Singapore’s jobless rate fell to a five-year low last quarter as companies hired more local workers after the government tightened the inflow of foreign labor.
The seasonally adjusted jobless rate fell to 1.8 percent from 1.9 percent in the third quarter, the Ministry of Manpower said in a statement today. The median estimate of nine economists surveyed by Bloomberg News was for a 1.9 percent rate. The economy added 44,500 jobs last quarter, compared with 26,200 in the previous period. Full story
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