Unemployment inched up to 2.1%

And total employment grew by a scanty 27,400.

According to the Ministry of Manpower, employment creation has moderated slightly in the first quarter this year, though it remained fairly strong. Unemployment has risen slightly. The seasonally adjusted overall unemployment rate increased from 2.0% in December 2011 to 2.1% in March 2012.

Here's more from MoM:

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%. Even with the increase, the rates were still substantially lower than the high of 3.3% overall and 4.9% for residents and citizens experienced in September 2009 during the last recession.

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.

Layoffs declined, after rising in the preceding quarter 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 displaced 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).