Singapore unemployment hits 2.9% as COVID slams workers Asiawide

City-state's retrenchments more than double in second quarter

20200729 singapore jobs

Singapore is one of many Asian economies suffering from rising unemployment rates. © Reuters

KENTARO IWAMOTO, Nikkei staff writer

SINGAPORE -- Unemployment in Singapore rose to 2.9% in June, according to preliminary quarterly data released on Wednesday, approaching the level seen during the global financial crisis days in 2009 and reflecting the impact of COVID-19 across the region.

Jobless rates in many Asian economies are expected to remain high in the coming months, as businesses struggle in the pandemic.

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