It was an improvement compared to the three-month period before that, when just over six in 10 Singaporeans and permanent residents who were retrenched found work over a comparable period of time.

The Manpower Ministry (MOM), which disclosed these figures on Friday, said the improvement could reflect 'more realistic expectations' that workers had towards jobs.

Mr Lim Swee Say, whose labour movement has been helping retrenched workers get new jobs, described the 70 per cent rate as 'very encouraging'.

For one group of workers however, the 'encouraging' rise was not to be found.

According to MOM figures, degree holders saw their re-employment rate fall from 68 per cent to 62 per cent in the same period. Graduates 50 years and older had it the worst. Their re-employment rate fell from 62 per cent to 41 per cent.

By comparison, the rate for retrenched locals with below secondary education rose from 53 per cent to 71 per cent.

MOM noted that 'mature residents with tertiary education were the most vulnerable groups' in this recession, unlike in previous downturns when the less educated were the most vulnerable.

Economists have said that this is because the financial sector, which employs many degree holders, has been downsizing since the crisis hit last year. Struggling companies have also been laying off administrative workers who are seen as less essential to survival.

Commenting on the report, Manpower Minister Gan Kim Yong said yesterday that there are still jobs available. He noted that 45,000 jobs are available this year and the next, including about 18,000 in the public sector.

Read the full story in Saturday's edition of The Straits Times.