Ng said economic growth in the first six months of the year of 10 percent would likely drive down the unemployment rate from its current rate of 4.5 percent in the third quarter, the Straits Times quoted him as saying.

This would keep momentum on track for unemployment rate to fall to at least 4.0 percent by the end of  the year.

"I think we are quite comfortable and confident that unemployment will go down to that level," Ng told local reporters at a community event on Sunday.

Singapore's economy growth slowed to 7.7 percent year-on-year in the third quarter, according to advance estimates released by the government last week. On a quarterly basis, the economy contracted by 2.3 percent.

The government's official full-year economic growth forecast is 8.0-9.0 percent.

Asked if he thought the record high world oil prices could impact the local job market, Ng replied: "We don't think so".

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