Older workers made up bulk of unemployed residents in Q2

Over 40,000 older residents were unemployed.

Almost half of unemployed residents in the second quarter were workers older than 40, according to the Ministry of Manpower’s Labour Market report.

Those aged 40 and over made up 48% of unemployed residents in June. The unemployment rate for this age group inched up to 3.1%, compared to 2.9% in Q1.

“Given the rising competition in Singapore’s labour market, older employees looking to re-join the workforce may face the challenge of securing a job that matches their seniority, skill level and salary expectations,” said Michael Smith, Randstad Country Director – Singapore.

Close to 70% of long-term unemployed residents in June were also aged 40 & over, reflecting their larger representation in the resident labour force and higher long-term unemployment rate.

“[Older workers] can consider contract work. This not only provides them with better opportunities to get back into the workforce, but to secure a role with more flexible work options,” Smith said.