Singapore Q4 jobless rate 1.8 pct; employment soars

SINGAPORE, March 15 (Reuters) – Singapore’s Ministry of

Manpower released detailed unemployment data for the fourth

quarter of 2012 on Friday:

(percent, seasonally adjusted)

Q4/12 Q3/12 Q2/12 Q1/12 Q4/11 Q3/11

1.8 1.9 2.0 2.1 2.0 2.0

CONTEXT:

– The final fourth quarter jobless rate was unchanged from

the preliminary estimate of 1.8 percent.

– The seasonally adjusted unemployment rate for Singapore

citizens was 2.9 percent in the fourth quarter, unchanged from

the preliminary estimate.

– For the whole of 2012, the annual average unemployment

rate remained at 2.0 percent, unchanged from 2011. For citizens,

the average unemployment was 3.0 percent, also unchanged from

2011.

– Singaporeans and individuals with permanent residency

status make up about two-thirds of the total workforce,

excluding maids.

– Total employment grew by 129,100 or 4.0 percent in 2012,

slightly above the 122,600 or 3.9 percent in 2011, mainly

reflecting the higher employment increase in construction.

– Local employment rose by 58,700 or 2.9 percent,

substantially higher than the gains of 37,900 or 1.9 percent in

2011.

– Singapore has been making it harder for firms to hire

low-cost foreign workers in a bid to reduce its dependence on

overseas labour and address complaints by citizens concerned

about crowded trains and increased competition for jobs.

– The city-state last month announced higher levies and

tighter quotas for companies hiring low-cost foreign workers in

its budget for the financial year beginning April 2013.

(Reporting by Kevin Lim)

Singapore Q4 jobless rate 1.8 pct; employment soars