30 Apr '12, 2am

Singapore's jobless rate rises to 2.1% in March

SINGAPORE: Fewer jobs were created in the first quarter of the year, but the Ministry of Manpower said the domestic job market remains "fairly strong". An estimated 27,400 new jobs were created in the first quarter of 2012, compared to 37,600 the previous quarter, and 28,300 the same time last year. Unemployment rose slightly, to 2.1 per cent from last December's two per cent. UniSIM School of Business' Business Programme head Randolph Tan said it is the start of an inevitable slowdown, as Singapore passes the peak of its economic recovery. "From this point onwards, I expect to see the employment situation decline but not significantly deteriorate," Associate Professor Tan said. "One of the reasons why, is because of the fact that government policy, to a large extent, has been anticipatory in trying to deal with the potential decline in demand [for labour]. "So the reducti...

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

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