Unemployment remains low in the third quarter of this year despite an increase in the number of lay-offs from last quarter. Employment creation was also moderated.
According to the “Employment Situation, Third Quarter 2012” report released by the Ministry of Manpower, the low unemployment rate reflects strong manpower demand amid the tightening in foreign manpower controls.
Employment growth moderated in the third quarter of 2012, after increasing in the previous quarter. Preliminary estimates show that total employment grew by 24,900 in the third quarter of 2012, down from the increase of 31,900 in the same period last year and 31,700 in the second quarter of 2012.
The growth in employment slowed in services from 21,200 in the third quarter of 2011 to 11,300 in the third quarter of 2012 and manufacturing from 3,900 to 3,700.
Richard Farmer, director of human resource firm Randstad, said Singapore is in a fortunate position with its continued low unemployment rate.
“While economic activity has slowed, jobs are still being created – albeit at a slower pace than the previous quarter.
“Employers are remaining cautiously optimistic about the labour market here, with the view that Singapore is still in a much better position than many other developed economies,” he said…
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Singapore Q3 unemployment remains low
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http://news.asiaone.com/A1Business/General%2BNews/Story/A1Story20121031-380618.html
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