31 Jan '12, 2am

Singapore's unemployment rate hits 14-year low in 2011

Singapore's unemployment rate hits 14-year low in 2011

SINGAPORE: Singapore's unemployment rate fell to a 14-year low last year, supported by strong job creation. The Ministry of Manpower (MOM) said the jobless rate in December was unchanged from a quarter ago, at 2 per cent. The key findings of the ministry's "Employment Situation 2011" report showed that employment growth remained strong in 2011. Preliminary estimates showed total employment grew by 36,300 in the fourth quarter of 2011. This brings employment growth for the whole year to 121,300 - slightly higher than the gains of 115,900 in 2010 when the economy registered a double-digit growth. Economists said this shows that the total economic growth is still driven largely by labour. Associate Professor Shandre Thangavelu from the National University of Singapore's Economics Department, said: "In 2010 we had a very strong growth, a double-digit growth. In 2011, the flash...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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