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Singapore’s unemployment rates stay low in November: MOM
SINGAPORE’S unemployment rates dipped slightly in November and held steady at around pre-pandemic levels, according to the latest figures from the Ministry of Manpower (MOM) on Monday (Jan 9).
The overall unemployment rate nudged down slightly to 1.9 per cent, from 2 per cent the month before.
Resident unemployment was the same as the previous month at 2.8 per cent, while citizen unemployment dropped to 2.9 per cent, from 3 per cent before.
There were 65,700 unemployed residents in November, of whom 58,800 were citizens.
The ministry began releasing monthly unemployment rates during the pandemic, from August 2020 onwards. Previously, they were released only on a quarterly basis.
“As the labour market remains tight, we expect the resident unemployment situation to hold steady,” said the ministry. Even so, short-term fluctuations can be expected as unemployment rates have reached a steady state.
“These are likely to be frictional in nature, reflecting voluntary movements in and out of jobs and the labour force,” MOM added.
Source: https://www.businesstimes.com.sg/singapore/singapores-unemployment-rates-stay-low-november-mom