Singapore's Jobless Rate Declines Slightly To 2 Per Cent

15 Dec 2011

Singapore's jobless rate declined slightly to 2.0 per cent in the third quarter as employers hired more staff, but the outlook had softened amid weakening economic conditions, the government said Thursday.

The unemployment rate in the three months through September was down from 2.1 per cent in the previous quarter, the Ministry of Manpower said.

It said the labour market added 31,900 jobs in the third quarter, compared to 24,800 in the preceding quarter.

Employment gains were expected to moderate as employers turned cautious in anticipation of a weaker economic environment, the ministry said.

The government earlier forecast the economy to expand by 5 per cent this year, but said growth was likely to slow down to 1 to 3 per cent next year as a sluggish US economy and eurozone debt woes dampen demand for the city-state's goods.

Last year, Singapore posted record growth of 14.5 per cent.