Number of Unemployed are Rising in SG

Singapore’s labor market changes and becomes more complex, its labor resources then continue to moves up – a clear indication of unemployment rate grows faster than before. Unemployment is a condition wherein people living at a specific area were actively seeking for a job, some of whom tried to handpick jobs suited for them.

Rising Number of Unemployed

Singapore’s latest unemployment rate reached 2.1% in June 2013 date back in March 2013 it was 1.9% and 1.8% date back in December last year. The labor market landscape then became weaker given by the above figures. The second quarter of 2013 crawls down which turns to grim reality of labor market wherein most business sectors in Singapore layoffs employees, some industry players are in the midst of consolidating and restricting businesses.

Increased Job Opportunities

The Ministry of Manpower’s Labour Market confirmed that the government has generated about 28,900 jobs from January-March, eventually rises to 33, 700 from the period of April to June and about 31, 700 from last year. Singapore caters an aggregate count of 3,420,200 unemployed in June 2013, from a 4 per cent higher than in June 2012. Singapore’s unemployment status remained unchanged at 2.1% rate in the third quarter (July-September) this year from 2.1% in the second quarter.

Still Lower Than Average

Historically, though, as reported by the Ministry of Manpower covers Singapore unemployment rate averaged 2.51% from 1986. to date recently in 2013. Earlier in March of 1986, Singapore has reached its all time high of 6% unemployment rate which is undeniable throughout its history while in June of 1990; Singapore got a lowest mark of 1.40% unemployment rate. In fact, any individual who are actively seeking for a job belongs to unemployment percentage rate as shown above.

Matching Jobs with Skills

According to David Ang, associate director at Renumeation Data Specialists says expertise leads to find job easier. Mr. Ang recommended that if any unemployed individual finds a vacancy, they should take it quickly and just wait for better opportunities once they are already employed. Job matching is the key solution for unemployment problem.