Slight increase in long-term unemployment rate from 2012
SINGAPORE — More are remaining unemployed longer — at least 25 weeks — compared to a year ago, in particular those with post-secondary qualifications.
SINGAPORE — More are remaining unemployed longer — at least 25 weeks — compared to a year ago, in particular those with post-secondary qualifications.
According to the Manpower Ministry’s labour market report for the third quarter released yesterday, the long-term unemployment rate as of September was 0.6 per cent — 12,500 residents — up from 0.4 per cent a year ago. However, this is still below the last recessionary high of 0.9 per cent in September 2009. Residents refer to Singapore citizens and permanent residents.
The increase is “possibly due to the rise in unemployment in the first half of the year, driven mainly by the tertiary-educated, who typically take longer to search for jobs that meet their skills, qualifications and salary expectations”, said the ministry in the report.
For degree holders, the long-term unemployment rate was 0.8 per cent in September compared to 0.4 per cent a year ago.
For those holding diplomas and professional qualifications, the rate was 0.6 per cent, up from 0.4 per cent a year ago. In contrast, the figure fell for those with secondary qualifications, from 0.5 per cent to 0.4 per cent.
Residents aged below 40 saw long-term unemployment increase from 0.4 per cent in September last year to 0.6 per cent this year, while those 40 and above saw a slightly smaller increase, from 0.5 per cent to 0.6 per cent.
For the third quarter, overall unemployment rate remained low at 1.8 per cent, down from 2.1 per cent in the previous quarter. This reflects the tight labour market, said the ministry. The unemployment rate for residents decreased from 2.9 per cent to 2.6 per cent and 3.1 per cent to 2.8 per cent for Singapore citizens.
Total employment rose by 33,100 in the third quarter, slightly below the gains of 33,700 in the previous quarter, but higher than the 26,200 a year ago. As of September, total employment stands at 3,453,300, up 4.2 per cent from a year ago.
The number of job openings rose over the quarter by 5.9 per cent, after declining 5.1 per cent in the previous quarter. There were fewer vacancies (24,300) in September for professionals, managers, executives and technicians (PMETs), than for non-PMETs (37,600).
The number of lay-offs fell in the third quarter to 2,710 from 3,080 in the preceding quarter and 2,850 a year ago. Nearly two-thirds (64 per cent) of residents laid off were PMETS.