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Not hiring! Job openings declined by almost 10% in Q1
After adjusting for seasonality, job vacancies are down to just 50,000.
According to Ministry of Manpower, job openings declined, suggesting that manpower shortages have eased. The number of job vacancies declined by 5.1% over the year to 46,800 in March 2012. After adjusting for seasonality, job vacancies declined by 9.7% over the quarter to 50,000, though this was still higher than the recent low of 49,200 registered in September 2011. Along with the rise in unemployment, the seasonally adjusted ratio of job vacancy to unemployed person fell to 105 job openings for every 100 job seekers in March 2012 from 120 per 100 in December 2011.
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