In Singapore, the unemployment rate falls close to pre-COVID level

Singapore’s Ministry of Manpower said the labor shortage in Singapore is easing after a steady decline in the unemployment rate.

According to the statements, the unemployment rate in Singapore is quite good. The unemployment rate has almost fallen to the level before the COVID 19 epidemic.

In addition, the long-term unemployment rate, i.e., the rate of those who have been unemployed for more than six months, has fallen to about 0.8%, compared with an unemployment rate of about 0.7% in the period before COVID-19.

Meanwhile, Singapore’s overall employment rate has continued to rise, increasing by 42,000 jobs in the first quarter of 2022, with about 85% of the increase coming from non-permanent residents. Border controls have been relaxed and employers have hired more migrant workers.

The continued relaxation of border controls will result in more foreign workers returning to Singapore. This will help alleviate labor problems in some sectors, especially in the construction sector.

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