Singapore’s unemployment rate surpasses financial crisis peak

• Oct 07, 2020

SINGAPORE: Singapore’s overall unemployment rate rose to 3.4% in August, official data showed, the highest since the middle of 2004 as businesses shed jobs due to the coronavirus pandemic.

The rate nudged above a 3.3% peak hit during the global financial crisis in September 2009, the data showed.

The city-state last month began releasing jobless data on a monthly basis, on top of quarterly numbers which hit a decade high in the second quarter of this year. Provisional third quarter data is due later this month. – Reuters