Singapore Job Cuts Signal More Pain as Unemployment Rises: Chart
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Singapore’s unemployment rate rose to its highest level in more than two years in the second quarter -- at 2.1 percent -- and signs are that it may worsen. Sembcorp Marine Ltd., the world’s second-biggest builder of oil rigs that’s based in the city state, joined larger rival Keppel Corp. on Thursday to warn of possible job cuts after already cutting its workforce by 6,000 since 2014. Data on Thursday showed the unemployment rate for Singaporean citizens climbed to 3.1 percent from 2.6 percent, the biggest increase since 2009.