31 Jan '12, 2am

Singapore unemployment hits 14-year low, with over 120,000 jobs created in 2011

Singapore unemployment hits 14-year low, with over 120,000 jobs created in 2011

Singapore's unemployment rate was brought to a 14-year low with the creation of 121,300 jobs in 2011. -- ST PHOTO: JOYCE FANG By Cai Haoxiang Singapore's unemployment rate was brought to a 14-year low with the creation of 121,300 jobs in 2011. However, layoffs also increased substantially in the last three months of 2011, according to preliminary estimates from the Manpower Ministry. For the whole of 2011, the services sector added 95,100 workers, and the construction sector added 22,200. Manufacturing added 2,900 jobs as gains of 4,800 jobs in the first nine months of 2011 offset the 1,900 job losses there in the last three months. Two in three jobs created, or 79,800, went to foreigners in response to strong manpower demand, said the Manpower Ministry. Local employment grew by 36,600 in 2011 'with slower resident population growth and most economically active residents a...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

Comments

  1. 31 Jan '12, 12pm

    In such times, Singapore should count themselves as lucky. In particular, British expatriates who can enjoy the high life while the ones they leave behind in the UK face a double dip recession and highest unemployment rates in a decade.

    Craig Dean
    <a target="_new" href="http://www.singaporefinancialadvice.com">Singapore Financial Advice</a>

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