Business News
Singapore's jobless rate reaches lowest level since March 2008
Oct 29, 2010, 5:35 GMT
Singapore - Singapore's employers expanded their payrolls in the third quarter, pushing the city-state's unemployment rate to its lowest level in two-and-a-half years, government data released Friday showed.
Singapore's jobless rate was 2.1 per cent during the July-to-September period, slightly lower than the previous quarter's 2.2 per cent, the Ministry of Manpower said in a statement.
On the back of strong economic expansion, total employment rose for the fifth consecutive quarter, with gains of 24,100 jobs in the three months through September, it said.
Total gains in the first nine months of 2010 came to 85,500 jobs, compared to an almost-flat growth of just 100 jobs in the same period last year due to the global downturn, the ministry said.
A total of 1,900 workers were laid off in the third quarter as redundancies remained at pre-recession levels, it said.
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