IBTimes UK

In Singapore, total employment growth eased to 11,400 in the first quarter of 2016 from the seasonally high growth in the fourth quarter of 2015 which was 16,100, the Manpower Ministry said on Thursday (28 April).

At the same time, the unemployment rate declined for residents and citizens, largely due to a lower labour force participation rate among youths aged 15 to 24.

The jobless rate among the City's residents dropped to 2.7% from the December quarter rate of 2.9% while that among citizens fell to 2.6% from 3.0%, the Ministry said.

Overall unemployment held steady at 1.9% in March quarter, as per the preliminary estimates published on Thursday.

Layoffs declined in Q1 to 4600 compared to the previous quarter number of 5370, Thursday's data showed. The Ministry, however, noted negative risks to the layoff scenario.

"Amid the cyclical weakness and as the economy restructures, some consolidation and exit of businesses is expected, contributing to redundancies," the Ministry said.

IBTimes UK