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Singapore – Ministry responds to slowing employment figures

31 July 2015

It was reported yesterday that the seasonally adjusted unemployment rate edged up from 1.8% in March to 2.0% in June. Among residents, unemployment rose to 2.8% while for citizens, unemployment rose to 2.9%, similar to the situation a year ago.

Overall employment grew by 15,700 in the second quarter, supported by increases in construction and services. However, taken as a whole, employment growth in the first half of this year has moderated compared to a year ago.

Manpower Minster Lim Swee Say has taken to Facebook to comment on the statistics .On the growth in unemployment rate for citizens, the Minister wrote: “We must make sure that this is not due to a growing mismatch between the skills and expectations of the job seekers versus the skills requirements and job offerings from the employers.”

He explained how the Ministry is working to correct this potential mismatch, saying, “I am not taking any chances on this. Together with our partners in the unions, business industries and government agencies, my colleagues at MOM and WDA (Singapore Workforce Development Agency) and I are pushing hard and running fast on SkillsFuture (a scheme to provide Singaporeans with enhance training and skills) to minimise this potential mismatch as we create better career opportunities for Singaporeans at all levels.”

“Our employment situation is by no means perfect, but it is one of the best in the world. Our employment rate is one of the highest globally while our unemployment rate is one of the lowest. We must strive to keep it this way for as long as we can,” wrote Lim in the post.