Singapore Records Strong Employment Growth In Q3

By Tengku Noor Shamsiah Tengku Abdullah SINGAPORE, Dec 15 (Bernama) -- Singapore's employment growth was strong and unemployment dipped in the third quarter of 2011 (Q311), according to the latest statistics from Ministry of Manpower. Total employment grew by 31,900 in the third quarter of 2011, higher than the 24,800 in the preceding quarter and 20,500 in the third quarter last year. From January-September this year, total employment grew by 85,000, slightly higher than the gains of 82,000 in the same period in 2010. The bulk of the employment gains in Q311 came from services (21,200), slightly higher than in the preceding quarter (20,200). Supported by public sector projects, construction workforce rose by 6,800, higher than the gains of 3,600 in the previous quarter. Manufacturing registered gains of 3,700, up from 800 in the preceding quarter. The seasonally-adjusted overall unemployment rate declined from 2.1 per cent in June 2011 to two per cent in September 2011. Similarly, the unemployment rate for residents dipped from three per cent to 2.9 per cent and for Singapore citizens from 3.1 per cent to three per cent over the same period. An estimated 52,600 residents, including 45,700 Singapore citizens, were unemployed in September 2011. Layoffs of workers in the third quarter remained low, though workers on short workweek/temporary layoff have risen. Data pertain to private sector establishments each with at least 25 employees and the public sector. In Q311, 1,960 workers were made redundant, slightly lower than the 2,020 in the preceding quarter. The number of workers on short work-week/temporary lay-off rose from 180 in the second quarter to 660 in the third quarter, the highest since the first quarter of 2010. The Central Provident Fund records showed that six in ten residents laid off in the second quarter of 2011 secured employment by September 2011. This rate of re-entry into employment within six months of redundancy rose for the third consecutive quarter. Nevertheless, it remained below the previous high of 67 per cent and 79 per cent in the first half of 2008 before the recession. Job vacancies dropped by 3.4 per cent over the quarter to 54,000 in September 2011, but remained 7.6 per cent higher than a year ago. The employment outlook for the fourth quarter of 2011 has softened, as employers turn cautious, in anticipation of weaker economic conditions ahead. Already, the seasonally-adjusted job vacancies had declined over the quarter in September 2011, departing from the rising trend over the past nine quarters. Going forward, employment gains were expected to moderate, beyond the temporary rise in manpower demand during the year-end and ChineseNew Year festivities. -- BERNAMA Malaysia