SINGAPORE, March 16 (Xinhua) -- Singapore's seasonally-adjusted overall unemployment rate continued moderating in January to 3.2 percent from last December's 3.3 percent, according to the Labour Market Report 2020 released by the Ministry of Manpower on Tuesday.
Meanwhile, the seasonally-adjusted resident unemployment rate fell to 4.3 percent in January from the previous month's 4.4 percent, and the citizen unemployment rate stood at 4.5 percent unchanged.
The ministry said that Singapore achieved a broad improvement in the labour market in the fourth quarter of 2020, with the unemployment rates started to moderate in November 2020.
Data in the report shows that the seasonally-adjusted overall unemployment rate was 3.5 percent in both September and October 2020, which fell to 3.4 percent in November and further to 3.3 percent in December. Meanwhile, the resident unemployment rate fell from 4.8 percent to 4.6 percent and further to 4.4 percent, and the citizen unemployment rate fell from 4.9 percent to 4.7 percent and further to 4.5 percent.
According to the report, Singapore's retrenchments declined for the first time in the fourth quarter of 2020 to 5,640, after five consecutive quarters of increases. The ministry added that there were fewer retrenchments in most industries except for the air transport and supporting services, which was still affected by global travel restrictions. Enditem