Breaking: MOM releases third quarter layoff figures

The number of layoffs in the third quarter of 2015 has increased to 3,460, according to the latest figures from the Ministry of Manpower (MOM).
 
This is higher than the 3,250 people laid off in the second quarter of 2015 but on a similar level to the 3,500 people laid off in the third quarter of 2014.
 
These figures come from MOM’s Labour Market Report for the Third Quarter released today (15 December).
 
The Ministry also revealed that although job openings continued to outnumber job seekers, this ratio has gradually decreased. In September 2015, there were 116 openings per 100 job seekers while in June 2015 there were 121.
 
The amount of seasonally adjusted vacancies also declined 11 per cent to 55,600 in the third quarter of this year.
 
Finally, the overall unemployment rate in September 2015 stayed low at two per cent.
 
Total employment increased by 12,600 in the third quarter of 2015, lower in comparison to the increase of 33,400 that occurred during the same time last year.