The economy in Singapore has rallied since the global economic downturn and has seen the number of workers being laid off plummet as a result.

According to the latest figures from the island state, a record low was recorded in the number of individuals who were let go during 2010 to 9,800, the Straits Times reports.

The Ministry of Manpower revealed in a new study that this figure has dropped sharply from the 23,430 seen in 2009.

The Redundancy and Re-employment 2010 report also shows the number of workers laid off has fallen from 14 per 1,000 in 2009 to 5.7 per 1,000 last year.

Manufacturing and construction sector employees were most at risk of losing their jobs, while service industry members of staff had the lowest chance of being made redundant.

Labor market figures for Singapore showed a strengthening of recruitment over the final quarter of 2010, with 33,900 new jobs created over the three months contributing towards a total of 115,900 for the year.

Posted by Kate Griffin