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Unemployment rate in November slid to 3.3%


Singapore’s overall unemployment rate fell to 3.3% in November, from 3.6% the month prior, according to figures published by the Ministry of Manpower on 8 January.
The drop was noted as the first in 2020, possibly punctuating the worst for the labour market amidst the COVID-19 pandemic.
The unemployment rate of Singaporean citizens and permanent residents decreased from 4.8% to 4.6%. In November, 109,500 residents were unemployed.
Meanwhile, the citizen unemployment rate decreased from 4.9% to 4.7%. In November, 94,000 citizens were unemployed.
Singapore’s tradition of gifting new bank notes during the Lunar New Year celebrations generates the same level of emissions as charging 5.7 million smart-phones for five days. The city state’s central bank is hoping to push this practice online.
Landed property homeowners can borrow up to $30,000. OCBC has launched Singapore’s first consumer loan for the installation of residential solar panels, the bank said in a press release. The loan facility provides landed property homeowners with a term financing option for the installation of solar panels.
It is priced 181 bp above the prevailing rate as of 7 January. UOB has announced the successful pricing of capital securities with a coupon rate that references the Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS), a statement read. The reset coupon rate of the perpetual, non-call five-year additional Tier 1 (AT1) securities on the first call date will reference the five-year SORA-OIS rate. Priced at a coupon of 2.25% per…
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