Number of laid off workers jumped to 3,500 in Q3

From just 2,410 in Q2.

The number of laid off workers jumped by over 1,000 in the third quarter. According to data released today by the Department of Statistics, 3,500 workers were laid off in Q3 as opposed to just 2,410 in Q2.

This is also higher compared to the 2,710 workers laid off in the third quarter last year. However, the Ministry of Manpower notes that the rate of re-entry into employment within six months of redundancy improved for the second consecutive quarter.

Based on CPF records, 55% of the residents made redundant in the second quarter of 2014 secured employment by September 2014, up from 53% experienced by the previous cohort in June.

Total employment grew by 33,400 in the third quarter of 2014, higher than the increase of 27,700 in the preceding quarter and largely unchanged from the 33,100 in the third quarter of 2013.

This brought total employment to 3,583,200 in September 2014, which was 3.8% higher than a year ago. This year-on-year rate of growth in total employment remained unchanged from a quarter ago.