Manpower Minister Lim Swee Say has said that we will experience a rise in unemployment rate. In his May Day message, he said some sectors are still struggling with structural changes and would need more time to get through this stressful period.
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Although the unemployment rate for Singaporean workers rose to 3% last year, Mr Lim told people not to worry as he is sure the economy is still growing.
He said while there is no shortcut to success, he is convinced that we will emerge stronger from this as long as employers and workers are faster in coping with challenges and adjusting to new environments.