Singapore - The manufacturing and services sector comprised of the bulk of retrenchments in the third quarter, according to a report by the Ministry of Manpower.
Total employment grew by 55,700 in the third quarter of this year, comparably lower than the second quarter (71,400). The services sector added 34,300 workers, slightly higher than a year ago. While manufacturing added 4,600 jobs, it is a sharp contract from the 10,000 jobs they've been adding per quarter since Q3 2006.
The overall employment rate reportedly remained at a seasonally adjusted rate of 2.2% in September this year, unaltered from January.The resident unemployment rate, however, rose to 3.3%, up 0.2% from January in spite of the increase in labour supply. There is an estimation of 56,000 unemployed residents in September.
