(MENAFN) The labor market in Singapore remained tight in the first quarter of 2015, as overall unemployment rate dipped to 1.8 percent from the previous quarter's 1.9 percent, Xinhua reported.
Employment also contracted in the first quarter after five years of strong increases, according to the report by the Manpower Ministry's (MOM) Manpower Research and Statistics Department released.
Unemployment rate for residents fell to 2.5 percent from the 2.7 percent recorded in the fourth quarter, while the rate for citizens hit 2.6 percent from the previous quarter's 2.7 percent, the report revealed.
The decline was led by manufacturing, with the workforce shrinking by 6,900 jobs, amid weak output growth in marine and offshore engineering and the completion of chemicals maintenance projects.
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