Singapore unemployment rate rises to 3% in 1H16

Total employment also grew slower by 11,600.

The city-state’s employment numbers were uninspiring in the first half of 2016, with employment growth remaining low, while unemployment and redundancies rising.

According to a press release by the Ministry of Manpower, this reflects the subdued external economic environment, the continued restructuring of the economy, and structural slowing of local labour force growth.

After declining in March 2016, the MoM said the unemployment rate rose to 3.0% in the first half, while the resident long-term unemployment rate though remaining low, has risen from 0.7% in June 2015 to 0.8% in June 2016.

Meanwhile, total employment grew by 11,600 in the first half, but lower than the growth in the same period in 2013-2014.

“The moderation in total employment growth took place amid subdued global economic conditions and modest growth outlook,” the report added./

Local employment was flattish, 0.4% higher than June 2015.

“The increase was comparable to the 0.3% growth in June 2015, but significantly lower than the growth of about 4.0% in June 2013 and June 2014,” the report added.