Singapore’s labour market slowed in the first quarter of 2016, according to a report released on Monday by the Ministry of Manpower (MOM).
“Amid softer economic conditions and as the economy restructures, redundancies are expected to rise in sectors affected by weak external demand,” MOM said.
Here are 4 highlights in the 1Q16 Labour Market report by MOM’s Manpower Research and Statistics Department:
1) Long-term unemployment rate increased
Long-term unemployment rate has increased to 0.7% from 0.5%, even as seasonally adjusted overall unemployment rate remained low and unchanged at 1.9% in March 2016.
Unemployment among residents declined to 2.7% from 2.9%, while unemployment among citizens dipped to 2.6% from 3.0%.
2) Total employment growth lower
Total employment grew by 13,000 in the first quarter of 2016, lower than the seasonal high growth of 16,100 in 4Q15.
Total employment growth in 1Q16 was “significantly …