{"id":113053,"date":"2019-12-13T11:55:19","date_gmt":"2019-12-13T04:55:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/q3-unemployment-rate-increased-to-2-2-despite-growth-in-total-employment\/"},"modified":"2019-12-13T12:03:58","modified_gmt":"2019-12-13T05:03:58","slug":"q3-unemployment-rate-increased-to-2-2-despite-growth-in-total-employment","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/q3-unemployment-rate-increased-to-2-2-despite-growth-in-total-employment\/","title":{"rendered":"Q3 unemployment rate increased to 2.2%, despite growth in total employment"},"content":{"rendered":"


\nTotal employment growth in Q3 2019 tripled from Q2 2019, even as overall unemployment rate crept up.\u00a0\u00a0
\nEmployment rate in Q3 2019 has increased by three times compared to the previous quarter, even as total unemployment rate crept up, reported CNA.
\nData from the Ministry of Manpower (MOM) showed that the seasonally-adjusted unemployment rate increased from 2.2% in Q2 2019 to 2.3% in Q3 2019.
\nThe unemployment rate for Singapore citizens climbed from 3.2% in Q2 to 3.3% in Q3, while the unemployment for residents rose from 3.1% to 3.2%.
\nHowever, total employment (excluding foreign domestic workers) for Q3 grew by 21,700, or more than triple than the 6,200 increase posted in the previous quarter. It is also significantly higher compared to the 16,700 growth over the same period last year.
\nThe services sector saw the highest employment growth, led by modern services, community, social and personal services as well as administrative and support services.\u00a0
\nMOM: Employers are more cautious in hiring
\nHowever, the number of job vacancies in Q3 2019 declined to 42,200 compared to 47,700 in Q2 2019.\u00a0\u00a0
\nDespite this, MOM noted that job opportunities remain available, especially for professionals, managers, executives and technicians (PMETs) within the services sector.
\nREAD:\u00a0Presenting The Singapore Property Market Outlook 2020
\nManpower Minister Josephine Teo said the growth in employment indicates \u201csome resilience\u201d in the labour market.
\nShe also said that the growth in the unemployment rate is because employers are being more cautious in hiring. She also said that the time it takes for jobseekers to secure a role also contributes to the rise in unemployment.\u00a0
\nRetrenchment on the rise, but still lower than last year\u2019s figures
\nMeanwhile, retrenchment also increased from 2,320 in Q2 to 2,430 in Q3. However, this figure was still lower compared to last year\u2019s 2,860.
\nBusiness restructuring and reorganisation emerged as the top reason for retrenchments during the period under review, said MOM.
\nCommenting on the labour outlook, Teo said she \u201cwould still be quite cautious\u201d since the number of job vacancies indicates that \u201cconfidence is still not quite so strong\u201d.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Q3 unemployment rate increased to 2.2%, despite growth in total employment<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Total employment growth in Q3 2019 tripled from Q2 2019, even as overall unemployment rate...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-113053","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tpr","jetpack-related-posts":[{"id":122757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-1-1-in-q3\/","url_meta":{"origin":113053,"position":0},"title":"Private home prices up 1.1% in Q3","date":"October 22, 2021","format":false,"excerpt":"\r Quarter-on-quarter, private home prices\u00a0went up by\u00a01.1% and resale transactions increased to 5,362 units from 5,333 units. 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