Layoffs eased in 1Q12

Manufacturing slashes took a breather but services and construction firms seem to be issuing out more pink slips.

Still, the total workers made redundant in manufacturing is down to 800 from 1,660 from 4Q11, a big enough fall to compensate for the smaller combined rises in services (up to 1,600 from 1,360) and construction (up to 300 from 240).

Here's more from the Ministry of Manpower:

Employment creation moderated slightly in the first quarter of 2012, though it remained fairly strong. Unemployment has risen slightly, amid the rise in layoffs in the earlier quarter which has since eased off in the first quarter this year. These are the key findings from the "Employment Situation, First Quarter 2012" report released by the Ministry of Manpower's Research and Statistics Department.

Main Findings. Total employment is estimated to have grown by 27,400 in the first quarter of 2012. The increase was lower than the seasonal high of 37,600 in the fourth quarter and the 28,300 in the first quarter of 2011. The bulk of the employment gains in the first quarter of 2012 continued to come from services, which added 19,800 workers. Construction continued to register strong increase of 8,000. Manufacturing employment declined by 500. This was the second consecutive quarter of decline, but the losses have eased from the 1,400 in the fourth quarter of 2011.

An estimated 2,700 workers were made redundant in the first quarter of 2012. This was lower than the 3,250 workers affected in the preceding quarter, but close to the 2,750 laid off in the first quarter of 2011. Manufacturing laid off fewer workers (800) in the first quarter this year, after its large cutback in the preceding quarter (1,660). This more than offset the increases in layoffs in services (from 1,360 to 1,600) and construction (from 240 to 300).

The seasonally adjusted overall unemployment rate increased slightly from 2.0% in December 2011 to 2.1% in March 2012. Similarly, the unemployment rate rose over the same period for residents from 2.9% to 3.0% and citizens from 3.0% to 3.2%. An estimated 59,100 residents, including 52,800 Singapore citizens were unemployed in March 2012. The seasonally adjusted figures were 64,000 for residents and 57,700 for citizens.

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