Unemployment Declines As Job Creation Strengthens
Employment Situation, Second Quarter 2012
31 July 2012
- Employment creation strengthened in the second quarter of 2012, while layoffs eased for the second successive quarter. Consequently, unemployment improved, reversing the slight increase a quarter ago. These are the key findings from the "Employment Situation, Second Quarter 2012" report released by the Ministry of Manpower’s Research and Statistics Department.
- Total employment is estimated to have grown by 29,200 in the second quarter of 2012, up from the increase of 24,800 in the same period last year and 27,200 in the first quarter of 2012. Construction and manufacturing registered strong employment increases of 9,500 and 4,500 respectively, up from recent quarters. On the other hand, growth in services employment eased to 15,500.
- Layoffs declined for the second successive quarter. An estimated 2,300 workers were made redundant in the second quarter of 2012.1 This was lower than the 2,600 workers affected in the preceding quarter and 3,250 in the fourth quarter of 2011. The majority or 1,500 of the workers laid off during the quarter were from services, while manufacturing and construction displaced 600 and 200 workers respectively.
- Amid the stronger employment creation, unemployment declined in June 2012, after the slight rise a quarter ago. The seasonally adjusted overall unemployment rate dipped over the quarter by 0.1%-point to 2.0% in June. The rate for residents declined by 0.2%-point to 2.8%, while that for citizens fell by 0.3%-point to 2.9%.
For More Information
- The "Employment Situation, Second Quarter 2012" report is available on MOM's Statistics and Publications webpage. More comprehensive labour market data will be released in the "Labour Market Report, Second Quarter 2012" on 14 September 2012.
1 Data pertain to private establishments each with at least 25 employees and the public sector.