The Ministry of Manpower said employment growth in some sectors was offset by a drop in the number of people working in retail trade and food and beverage services. MOM attributed the contraction to seasonal factors.
SINGAPORE: The number of employed Singapore citizens and permanent residents fell for the first time since the second quarter of 2020, according to the Ministry of Manpower’s latest labour market update released on Thursday .
“Usually in the second half of the year, close to September until December, and sometimes stretching a little bit into the Chinese New Year, we have all these year-end festivities as well as we have the ,” said Mr Ang Boon Heng, director of Manpower Research and Statistics at MOM. The unemployment rate remained low in the second quarter, but is likely to climb slightly in the coming months, MOM said.
An MOM poll also revealed that in June 2023, only 58.2 per cent of firms had plans to hire in the next three months, down from 64.8 per cent in March.Retrenchments declined in the second quarter after rising for three quarters, with reorganisation or restructuring being the main reason cited.
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