Singapore's overall unemployment rate averaged 2.3 percent in 2008, up from 2.1 percent in 2007, the country's Ministry of Manpower said on Friday.

Resident unemployment rate stood at 3.2 percent in 2008, up from 3.0 percent in 2007, the ministry said, adding that this is the first time that the annual average unemployment rate has increased since 2003, when it peaked at 4.0 percent for overall unemployment and 5.2 percent for resident unemployment.

For the whole of 2008, some 13,400 workers were retrenched, substantially higher than 7,675 in 2007. Manufacturing and services formed the bulk of retrenchments, with 8,300 and 4,900 workers retrenched respectively.

Including those who were prematurely released from their contracts, 16,000 workers were made redundant, significantly higher than the 8,592 in 2007, the ministry said.

On a seasonally adjusted basis, overall unemployment rate rose to 2.6 percent in the fourth quarter of 2008, up from 2.2 percent in the previous quarter and the decade low of 1.7 percent over the same period a year ago.

(Xinhua News Agency January 30, 2009)