Singapore's jobless rate jumps in Q2, nearing financial crisis peak

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Singapore's jobless rate jumps in Q2, nearing financial crisis peak
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Singapore's jobless rate rose sharply in Q2 to a new decade-high of 2.9%, provisional data showed. YahooFinance

SINGAPORE, July 29 - Singapore's jobless rate rose sharply in the second quarter to a new decade-high of 2.9%, provisional data showed on Wednesday, as the COVID-19 pandemic saw employment shrink in the services and construction sector.

Retrenchments were much higher between April and June at 6,700, compared to 3,220 in the previous quarter.

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