Labour Market Report, First Quarter 2016

Main Findings

1. The seasonally adjusted overall unemployment rate remained low and unchanged at 1.9% in March 2016. Unemployment declined among residents (2.9% to 2.7%) and citizens (3.0% to 2.6%). However, long-term unemployment rate increased from 0.5% to 0.7%.
2. Total employment grew by 13,000 in the first quarter of 2016, lower than the seasonal high growth of 16,100 in the fourth quarter of 2015. Even though total employment growth in the first quarter of 2016 was a reversal from the decline of 6,100 in the same period last year, it was significantly lower than 2013 and 2014.
3. The number of workers made redundant in the first quarter of 2016 (4,710) was lower than the preceding quarter (5,370), but was the highest first quarter redundancies since 2009. 46% of residents made redundant in the fourth quarter of 2015 re-entered employment by March 2016, down from 50% in the previous quarter, and the lowest since June 2009 (43%).
4. Even though job openings continued to outnumber job seekers, the seasonally adjusted ratio has declined to 103 openings per 100 job seekers in March 2016, its lowest since June 2012 (98 openings per 100 job seekers).
   
   Conclusion
5. Amid softer economic conditions and as the economy restructures, redundancies are expected to rise in sectors affected by weak external demand. MOM will continue to work closely with tripartite partners to provide employment support and help displaced locals re-enter employment, including through the recently announced Adapt and Grow initiative.
   
   For More Information
6. These are the key findings from the “Labour Market, First Quarter 2016” report by the Manpower Research and Statistics Department, Ministry of Manpower. The report is available at http://stats.mom.gov.sg/Pages/Home.aspx.