Singapore Q1 unemployment rate up to 2.4%; Q2 numbers to worsen as virus hits
Economist sees employment shrinking by 80,000-100,000 in Q2 as circuit breaker measures only began in April
Add BT as a preferred source
Singapore
SINGAPORE'S total employment for the first three months of 2020 registered its sharpest quarterly contraction in 17 years amid the novel coronavirus outbreak, and authorities warned the labour market in the months ahead could soften further.
Estimates released by the Ministry of Manpower (MOM) indicate that total employment, excluding foreign domestic workers, in the first quarter shrank by 19,000, compared with the 24,000 contraction seen in Q2 2003 during the peak of the severe acute respiratory syndrome (Sars) outbreak.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
