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Employment Situation 2014: Slight rise in unemployment in Q1

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Unemployment in Singapore, while remaining low overall, rose slightly in the first quarter of 2014 while the number of layoffs declined after rising at the end of 2013.

These are the main findings from the Ministry of Manpower’s (MOM) Employment Situation, First Quarter 2014 report.

Seasonally adjusted employment rates rose in March 2014 from December 2013, according to preliminary estimates, to 2.1% from 1.8% overall. However, overall unemployment rates remain low.

Total employment grew by 24,900 in the same period, which is lower than the 40,600 reported in the previous quarter, and also lower than the 28,900 reported in the first quarter of 2013.  As at March 2014, there were 3,518,700 people employment in Singapore – a 3.9% increase from one year ago.

In terms of redundancies, layoffs declined in this latest quarter after rising in Q4 2013. In total, 2,900 employees were made redundant in the first quarter of this year – lower than the 3,660 workers affected in the preceding quarter, but higher than the 2,210 laid off in Q1 2013.

READ MORE: More layoffs in Singapore, but redundancy still low

For more information on income, labour force, labour turnover and more go to MOM’s Statistic and Publications page.

Image: Shutterstock

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