Singapore — According to statistics by the Ministry of Manpower (MOM) on Monday (Sep 5), the unemployment rate among Singapore residents rose to 3.7 per cent in Jul, up from 3.5 per cent the month before.
The MOM said that out of the 87,300 residents who were unemployed in Jul, 77,200 or about 88 per cent were citizens.
While the MOM explained that this was the first time the rate rose in 10 months, it explained that the rise was likely due to the return of stricter safe management measures to curb the spread of Covid-19 during Phase 2 (Heightened Alert), which was imposed from May 16 to Jun 13 this year.
Dining in was not allowed during this time and gatherings were limited to two people. The overall unemployment rate went up to 2.8 per cent, up from 2.7 per cent in Jun.
Last Oct, then Manpower Minister Josephine Teo said that the rate of unemployment for Singapore’s citizens and permanent residents (PRs) accelerated faster in Aug 2020 than in July 2020. She also warned that it may follow that the unemployment rate will grow even more swiftly in the months to come.
She said, “We cannot tell at this point in time whether, in the coming months, the unemployment rate will (rise) at a faster rate or will it stay about the same, but nonetheless, we are keeping a very close watch.”
Overall, the country’s total unemployment rate (including foreigners) was at 3.4 per cent in Aug 2020, showing an increase from its rate of three per cent in Jul 2020.
More details will be released in the Labour Market Report for Q2, on Sept 15, said the MOM. /TISG