Singapore’s resident unemployment rate up in August

The MOM noted that the Monetary Authority of Singapore has estimated that the combined budgets Singapore rolled out this year – amounting to S$100bil – will prevent its economy from contracting by a further 5.6% of GDP in 2020, and 4.8% in 2021.

SINGAPORE: The resident unemployment rate rose by 0.4 percentage points in the month of August to 4.5%, said a Ministry of Manpower (MOM) report yesterday.

This was slightly higher than the increase of 0.3 percentage points in July, when the resident unemployment rate was 4.1%.