According to the latest employment statistics by the Ministry of Manpower (MOM), unemployment rate in Singapore is now at it’s 8-year-high. The first quarter of 2017 reported a 3.2% resident unemployment rate and the second quarter at 3,1%, with the exact similar unemployment figures reporting in 2010. For Singaporeans, unemployment rate is higher at 3.3%.
MOM also added that the total employment figure has also fallen by 8,400, and the ministry blame low oil prices and the weakening construction industry:
“Total employment declined by 8,400, compared to a decrease of 9,400 in the first quarter. The fall in the second quarter was mainly due to a decrease in work permit holders in construction and marine, a result of low oil prices and continued weakness in the construction sector. Employment continued to grow for the services sector.”
MOM also said that the unemployment situation might worsen, with an “uneven outlook” across all sectors.
Manpower Minister Lim Swee Say did not comment on the worsening employment figures. There has been no strategies adopted by the government to address the unemployment issue, with the Parliament placing the Oxley Road saga and Workers’ Party Town Council’s persecution as priority. Other important infrastructural development like persistent train breakdowns, inflating cost of living and corruption-linked fatal construction projects have also taken a back seat, under Prime Minister Lee Hsien Loong’s order.