Singapore’s unemployment rate edged lower in the third quarter as increased restrictions on foreign workers in the city-state created tighter conditions in the labor market.
The seasonally adjusted unemployment rate fell to 1.9% in the three months ended Sept. 30 from 2.0% in the July-to-September quarter, preliminary estimates by the Ministry of Manpower released Wednesday showed.
The ministry estimated the labor market to have added 24,900 jobs during the third quarter, down from 31,700 added in the preceding quarter.
The bulk of employment gains in the third quarter continued to come from the service sector, which added 11,300 workers. The construction sector added 9,800 jobs.
Employment in the manufacturing sector rose by 3,700 in the third quarter of 2012.
An estimated 3,300 jobs were made redundant during the third quarter, up from the preceding quarter when 2,210 people were laid off, according to the statement.
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