Singapore’s overall unemployment rate edges down to 2.8% in May

The overall unemployment rate in the country trended down in May, falling marginally from 2.9% in the previous month.
By: | July 2, 2021

These figures were from the latest monthly unemployment situation report by the Ministry of Manpower (MOM). 

The unemployment rates for citizens and residents both fell by 0.1 percentage point to 4.0% and 3.8% in May month-on-month, respectively, continuing the downward trend from the peaks seen last September.  

Out of the 88,600 residents who were jobless in May, 79,000 were citizens and the remaining 9,600 were permanent residents. 

The downward trend in the unemployment rates is “a good sign that our labour market is steadily improving”, said manpower minister Tan See Leng in a post on Facebook. 

“However, we remain cautiously optimistic about the situation as we continue to see resurgence of the virus globally and have also yet to see the full impact of Phase 2 (Heightened Alert) restrictions, which began in mid-May,” said Dr Tan. 

He added, “The road to recovery may be a long one. As we restructure and rejuvenate our economy so that we can create good jobs, I urge businesses to tap on available support such as the Jobs Growth Incentive to expand local hiring, as well as existing schemes to innovate and transform their work processes.” 

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Those who need help with their job search can approach various agencies such as Workforce Singapore (WSG) and NTUC’s Employment and Employability Institute (e2i), including through the 24 SGUnited Jobs and Skills Centres across Singapore, he said.