SINGAPORE (Jan 31): While the inching up of Singapore’s seasonally-adjusted unemployment rate by 0.2 percentage points to 2.3% in 2019 is “a concern”, Manpower Minister Josephine Teo believes there is not cause for alarm just yet.

For one, Teo notes that resident and citizen unemployment rates had hovered around 4-5% in the previous decade. “From that perspective,” Teo says, “the unemployment rates for 2019 are a concern but they are not alarming.”

According to preliminary figures released by the Ministry of Manpower (MOM) in its Labour Market Report on Thursday, Singapore’s annual average unemployment rate was higher than the 2.1% recorded in 2018.

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