Singapore 4Q unemployment rate rises to 2.2%, from 2.1% in 3Q

Singapore’s unemployment rate rose marginally in the fourth quarter, as more factory and service industry workers lost their jobs.

The seasonally adjusted unemployment rate rose to 2.2% in the fourth quarter, from 2.1% in the third, preliminary estimates released Monday by the Ministry of Manpower show.

 

The labor market is estimated to have added 30,600 jobs during the fourth quarter, compared with 20,500 in the third.

 

For the 2010 full year, the unemployment rate fell to 2.2%, from 3.0% in 2009. Singapore’s economy added 112,500 jobs last year, compared with 37,600 jobs added in 2009, the data show.

 

A rebounding global economy and the opening of two integrated casino resorts helped boost employment in Singapore last year.

 

During the fourth quarter, 3,200 jobs were estimated to have been made redundant, compared with 1,930 in the preceding quarter.

 

A total of 2,500 workers were estimated to have been retrenched and another 700 had their contracts terminated in the fourth quarter, the ministry said.