Chart of the Day: Check out Singapore's flat unemployment rate in Q3

Overall unemployment remained flat at 2.1%.

Preliminary estimates showed that overall unemployment rate in September 2016 was unchanged from June 2016, figures from Ministry of Manpower revealed.

"Unemployment was broadly similar among residents and citizens. Overall employment contracted in the third quarter of 2016, after slower growth in the previous two quarters. While the number of layoffs fell from the previous quarter, it was higher than a year ago," MoM noted.

The seasonally adjusted unemployment rate was unchanged at 2.1% in September 2016, compared to June 2016. Over the same period, the unemployment rate was broadly similar for residents (3.0% to 2.9%) and citizens (3.1% to 3.0%). In September 2016, an estimated 66,500 residents, including 58,500 Singapore citizens were unemployed in September 2016. This was lower than 68,400 and 60,200 in June 2016.

Meanwhile, total employment contracted in the third quarter of 2016 (-3,300), after slower growth in the previous two quarters. This is the second time total employment has contracted since the 2008/2009 recession.

"There was a broad-based slowdown in employment growth in the third quarter of 2016. Employment growth in services (5,700) slowed from the previous quarter (7,600). Employment in manufacturing continued to decline (-3,700) for the eighth consecutive quarter. The magnitude of decline was largely similar to the previous quarter (-3,400), as business outlook for the sector remained unchanged," the ministry said.

Employment change in construction also turned negative (-5,200), after four quarters of moderated increases. This occurred amid declines in private sector construction activities. In September 2016, total employment reached 3,670,200, 0.8% higher than a year ago. This was lower than the 1.3% growth in June 2016 and the average growth of about 2.0% in 2015.

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