Singapore Q3 jobless rate holds at 2.2 pct
31/10/2008 17:29
Singapore's jobless rate in the third quarter remained unchanged at 2.2
percent after seasonal adjustments compared to the previous quarter, amid
greater economic uncertainties, the government said today.
Preliminary
estimates released by the Manpower Ministry showed that employment rose by
57,800 in the third quarter, lower than the 71,400 jobs created in the second
quarter.
The booming construction industry created 16,400 jobs in the third
quarter, but lower than the record 22,400 gains in the previous quarter.
Amid
weaker external demand, employment in manufacturing grew by 4,900, half the
increase in the previous quarter, while services broadly held steady, adding
36,200 workers, lower than the gains of 38,300 in the previous quarter, said the
ministry.
Statistics also showed that 2,000 workers were retrenched in the
third quarter, up from 1,798 in the previous quarter. Most of the retrenched
workers came from manufacturing which laid off 1, 500 workers, mainly from
Singapore's key industry - electronics. Another 500 workers were laid off from
the services industries.
As the global financial crisis, the city-state's
export-driven economy fell into recession in the third quarter. Advance
estimates indicated that Singapore's gross domestic product (GDP) declined by
0.5 percent in the third quarter.
Xinhua
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