UNEMPLOYMENT MINISTRY OF MANPOWER
Singapore - Fewer redundancies and more job openings are being seen in Singapore as the country's unemployment rate stabalised itself in the second quarter of the year.
Latest figures from the Ministry of Manpower revealed that employment in the construction and services continued to rise in the second quarter this year amid a slower pace, as 4,700 workers and 3,800 workers were hired respectively.
The overall unemployment rate also stabilised at a seasonally adjusted 3.3% in June, after rising for the past five quarters.
Also, redundancies fell by more than half in the second quarter to 5,980 as compared to the previous quarter of 12,760. The sharp fall is a result of a large reduction of workers in the manufacturing industry who were made redundant.
Further, the report says that 43% of residents retrenched in the first quarter were re-employed by June although re-employment rate has fallen to a new low.
In general, signs of improvement can be seen in Singapore's labour market as job vacancies rose by 17% over the quarter to 24,500. This has increased the ratio of job vacancies to unemployed persons from a seasonally adjusted 31 to 33 openings per 100 job seeker in June 2009.
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