SINGAPORE - The rate of unemployment crept up in the first quarter of 2014, but the number of job openings continued to outnumber that of job seekers amid continued strong job growth, based on the latest official figures released by the Manpower Ministry on Friday.
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Here is the press release from the Ministry of Manpower:
Unemployment remained low, although it edged up slightly in March 2014. Job openings continued to increase and outnumber job seekers. These are the key findings from the "Labour Market, First Quarter 2014" report released by the Ministry of Manpower's Research and Statistics Department.
Main Findings
The overall seasonally adjusted unemployment rate rose from 1.8% in December 2013 to 2.0% in March 2014. Similar increases were observed for residents from 2.7% to 2.9% and citizens from 2.8% to 3.0%. This could reflect increased job search activity as more residents, especially the less educated, were encouraged to enter the labour force, given more job openings and an increase in wages, with the tightening of foreign manpower controls. Overall, unemployment rates were still low and comparable to earlier quarters.
The long-term unemployment rate stayed low at 0.6% in March 2014. There were 12,900 residents who had been looking for work for at least 25 weeks in March 2014, down from 13,700 in March 2013.
The long-term unemployment rate stayed low at 0.6% in March 2014. There were 12,900 residents who had been looking for work for at least 25 weeks in March 2014, down from 13,700 in March 2013.