147,500 S’porean Lost Job In 2020 So Far With 9,920 Retrenched
As the Covid-19 are still continuing on to wreck the current economy, the unemployment rate is still increasing, the Ministry of Manpower (MOM) showed that the retrenchment rate in Q2 went up by 108% compared to Q1 which, unfortunately, due to facing an invisible virus and locking down, many more people will lose their jobs during Circuit Breaker especially on sectors such as tourism and entertainment.
Here is some statistic from MOM:
Retrenched workers Q1: 3,220
Retrenched workers Q2: 6,700 (+108%)
Total unemployed Singaporeans in Q2: 79,600
Total unemployed Singaporeans + PRs in Q2: 90,500
Singapore residents’ unemployment rate in Q1 2020: 3.3%
Singapore residents’ unemployment rate in Q2 2020: 3.9%
Singapore citizens’ unemployment rate in Q1 2020: 3.5%
Singapore citizens’ unemployment rate in Q2 2020: 4%
The overall unemployment rate in Q1 2020: 2.4%
The overall unemployment rate in Q2 2020: 2.9%
Total retrenchments Q1 excluding foreign domestic workers: 25,600
Total retrenchments Q2 excluding foreign domestic workers: 121,800
Full data can be found here.
We hope that the contractions ease soon. In the meantime, the government is creating jobs, traineeships, and opportunities through the Jobs Support Scheme.
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