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Singapore’s unemployment rate rose sharply this quarter to a new decade-long high of 2.9%, as Wednesday showed provisional knowledge, as the Covid-19 pandemic led to a contraction in employment in the structures sector and.
The overall unemployment rate rose from 2.4% in the first quarter, peaking at 3.4% reached in the 2009 global currency crisis.
The number of discounts for staff between April and June was well above 6,700, compared to 3,220 in the last quarter.
“Labour market weakness is likely to persist with continued weakness in recruitment and pressure on corporations for their workforce,” the Ministry of Labour said.
Singapore has reported more than 50,000 cases of Covid-19, the vast majority in immigrant dormitories, hitting a structure industry that relies on reasonable labor.
Visitors were banned, in large-scale layoffs in the tourism sector and a closure in the city-state for much of the time in retail and catering.
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