Singapore’s unemployment rate rises to 2.1 per cent in March

01-May-2012 Intellasia | Bernama | 7:05 AM Print This Post

Singapore’s seasonally adjusted overall unemployment rate increased slightly to 2.1 per cent in March 2012 from 2.0 per cent in December last year.

Total employment is estimated to have grown by 27,400 in the first quarter of 2012.

The increase was lower than the seasonal high of 37,600 in the fourth quarter and the 28,300 in the first quarter of 2011.

Although job creation moderated slightly in the first quarter of 2012, it remains fairly strong.

These are the key findings from the “Employment Situation, First Quarter 2012″ report, released by the Ministry of Manpower Research and Statistics Department, here today.

Similarly, it said the unemployment rate rose over the same period for residents from 2.9 per cent to 3.0 per cent and citizens from 3.0 per cent to 3.2 per cent.

The report said the bulk of employment gains in the first quarter of 2012 continued to come from services, which added 19,800 workers.

Construction continued to register a strong increase of 8,000.

It said manufacturing employment declined by 500. This was the second consecutive quarter of decline, but losses have eased from the 1,400 in the fourth quarter of 2011.

An estimated 2,700 workers were made redundant in the first quarter of 2012.

This was lower than the 3,250 workers affected in the preceding quarter, but close to the 2,750 laid off in the first quarter of 2011.

Manufacturing laid off fewer workers (800) in the first quarter of this year, after its large cutback in the preceding quarter (1,660).

This more than offset the increases in layoffs in services (from 1,360 to 1,600) and construction (from 240 to 300).

An estimated 59,100 residents, including 52,800 Singapore citizens were unemployed in March 2012. The seasonally adjusted figures were 64,000 for residents and 57,700 for citizens.


Category: Singapore

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