The latest unemployment numbers released by the Ministry of Manpower show a slight uptick in the unemployment rate to 4.5% for August.
This rate was slightly higher than July’s 4.1%, but was still much lower than during the SARS period, when unemployment hit a high of 6.3% in September 2003.
During the Global Financial Crisis back in 2009, this rate went to 4.9% at its highest point.
The government has started posting monthly unemployment numbers since the pandemic began.
It’s understandable to feel worried about whether this rate will continue to head up, but it’s tough to foretell at this point in time.
The government has pledged to help companies to retain jobs in key industries that were badly impacted by the coronavirus through the Jobs Support Scheme.
The Monetary Authority of Singapore and financial industry have also introduced a slew of measures to assist borrowers to manage their loans better.
These involve debt moratoriums where payments can be deferred to 2021 rather than by the end of this year.
For individuals who are unable to sustain their mortgage loan repayments, they may apply to their bank or finance company to make reduced instalment payments at up to 60% of their instalment amount for a period of nine months.
These measures should further cushion the adverse impact from the pandemic and allow businesses and individuals to have more breathing room.
With that, here’s a look at our top articles for this week.
Over the next decade, Asia’s rise will continue to spur many companies to grow both their profits and dividends. Here’s a look at how all this will pan out.
If you’ve always thought that the West was best, think again. Asian firms are beating western firms in these three key areas.
If you’re strapped for cash, don’t fret. Even with just S$1,000, we explain how you can build a REITs portfolio.
These three blue-chip companies offer a good mix of both growth and dividends, and their shares provide a yield than exceeds your CPF Ordinary Account.
Looking for strong growth companies? These 4 stocks could provide the fuel to supercharge your portfolio results.
All looks bleak for the hospitality industry right now. Is there a sliver of hope that may allow hotel stocks to witness a share price rebound?
Hongkong Land Limited (SGX: H78) is trading close to its year-low. Are there any catalysts that can propel its share price upwards?
Keppel Corporation Limited (SGX: BN4) has announced a strategic review of its offshore and marine division. Will this help to unlock value for investors?
With the number of IPOs drying up for Singapore Exchange Limited (SGX: S68), can the local bourse still manage to grow its business?
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Please refer to the individual articles for stock ownership disclosures.