Singapore’s labour market shows signs of recovery as unemployment rates fall for second straight month

SINGAPORE: Singapore’s labour market showed"a broad improvement" in the last quarter of 2020 as preliminary estimates show that unemployment continued to dip in December while more residents found jobs.

The annual average unemployment rates in 2020 also rose in comparison with 2019, with overall unemployment up from 2.3 per cent to 3.0 per cent.The resident unemployment rate went up from 3.1 per cent in 2019 to 4.1 per cent in 2020, while the citizen unemployment rate increased from 3.3 per cent in 2019 to 4.2 per cent in 2020.

Non-resident employment shrunk by another 42,400 in the fourth quarter of 2020. For the entire year, non-resident employment plunged by 181,500, or around 16 per cent.The decline in non-resident employment was"broad-based across all sectors", while resident employment fell mostly in sectors hit hard by COVID-19, such as accommodation, wholesale trade and retail trade, said the ministry.

But employment - mainly of residents - grew in the services sector, primarily in public administration and education. Seasonal hiring for the year-end festive period also boosted employment among food and beverage services, and retail trade.

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