Singapore News

News from Singapore

Employment numbers good for 2007

Posted by jtsmyth8 on December 14, 2007

Singapore’s buoyant economy continues to be on a roll, with 58,600 more jobs created in the third quarter and the unemployment rate falling to the pre-Asian crisis level. Wages continued to rise between July and September and at a more moderate pace, said the Ministry of Manpower in a statement on Friday.

Employment in the third quarter expanded by 58,600, up substantially from the increase of 43,000 in the same quarter last year, making it the second highest quarterly increase after the 64,400 recorded in Q2.

This brings the total number of jobs created in the first three quarters of 2007 to 172,400 jobs, comparable to the gains of 176,000 for the whole of 2006.

Amid rapid economic growth and easing in the increase in resident labour supply, the seasonally adjusted overall unemployment rate declined to 1.7 per cent in September – fom 2.3 per cent in June.

The resident unemployment rate also fell significantly to 2.3 per cent from 3.1 per cent over the same period. (story)

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