Business News
Singapore's jobless rate falls to lowest level in two years
Jun 15, 2010, 4:22 GMT
Singapore - Singapore companies hired more workers than expected in the first quarter 2010, pushing the jobless rate to its lowest level in nearly two years, the government said Tuesday.
Seasonally adjusted unemployment declined to 2.2 per cent in March, down from 2.3 per cent in December, driven by a robust rebound from the economic downturn, the Ministry of Manpower said.
Total employment rose by 36,500 jobs in the first quarter 2010, compared with an earlier estimate of 34,000, the ministry said.
Redundancies remained at around pre-recession quarterly levels, with 2,400 workers being laid off in the first quarter, it said.
In the first three months of 2009, a record number of 12,760 workers had been retrenched.
Singapore's labour market has been spurred by the opening of two casino resorts this year, creating thousands of jobs.
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