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Economy

Singapore and Japan jobless rates show coronavirus pain setting in

Over 7% of Asia-Pacific working hours to be wiped out in second quarter

SINGAPORE -- Asian unemployment statistics have begun to show the damage from the coronavirus pandemic, with forecasters expecting job losses in some countries to exceed global financial crisis levels in the months ahead.

On Wednesday, Singapore announced that the unemployment rate rose to 2.4% in March, up from 2.3% in December and the highest reading since September 2009. The city-state followed Japan, which on Tuesday said its jobless rate rose 0.1 of a point to 2.5% in March, the highest level in 12 months.

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