Singapore’s labor market continues expansion amid economic growth

SINGAPORE, Oct. 29 (Xinhua) — Singapore’s total employment rose in the third quarter in line with the economic growth, while unemployment rates and retrenchments remained low, the Ministry of Manpower said Tuesday.
Singapore created 24,100 new jobs from July to September, compared to 11,300 in the previous quarter. Both resident and non-resident employment increased in the quarter.
Expecting the migrant domestic workers, the total employment in Singapore reached 3,738,800 by September.
Meanwhile, the overall unemployment rate dipped from 1.9 percent in August to 1.8 percent in September. The number of retrenchments declined to 2,900 in the third quarter from 3,270 in the previous quarter.
Singapore’s economy grew 4.1 percent year-on-year in the third quarter, extending the 2.9 percent growth in the second quarter. ■