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Singapore's jobless rate jumps in Q2, nearing financial crisis peak

The overall unemployment rate climbed from 2.4% in the first quarter, moving within sight of a 3.4% peak hit during the global financial crisis of 2009

Singapore
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Singapore has reported over 50,000 Covid-19 cases, the vast majority in migrant worker dormitories which has hammered a construction industry reliant on cheap labour.

Reuters Singapore
Singapore's jobless rate rose sharply in the second quarter to a new decade-high of 2.9%, provisional data showed on Wednesday, as the Covid-19 pandemic saw employment shrink in the services and construction sector.
The overall unemployment rate climbed from 2.4% in the first quarter, moving within sight of a 3.4% peak hit during the global financial crisis of 2009.

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Retrenchments were much higher between April and June at 6,700, compared to 3,220 in the previous quarter.
"Softness in the labour market is likely

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First Published: Jul 29 2020 | 11:39 AM IST

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