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Tuesday, according to the latest report from Ministry of Manpower, Singapore's jobless rate stood at a seasonally adjusted 3.3% in second quarter, unchanged from the prior quarter. This was the highest rate in four years.
With unemployment rising for five quarters before stabilizing in June 2009, long-term unemployment has worsened. The resident long-term jobless rate rose to 1.3% in the second quarter from 0.5% recorded during the same period of last year.
Further, the ministry said that 5,980 workers were made redundant in the second quarter, of whom 5,170 were retrenched and 810 were released prematurely from their contracts.
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