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Job Market Improves With More Openings Amid Fewer Layoffs

Posted on 19/06/2018 by

JOB MARKET IMPROVES WITH MORE OPENINGS AMID FEWER LAYOFFS

As Singapore’s economy expands faster than initially forecast, seasonally-adjusted unemployment fell half a point in Q1 2018 to 3% for Singaporeans. When permanent residents are included in the mix, the rate is 2.8%, a reduction from last year’s 3.2%.

Quoted in The Straits Times, dated 14 June 2018, Mr Joshua Yim, CEO of Achieve Group commented that the rate for Singaporeans is usually higher, as foreigners may leave the country when they become jobless.

Job vacancies now outnumber the unemployed, the Ministry of Manpower’s labour market report also showed. Layoffs fell more than 40% from the same time last year to 2,320 – a five-year low.

Source: The Straits Times, dated 14 June 2018.
https://www.straitstimes.com/singapore/manpower/job-market-improves-with-more-openings-amid-fewer-layoffs