ANN: Unemployment rises in Singapore as employers grow cautious

However, retrenchments dipped, according to preliminary data released by the Ministry of Manpower today (July 26).
The unemployment rate for Singaporeans rose for the third consecutive quarter to 3.3 per cent in June, up from 3.2 per cent in March, after seasonal variations were taken into account.
The rate for Singaporeans and permanent residents combined rose to 3.1 per cent, up from 3 per cent, while the overall unemployment rate was unchanged at 2.2 per cent.
Layoffs fell to 2,300 in the three months from April to June, down from 3,230 in the second quarter and 3,030 in the same period last year.
The ministry said the figures "suggest that most employers are not laying off existing workers, but exercising greater caution in hiring even when they have unfilled vacancies", leading to data showing 
employment growth slowed in the second quarter. Total employment, excluding maids, grew by 4,000, lower than the growth of 10,700 in the preceding quarter and 6,500 in the second quarter of last year.
The gains last quarter were mainly in sectors such as information and communications, professional services, financial services and community, social and personal services. But these were offset by the decline in employment in retail trade.
Construction continued to add workers as a result of more activities in the public sector. Employment growth in the sector turned positive for the sector this year, after 11 consecutive quarters of contraction.
But manufacturing continued to shed workers for the third consecutive quarter as output declined.