Singapore’s overall unemployment rate in August climbs past global financial crisis’ high

SINGAPORE: Singapore’s overall unemployment rate rose to 3.4 per cent in August, climbing past the high of 3.3 per cent recorded in September 2009 during the global financial crisis.

MOM said it has started to track the unemployment rate on a monthly basis to “monitor the labour situation more closely”. Unemployment rates are usually released on a quarterly basis.The citizen unemployment rate rose to 4.6 per cent in August, up by 0.3 percentage points from July. It is lower than the 4.9 per cent recorded in September 2009.The resident unemployment rate - of citizens and permanent residents - rose to 4.5 per cent in August from 4.

Speaking to reporters on a visit to Samwoh Group on Wednesday, she added: “But nonetheless we're keeping a very close watch.” “We also saw the ability to pull together more opportunities. And the vast majority of these opportunities that have been pulled together remain, still, in terms of jobs. And of the 60,000 or so long-term jobs available, a large part of it is still coming from the private sector.”

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