, around 73 percent increase from the same period last year and 12 percent increase from March this year. Seasonally adjusted figures also showed that job vacancies in the city-state rose for the fifth consecutive quarter.
With this, reemployment prospects for Singapore residents were much better in the second quarter, with 55 percent of laid off workers now under new employment terms.
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