SINGAPORE'S job market is showing signs of a turnaround on the back of an economy that registered a growth spurt in recent months, employment figures released on Friday confirmed.
Total employment rose faster than expected, according to the Manpower Ministry's preliminary estimates of the jobs situation for July to September.
The 15,400 jobs added between July and September this year actually reverses the 13,900 jobs lost up till June this year.
Pointing to this, Dr Chua Hak Bin, head of Singapore research at Citi, said: 'The jobs recession is over. Losses were far lower compared to past recessions.'
But the ministry pointed to a slight rise in unemployment: Overall unemployment rose to 3.4 per cent from 3.3 per cent in the previous quarter.
Among residents, it was 5 per cent - still below the 6.2 per cent peak six years ago. This means 100,300 citizens and permanent residents were jobless. The previous high was 109,100 in September 2003.
- The Straits Times
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