SINGAPORE'S LABOUR MARKET SOFTENING

SINGAPORE, Dec 15 (Bernama) - Singapore's labour market has showed signs of softening as a result of the global economic downturn, according to the republic's Manpower Ministry.

It said Monday that total employment grew by 55,700 in the third quarter
but
lower than the growth in the second quarter which was 71,400.

The figure was even lower than that recorded a year ago which was
58,600.

However, total job gains in the first nine months of this year which was
200,400 exceeded the 172,400 over the same period last year, supported by strong
gains in the first half of the year, the ministry said in a statement.

The sectors that experienced drop in employment growth were services which
registered 34,300 workers, lower than the gains in the previous quarter
(38,300), construction eased to 16,500 from 22,400, and manufacturing reduced to
4,600, sharply lower than the trend of more than 10,000 jobs added per quarter
since the third quarter 2006.

Overall unemployment rate remained at a seasonally adjusted 2.2 percent in
September 2008, unchanged from June 2008.

However, the resident unemployment rate (seasonally adjusted) rose to 3.3
percent in September 2008 from 3.1 percent in June 08, amid an increase in
resident labour supply.

The ministry said an estimated 56,000 residents were unemployed in
September 2008 but the seasonally adjusted figure was 65,400.

The long-term unemployment rate edged up to 0.5 percent in September 2008
from 0.4 percent a year ago, after trending down in the last four years, it
added.

A total of 2,346 workers were retrenched in the third quarter 2008, up from
the previous quarter (1,798) and a year ago (1,827).

Manufacturing accounted for a higher percentage of the retrenchment in
third quarter 2008 (1,709 or 73 percent) compared to the second quarter (1,216
or 68 percent), followed by the services sector (562 or 24 percent), the
ministry said.