SOME 12,400 jobs in Singapore were lost in the second quarter, double the losses in the first three months when employment contracted by 6,200, said the Ministry of Manpower on Friday.
This is the first time that employment has contracted for two consecutive quarters since the 2003 economic downturn.
On a non-seasonally adjusted basis, the overall unemployment rate rose from 3 per cent in March to 4.2 per cent in June.
Among the resident labour force, the non-adjusted unemployment rate was 6 per cent in June, higher than the 4.4 per cent in the previous quarter, reflecting the increase in job seekers as tertiary graduates entered the labour market and students sought employment during the mid-year school vacation.
An estimated 116,600 residents were jobless in June. The seasonally adjusted figure was 91,800.
Manufacturing again bore the brunt of job losses, shedding 17,600 workers.
The construction sector is still going strong, adding 3,400 jobs to its workforce, but the gains were lower than in earlier quarters - 8,300 in the first quarter and 22,400 in the same quarter a year ago.
Services added 2,100 workers, also showing lower gains than before - 7,500 in the first quarter and 38,300 in the same period last year.
According to preliminary estimates, 4,800 workers were retrenched and 700 contracts were terminated prematurely, resulting in a total of 5,500 workers made redundant in the second quarter. This is less than half the 12,760 redundancies in the earlier three months, comprising 10,900 workers retrenched and 1,860 workers whose contracts were terminated prematurely.
MOM said the overall unemployment rate stabilised at a seasonally adjusted 3.3 per cent in June, unchanged from a quarter ago.
Among the resident labour force, the seasonally adjusted unemployment rate fell from 4.8 per cent in March to 4.6 per cent in June.
"In the difficult job market, more people are deferring job searches and pursuing courses, including those supported under SPUR," said MOM, referring to the Skills Programme for Upgrading and Resilience (Spur) which covers worker training.
Jobless residents who attend Spur will not be counted in the unemployment pool, hence reducing the jobless rate.
The full report on the second quarter labour market will be released on Sept 15.
- The Straits Times
Retrenchments down sharply, unemployment stabilises in Q2
The number of jobs lost in Singapore doubled to 12,400 in the second quarter of this year, according to the Manpower Ministry's (MOM) preliminary estimates on Friday.
This is the first time that employment has contracted for two consecutive quarters since the 2003 economic downturn. Manufacturing, again, bore the brunt of job losses.
Construction and services sectors increased their workforce, but the gains were lower than in previous quarters.
On the other hand, retrenchments appeared to have eased. MOM said 4,800 workers were laid off and 700 contracts were terminated prematurely in the second quarter.
This means 5,500 workers were made redundant during that period – half the number compared to the previous quarter.
Overall unemployment rate also stabilised at 3.3 per cent in June, unchanged from a quarter ago.
Among the resident labour force, the unemployment rate declined from 4.8 per cent in March to 4.6 per cent in June.
MOM said in the difficult job market, more people are deferring job searches to pursue training courses, including those supported under the Skills Programme for Upgrading and Resilience (SPUR).
An estimated 91,800 residents were unemployed in June.
- 938LIVE
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