SINGAPORE: Singapore’s unemployment rate in November fell for the first time in 2020, a sign that the worst could be over for the labour market amid the COVID-19 pandemic.
The overall unemployment rate in November was 3.3 per cent, dropping from 3.6 per cent in October.
AdvertisementAdvertisementThe resident jobless rate – among Singaporeans and permanent residents - inched down from 4.8 per cent in October to 4.6 per cent in November.
As for the citizen unemployment rate, it fell from 4.9 per cent in October to 4.7 per cent in November.
[h=3]READ: Singapore economy shrinks a record 5.8% in a pandemic-hit 2020[/h][h=3]READ: Middle-aged workers harder hit by COVID-19 downturn, economists suggest tracking 'vulnerable' group closely[/h] AdvertisementAdvertisementSingapore’s unemployment rate had been steadily rising since the first quarter of 2018 when the overall unemployment rate was at 2.0 per cent, before COVID-19 compounded the situation.
The overall unemployment rate in the last quarter of 2019 was 2.3 per cent before peaking at 3.6 per cent in September and October.
Economists previously said that the labour market will bottom out by end-2020 and flatline until the middle of this year.
Let's block ads! (Why?)
More...