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Unemployment continues downward trend

Singapore Business Review logo Singapore Business Review 8/4/2021 Staff Reporter
a group of people walking on a city street © Provided by Singapore Business Review

Unemployment in Singapore has continued its decline for the fourth straight month.

The latest data from the Ministry of Manpower has shown that unemployment fell to 3.0% in February, down from 3.2% in the previous month.

"Although the unemployment rates remain elevated and have not yet returned to pre-COVID levels, we are seeing good progress with jobs growth," said Manpower Minister Josephine Teo on Facebook.

Unemployment for residents fell to 4.1% from 4.3%, while unemployment for citizens fell to 4.3% in February, from 4.5% in January.

This translated to 96,800 residents, 85,000 of which were citizens, without work.

"A word of caution - with every dip in the unemployment rate, the next drop will likely be harder to achieve. It depends on whether hiring demand is sustained among employers, and their willingness to look beyond candidates with familiar profiles," Teo said.

She added that jobseekers may also need to consider new job roles and re-skill in order to find employment.

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