Singapore: Singapore’s whole unemployment fee in January was 3.2 per cent in January, based on the Ministry of Manpower (MOM) month-to-month unemployment report launched on Wednesday (7 April).
That is the fourth consecutive month of decline within the general unemployment fee in Singapore.
Residents – Singaporeans and everlasting residents – noticed the unemployment fee fall from 4.3 p.c to 4.1 p.c in February. For residents, the unemployment fee fell from 4.5 p.c to 4.3 p.c in February.
Based on the MOM report, 96,800 residents have been unemployed in February, together with 85,900 residents.
In a Fb submit on Wednesday, Manpower Minister Josephine Teo mentioned, “Though the unemployment fee is rising and has not but returned to pre-COVID ranges, we’re seeing good progress with the rise in jobs.”
READ: 130,000 native hires by 27,000 corporations beneath Jobs Progress Incentive in 3 months: MOM
He mentioned the ministry just lately paid Jobs Progress Incentive (JGI) to 27,000 employers, who had collectively employed 130,000 native folks within the first three months of implementing the scheme.
JGI is a wedge subsidy scheme that encourages corporations to have extra Singaporeans and everlasting residents. It was first introduced in August final 12 months and meant to final for 5 months, with an extra S $ 5.2 billion boosted in price range 2021 and prolonged to September.
“It’s heartening to see that the federal government’s assist for employers for native hiring has left them bare to contemplate a extra numerous group of job seekers. This consists of folks from totally different sectors who haven’t beforehand been employed.” Have been, and whose age was 40 and over. ” Stated Mrs. Teo.
She additionally warned that with every drop within the unemployment fee, the subsequent drop “might be tougher to acquire”.
READ: Quickest decline in employment generated by immigrant staff in Singapore for greater than 20 years: MOM
Its greater than 20 years in 2020 noticed a pointy drop in Singapore’s whole employment because the COVID-19 pandemic affected the financial system and “circuit breakers” pressured many companies to droop operations in April and Might.
In September final 12 months, the resident unemployment fee was 4.8 p.c and the general unemployment fee was 3.5 p.c that month.
MOM has been releasing month-to-month unemployment figures since July 2020. Beforehand, the charges have been revealed quarterly.