SINGAPORE (July 1): The labour market in Singapore has typically been tight. Over the last four decades, the city state had an average unemployment rate of 2.43%. It did reach an all-time high of 6% in ­early 1986 as Singapore faced its first recession post-independence. Then, the economy rebounded, and as the government restructured the economy, the jobless rate fell to a record low of 1.4% in 1990.

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