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Singapore records highest unemployment rate over the past decade

Singapore’s unemployment rate rose to 2.9 percent in the second quarter of 2020 from 2.4 percent in the preceding quarter, the highest level over the past decade, according to the country’s Ministry of Manpower (MOM).
Singapore records highest unemployment rate over the past decade ảnh 1Resident unemployment rate rose to 3.9 percent in the second quarter from 3.3 percent in the preceding quarter. (Photo: Xinhua)

Singapore (VNA) – Singapore’sunemployment rate rose to 2.9 percent in the second quarter of 2020 from 2.4percent in the preceding quarter, the highest level over the past decade,according to the country’s Ministry of Manpower (MOM).

The total employment (excluding foreign domesticworkers) plunged more than 25 percent.  

Resident unemployment rate rose to 3.9 percentin the second quarter from 3.3 percent in the preceding quarter.

In June only, 79,600 Singaporean citizens wereunemployed.

All three broad sectors - manufacturing,services and construction – saw a sharp decline in employment in thesecond quarter.

According to the Singapore’s Ministry of Tradeand Industry, its economy shrunk by 41.2 percent in the reviewed period./.
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