Here's the biggest source of job demand in Singapore

32,500 new jobs recorded in 2Q.

According to CIMB, despite restrictions on foreign labour supply, preliminary data show the creation of 32.5k net jobs in 2Q13, up from 1Q13’s 28.9k and the 31.7k in 2Q12.

Surprisingly, unemployment rose to a seasonally-adjusted 2.1% in Jun (1.9% in Mar 13, 1.8% in Dec 12), with retrenchments also rising. 

Here's more:

Service sector remained the biggest source of demand. There were no details on job creations, but going by 1Q13’s share when services accounted for 70% of all new jobs created, we estimate that service employment recovered to about 23k in 2Q13 (21.1k in 1Q13) or +33% yoy to 44k in 1H13.

This, we believe, was led by firmer demand, especially in the sentiment-sensitive finance, hospitality, media and IT service sectors. The service-producing cluster had expanded an estimated 9% qoq SAAR or 5.0% yoy in 2Q13 (1Q13: +8.1% qoq SAAR or +2.7% yoy).