Labour Market Report for Q2 2020

The Labour Market Report for the second quarter of the year 2020 is out.

We translated the figures into infographics and let it sink in for you.

Unemployment Rate (%) for Singapore Citizens

Source: mom.gov.sg

Unemployment rate(%), seasonally adjusted, increased from 3.3% in Q1 2020 to 3.8% in Q2 2020.

Quarter Unemployment Rate, Citizen
Q2 2019 3.10
Q3 2019 3.20
Q4 2019 3.20
Q1 2020 3.30
Q2 2020 3.80

Shorter Work-Week/ Temporary Layoff

Source: mom.gov.sg

As companies look for ways to cut down on their costs, employees are being placed on a shorter workweek or temporary layoff. We see the figure jumping drastically from 4,190 in Q1 2020 to 81,720 in Q2 2020. That is a 19.5-time increment.

Job Vacancy

Jobs are scared in the current climate too. The current job vacancies to unemployed person ratio is at 0.57. This means that we have roughly 2 unemployed people fighting for 1 job position.

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