Singapore Economy

SG UNEMPLOYMENT AT HIGHEST LEVEL SINCE 2010

Joblessness in Singapore is at its highest level since 2010, with total unemployment hitting 2.2% in the 4th quarter as opposed to 2.1% last quarter. This level of unemployment was last seen in the 4th quarter of 2010, when Singapore was recovering from the effects of the global financial crisis.

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LIM SWEE SAY: ONE WRONG STEP & S'PORE ECONOMY MAY FACE PROBLEMS OF OTHER DEVELOPED ECONOMIES

According to Minister for Manpower Lim Swee Say, although the issue of foreign labor is a hot topic these days, the more critical issue is about the remodeling of the Singapore economy. As growth moderates, Mr Lim says Singapore's economy has to restructure into one that is less reliant on manpower, creates better jobs and ensures a healthy delivery of Singaporean workers, who ideally form the core (at least two-thirds) in all the major sectors.

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