Singapore's jobless rate falls to 3.4% in Sept from 4.5% in
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SINGAPORE : Singapore's unemployment rate improved in the third quarter as job creation increased in tandem with the Republic's strong economic growth.
The seasonally adjusted overall unemployment rate fell to 3.4 percent as of end-September, from 4.5 percent at the end of the April-June quarter, according to preliminary estimates issued by the Ministry of Manpower on Monday.
The ministry's estimates show that employment in the period increased by 16,600, the strongest quarterly gain in three-and-a-half years.
"This brings the total number of persons employed to 2.18 million as at September 2004, up 41,200 from the start of the year," the ministry said.
Employment in the goods-producing industries expanded by 7,200.
This came on the back of accelerated gains of 8,800 in manufacturing employment, that was surpassed only in the third quarter 2000.
The gains were partially offset by the continued cutback in construction employment (down 1,800), but at a slower pace than before.
The services-producing industries added 9,400 workers, continuing the increase for the fifth consecutive quarter.
This is higher than the gains in the preceding (8,000) and the same quarter last year (3,000).
The Manpower Ministry also says that retrenchment has eased further.
Preliminary findings from a survey of private sector establishments each with at least 25 employees show that 1,700 workers were retrenched in the third quarter of 2004, a reduction of 17 percent from the previous period.
This marks the fifth consecutive quarterly decline, amid an improving job market.
The goods-producing industries accounted for 800, or 47 percent, of the workers retrenched in the quarter while the services-producing industries made up the other 900, or 53 percent, of the workers laid off. - CNA -
Is it a too good news?
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Never believe 'official stats'
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it's because i hired them.
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In fact, it is from Statictics DeptOriginally posted by Jesus Christ:Never believe 'official stats'
But I only never believe the CSI, because FairPrice delibrately increase the price for more profits as Cold Storage is cutting prices -
So who believes this figure?