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Singapore unemployment rate in Q4 to hit 2%: Moody's

Singapore Business Review logo Singapore Business Review 19/1/2018 Staff Reporter
Singapore unemployment rate in Q4 to hit 2%: Moody's © Provided by Singapore Business Review Singapore unemployment rate in Q4 to hit 2%: Moody's

The manufacturing sector shed jobs despite the upturn in exports.

Moody's Analytics expects Singapore's unemployment rate to have edged down to 2% as economic activity remained solid in the last part of 2017.

Previously, Singapore's seasonally adjusted unemployment rate edged lower to a one-year low of 2.1% in the third quarter.

Staffing levels in the services sector increased in the first three quarters of 2017.

However, manufacturing shed jobs despite the upturn in exports. The construction job market also remained weak.

Singapore will release employment figures for the fourth quarter of 2017 on 26 January.

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