Unemployment remained low, job vacancies up in Q3: MOM

The Ministry of Manpower (MOM) says employment growth stayed high despite a rise in layoffs in the third quarter of this year.

In a statement, MOM notes that job openings rose in the quarter, resulting in a rise in job vacancies to job seekers ratio.

Meanwhile, the increase in layoffs remained substantially below recessionary highs.

Total employment grew by 26,200 in the third quarter of 2012, moderating from the growth of 31,900 in the same period last year, and 31,700 in the second quarter of 2012.

In the first nine months of 2012, total employment grew by 85,100  -- just slightly more than the increase of 85,000 in the same period last year.

MOM says unemployment rates have remained low, refelecting high manpower demand amid the tightening in foreign manpower controls.