Dip in Singapore’s Unemployment Rate
The unemployment rate for Singapore saw a dip from 2.8% to 2.7% in August, despite the flip-flopping COVID-19 measures.
This is a sign that the economy is indeed recovering, albeit gradually.
Even with the uptick of COVID-19 cases, Singaporeans are still keeping their jobs, and these numbers fluctuate mainly due to layoffs of temporary staff and workers.
As Singapore gradually moves towards endemic living, unemployment rates should also stabilise in general.
However, the Minister of Manpower said to expect recovery to be uneven across sectors, as each sector is affected by the pandemic differently. Dining-in restrictions certainly hit the Food & Beverage industry the most.
As of August, there were 84 400 unemployed residents, and 75 800 were citizens.
Safe to say, the labour force is heading towards an OK direction for now.
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