The Republic’s unemployment rate inched up in the second quarter of 2015, after trending downwards for the past four quarters, preliminary figures released by the Manpower Ministry (MOM) show on Thursday.
The unemployment rate rose to 2% in June, from 1.8% in March, due to "softer economic conditions", MOM says. Among residents, unemployment rose from 2.5% to 2.8%, and for citizens, it rose from 2.6% to 2.9%. The figures are similar to the unemployment situation a year ago.
Total employment grew by 15,700, following a contraction of 6,100 in the last quarter, boosted by hiring in the construction and services industries. However, overall employment growth for the first half of 2015 has slowed compared to a year ago, MOM says.
The number of employed people in June 2015 was 3,633,500. This was 2.4% higher than a year ago, but lower compared to a 2.7% increase in March 2015.
Layoffs fell for the second straight quarter, with 3,100 workers laid off compared with 3,500 in the previous quarter, the ministry said. The bulk of the layoffs were from the services sector, which let go of 2,000 workers.
The economy grew 1.7% y-o-y in 2Q, lower than the 2.8% growth in the previous quarter. On a q-on-q, seasonally adjusted annualised basis, the economy contracted by 4.6%.
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The unemployment rate rose to 2% in June, from 1.8% in March, due to "softer economic conditions", MOM says. Among residents, unemployment rose from 2.5% to 2.8%, and for citizens, it rose from 2.6% to 2.9%. The figures are similar to the unemployment situation a year ago.
Total employment grew by 15,700, following a contraction of 6,100 in the last quarter, boosted by hiring in the construction and services industries. However, overall employment growth for the first half of 2015 has slowed compared to a year ago, MOM says.
The number of employed people in June 2015 was 3,633,500. This was 2.4% higher than a year ago, but lower compared to a 2.7% increase in March 2015.
Layoffs fell for the second straight quarter, with 3,100 workers laid off compared with 3,500 in the previous quarter, the ministry said. The bulk of the layoffs were from the services sector, which let go of 2,000 workers.
The economy grew 1.7% y-o-y in 2Q, lower than the 2.8% growth in the previous quarter. On a q-on-q, seasonally adjusted annualised basis, the economy contracted by 4.6%.
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