THE Singapore labour market held steady in the first three months of this year, even as economic growth slowed.
There were 2,500 retrenchments in the first quarter of the year, almost similar to the 2,510 in the previous quarter and higher than the 2,320 in the first quarter of last year, which was a five-year low.However, the seasonally adjusted unemployment rate for Singaporeans inched up slightly to 3.2 per cent in March, from 3.1 per cent in December. The rate for residents - Singaporeans and permanent residents - was unchanged at 3 per cent.
In particular, the number of workers in construction increased slightly in the first quarter of this year, after 11 consecutive quarters - or nearly three years - of decline. The manufacturing sector continued to shed workers.
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