Singapores unemployment rate eased to 2.7 per cent last year from 3.1 per cent in 2005 as a strong economy created a record number of jobs. The rate was also lower than the 3.4 per cent recorded in 2004 and the 4.0 per cent during an economic downturn in 2003. For the fourth quarter to December 2006, the seasonally adjusted unemployment rate stood at 2.6 per cent, down from 2.7 per cent in September and 2.8 per cent in June.

The strong economy continued to generate record employment gains. Total employment creation for the whole of 2006 hit an alltime high of 173,000, surpassing the previous year.