According to the latest figures from the Ministry of Manpower’s (MOM) monthly unemployment situation report released on Jul 1, the resident unemployment rate has declined to 3.8% in May, from 3.9% in April 2021.
The unemployment rate among Singapore citizens also dropped to 4% in May, from 4.1% previously, while the overall unemployment rate fell to 2.8%, from 2.9% in April.
This means that more people have found a job in May as compared to in April.
Singapore’s unemployment rates were at their highest in September last year and remained high until October. It was only in November when there was an improvement.
With the unemployment rates going down, it shows that the labour market is improving steadily, said Manpower Minister Tan See Leng.
Even though the road to recovery may be a long one, Minister Tan urges businesses to tap on available support like the Jobs Growth Incentive to hire more locals, and also existing schemes to innovate and transform their work processes.
He also encouraged job seekers who need help with their job search to reach out to Workforce Singapore (WSG) and the National Trades Union Congress’ Employment and Employability Institute (e2i) and assured that MOM and WSG will continue to work with the various economic agencies to create new jobs opportunities for the job seekers.
Although it is still too early to say anything now, but the declining unemployment rate is definitely a good sign that more people have found jobs.
No fish prawn also good mah, at least got income to tide through this period first.
Jiayou everyone, don’t give up!