DESPITE the encouraging signs of turnaround in the Singapore's job market, the unemployment rate is likely to stay up for some time, said Minister of State for Manpower and Trade and Industry Lee Yi Shyan on Tuesday.
The third quarter labour market report released by the Ministry of Manpower on Tuesday showed that overall employment expanded by 14,000 in the third quarter, reversing the losses from the preceding two quarters.
Significantly fewer workers were made redundant and job vacancies were up for the second straight quarter.
Commenting on the report, Mr Lee said: 'Although the economic outlook has improved and total employment grew in the third quarter, the unemployment rate is likely to stay up for some time as employers remain cautious about the pace and sustainability of recovery.'
'The Government remains focused on job creation and training, while those who are unemployed are encouraged to retrain and re-skill so that they can find a job as quickly as possible.'
- The Straits Times
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