ASEAN KEY DESTINATIONS
Singapore unemployment lowest in 3 years
The overall unemployment rate fell from a seasonally adjusted 2.2 per cent in December 2010, to 1.9 per cent in March 2011.
Total employment rose by 28,300 in the first quarter of 2011, down from the seasonal high gains of 33,900 in the fourth quarter of 2010, which MOM said was driven by year-end hirings for the festive season. An estimated 54,300 residents were unemployed in March 2011.
Most of the gains in the first quarter of 2011 came from services, which added 26,500 jobs. All services industries expanded their workforce, led by community, social and personal services (9,000), professional services (4,400) and wholesale and retail trade (3,400).
MOM also said job vacancies rose substantially by 32 per cent over the year to 49,300 in March 2011. However, after adjusting for seasonality, job vacancies rose by 17 per cent over the quarter to 54,000, a new high since comparable series started in March 2006.
Nominal average monthly earnings rose by 8.5 per cent over the year, accelerating from the growth in the preceding four quarters. After factoring in inflation, real average monthly earnings rose by 3.2 percent. This was slightly lower than the growth of 3.4 per cent in the previous quarter, but was still higher than the 2.1 per cent to 2.8 percent climb in the first three quarters of 2010.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below