Unemployment in Singapore is at its highest since 2009

The unemployment in Singapore has crept up in the third quarter of 2019 to the highest level since 2009, as more workers were retrenched, finds latest preliminary figures on jobs released by the Ministry of Manpower (MOM) Singapore.

Meanwhile, the employment growth has shot up to the highest level since 2014. The overall seasonally adjusted unemployment rate moved up to 2.3 percent in September, up from 2.2 percent in June. The last time the rate was 2.3 percent was in December 2009.

The rate for Singaporeans rose to 3.3 percent, from 3.2 percent, while the rate for citizens and permanent residents combined rose to 3.2 percent, from 3.1 percent. 

The September rates for citizen and resident unemployment were last reached in June 2017 and March 2017 respectively.  

Retrenchments rose to 2,900 last quarter, up from 2,320 in the preceding quarter and 2,860 a year ago.  

The total employment, excluding foreign domestic workers, rose by 22,400 from July to September, the report finds. This was largely due to 16,100 more people finding work in the service sector.  

The manufacturing sector employed 1,200 more workers, after three consecutive quarters of decline. It is only the fourth time the sector has seen positive employment growth since the start of 2014.

The report also finds that 5,300 more people were also employed in construction last quarter. The sector's third consecutive quarter of expansion comes after 11 quarters of falling employment.