Singapore 4Q unemployment rate rises to 2.2% from 2.1% in the previous quarter as a relatively higher number of jobs are lost in the manufacturing and services sectors.
The data are unlikely to prompt any policy changes as unemployment rate rise is marginal, but the government is likely to watch jobs reports closely as elections loom.
In 4Q, 3,200 jobs were estimated to have become redundant vs 1,930 in 3Q. Data show 30,600 new jobs were added in 4Q vs 20,500 in 3Q. The unemployment rate shrinks to 2.2% in 2010 compared to 3.0% in 2009, the data show.
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