The cuts exceeded original estimates, rising to 11,350 in the first half of 2020, the Ministry of Labor (MOM) said in its latest labor market report.
According to preliminary estimates, which were forecast on July 29, there would be 9,920 layoffs in the first half of the year.
The 11,350 cuts in the first half of 2020 now exceed the cuts experienced during the Severe Acute Respiratory Syndrome (Sars) outbreak. During Sars there were 10,120 cuts in the first half of 2003.
This year's number has not yet exceeded that of the global financial crisis of 2008 with 12,760 layoffs.
Despite the cuts, the June resident unemployment rate was 3.8 percent lower than expected, compared with 3.9 percent in advanced estimates.
Total employment also fell by 103,500 between April and June, compared to initial estimates of 121,800. Overall, employment fell by 129,100 in the first half of 2020.
This is the largest reduction recorded since the beginning of the year.
S’pore sees more vacancies
There are also fewer vacancies in June, which is 42,400, up from 46,300 in March.
The number of unemployed in Singapore exceeds the number of vacancies by a ratio of 0.57.
However, job vacancies have increased in sectors such as financial services, wholesale, food and beverage services, administrative and support services, and public administration and education.
In July, overall unemployment rose from 2.4 percent in the previous quarter to 2.9 percent. This was the highest unemployment rate in more than a decade.
On August 17, Deputy Prime Minister Heng Swee Keat announced an S $ 1 billion job growth incentive as part of measures to strengthen Singapore's economy.
According to Minister Heng, the Singapore labor market "is likely to remain weak beyond 2020" and a post-Covid-19 world "will not function as usual".
Selected image source: HRM Asia