Singapore’s Jobless Rate Falls as Companies Increase Payrolls
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Singapore’s unemployment rate unexpectedly fell last quarter after companies in the services and construction industries increased hiring.
The seasonally adjusted unemployment rate eased to 2 percent in the three months through September from 2.1 percent the previous quarter, the Ministry of Manpower said in a statement today. That’s better than the median estimate of eight economists surveyed by Bloomberg News for a rate of 2.3 percent. The economy added an estimated 32,300 jobs last quarter, compared with 24,800 in the previous period.