Singapore's unemployment rates improve further in May

SINGAPORE'S unemployment rates fell further in May, at the overall level as well as for residents and citizens, according to a Manpower Ministry (MOM) release on Thursday.

Overall unemployment inched down to 2.8 per cent, after having stalled at 2.9 per cent in April.

Resident unemployment was 3.8 per cent, down from 3.9 per cent, while citizen unemployment fell to 4.0 per cent, from 4.1 per cent previously.

All three rates have been declining since September's peak.

There were 88,600 residents unemployed in May 2021, including 79,000 citizens. This is down from 92,100 unemployed residents, including 82,800 citizens, in April.

Noting the continued downward trend, Manpower Minister Tan See Leng said in a Facebook post that this was "a good sign that our labour market is steadily improving".

But he added: "However, we remain cautiously optimistic about the situation as we continue to see resurgence of the virus globally and have also yet to see the full impact of Phase 2 (Heightened Alert) restrictions, which began in mid-May."

"The road to recovery may be a long one," he said, urging businesses to tap available support such as the Jobs Growth Incentive and schemes to innovate and transform.

"At the same time, I want to encourage our jobseekers, who have continuously shown resilience and willingness to try out new roles and sectors during this difficult time," he added, noting that they can seek assistance from Workforce Singapore and the National Trades Union Congress's Employment & Employability Institute, e2i, with 24 SGUnited Jobs and Skills Centres across the country.

READ MORE: Singapore unemployment situation keeps improving in April for citizens, residents