SINGAPORE: Although the path to recovery is projected to be lengthy, Singapore’s unemployment situation continued to improve in May, which authorities hailed as a positive omen. According to the Ministry of Manpower’s (MOM) latest monthly unemployment situation report, the total jobless rate fell to 2.8 percent in May from 2.9 percent the previous month.
Citizens’ unemployment declined to 4% in May from 4.1 percent in April, while residents’ unemployment fell to 3.8 percent from 3.9 percent.
In May, 88,600 inhabitants, including 79,000 citizens, were unemployed. Singapore citizens and permanent residents are referred to as residents. Singapore’s unemployment rate peaked in September 2020 and has subsequently remained stable or decreased month to month. READ: Employment rises faster than predicted in Q1, although recovery is hampered by uncertainties: On Thursday (July 1), MOM Manpower Minister Tan See Leng stated the decreased trend in unemployment rates is “a good sign that our labor market is constantly strengthening.” “However, we remain cautiously optimistic about the situation as we continue to witness global reappearance of the virus and have yet to see the full impact of Phase 2 (Heightened Alert) limitations, which began in mid-May,” Dr Tan wrote on Facebook. “It’s possible that the road to recovery will be long. I encourage businesses to take advantage of available incentives, such as the Jobs Growth Incentive, to boost local employment, as well as current programmes to innovate and reform their work processes, as we restructure and reinvigorate our economy in order to create excellent jobs.” He also urged job searchers to seek assistance from Workforce Singapore (WSG) and NTUC’s Employment and Employability Institute (e2i), as well as the 24 SGUnited Jobs and Skills Centres located around Singapore. Since July 2020, MOM has published monthly unemployment numbers. The rates were previously released on a quarterly basis./n
