Singapore unemployment falls as new casinos hire
The jobless rate was 2.5 % in December 2008. The economy added a net 38,700 jobs in the fourth quarter, boosted by retailers hiring more staff for the busy Christmas season and the two new casino-resorts, the ministry said. The services sector added 32,100 jobs, construction gained 4,700 while manufacturing gained 1,400.
Malaysia's Genting and Las Vegas Sands are together investing more than us$ 10 billion to open the country's first two casinos during the first half of this year. The government expects the projects will employ about 35,000 workers and add up to 1 percentage point to gross domestic product growth.
The economy added 38,800 jobs last year, led by 56,100 in services and 25,200 in construction. Those gains made up for 43,000 manufacturing job losses. Gross domestic product expanded 3.5 % in the fourth quarter from the same period a year earlier. The government expects the economy to grow up to 5 % this year after shrinking 2.1 % last year.
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