S'pore expects unemployment to fall

S'pore expects unemployment to fall

SINGAPORE: Singapore's labor market is improving in tandem with the economic rebound and the unemployment rate should fall further later this year from 4.5 percent in the June quarter, the manpower ministry said on Wednesday.

A ministry statement released during parliamentary debate noted that the overall unemployment rate remained at 4.5 percent for the third consecutive quarter in the three months ending June, despite the entry of new graduates into the labor force.

"Thus, the overall picture is of an improving labor market and unemployment is expected to fall further toward the end of the year," it said without quantifying the projected fall.

The current jobless rate is significantly lower than the 5.5 percent at end-September 2003 when the Severe Acute Respiratory Syndrome (SARS) crisis hit the economy. -- AFP