Singapore's jobless rate rises to 2.1% in March
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SINGAPORE: Fewer jobs were created in the first quarter of 2012, with about 27,400 new jobs added.
The increase was lower than the 28,300 new jobs in the first quarter of 2011 and the seasonal high of 37,600 in the fourth quarter of 2011.
Even though employment creation moderated slightly, the job market remained fairly strong.
The jobless rate rose slightly, as the seasonally-adjusted overall unemployment rate increased from 2 per cent in December 2011 to 2.1 per cent in March 2012.
These are the key findings from a report - Employment Situation, First Quarter 2012 - released by the Research and Statistics Department of the Ministry of Manpower (MOM) on Monday.
The unemployment rate rose over the same period for residents from 2.9 per cent to 3 per cent and citizens from 3 per cent to 3.2 per cent.
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.
These come amid the rise in layoffs in the earlier quarter which has since eased off in the first quarter this year.
MOM said the bulk of the employment gains in the first quarter continued to come from services, which added 19,800 workers.
Construction continued to register strong increase of 8,000.
Manufacturing employment declined by 500.
This was the second consecutive quarter of decline, but the losses have eased from the 1,400 in the fourth quarter of 2011.
About 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 this year, after its large cutback in the preceding quarter, at 1,660.
MOM said this offset the increases in layoffs in services - from 1,360 to 1,600 - as well as in construction - from 240 to 300.
- CNA/ck -
Unemployment still quite low.
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Unemployment still quite low.
-Because almost 50 percent are above the age of 60.
-Those who are not in the work force longer than 1- 2 years are possibly no longer in the count .