Job Firings Slow, Vacancies Rise as Singapore Economy Improves

Bloomberg reports that job firings have slowed down and payrolls and vacancies have risen among Singapore companies, suggesting that the economy is finally exiting from its worst recession.


Citing figures released by Singapore's Ministry of Manpower, Bloomberg says that total employment rose by 14,000 in the three months ended September, compared with a loss of 7,700 jobs the previous quarter.


The ministry's report also says that there were 34,900 job vacancies last quarter, a seasonally adjusted increase of 46% from the prior three months.


Meanwhile, average wages before adjusting for inflation fell 3% in the third quarter from a year earlier, says the ministry, after declining 2.2% in the previous three months.

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