Singapore’s unemployment rate unexpectedly fell last quarter as construction companies and manufacturers increased hiring even as the economy contracted.
The seasonally adjusted jobless rate fell to 2 percent in the three months through June from 2.1 percent the previous quarter, the Ministry of Manpower said in a statement today. The median estimate of nine economists surveyed by Bloomberg News was for a rate of 2.2 percent. The economy added 29,200 jobs last quarter, compared with 27,200 in the previous period. Full story
