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 (MOM) latest labour market update released on Thursday (Sept 14).
Resident employment contracted by 1,200 in the second quarter of 2023 despite “robust increases” in sectors such as community, social and personal services and financial and insurance services.
Many people are hired for temporary work related to these events, and that tapers off in the first half of the next year, he said.MOM said it does not expect the contraction in resident employment to persist. Hiring will be boosted by the recovery in tourism and the year-end celebrations, though it may not be as strong as in 2022, MOM said.
The unemployment rate remained low in the second quarter, but is likely to climb slightly in the coming months, MOM said. Job vacancies hit a record of 126,000 in March 2022. “ basically everybody was saying that the market was overheating, overly tight. Businesses were saying that they don’t have enough, there was a worry about a shortage of manpower,” said MOM’s Mr Ang.
Retrenchments declined in the second quarter after rising for three quarters, with reorganisation or restructuring being the main reason cited.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore deputy prime minister said Singapore is not ready for a minority PMSingapore Deputy Prime Minister Heng Swee Keat again said Singapore was not ready for a prime minister who is not Chinese, the majority race of the country. “Will we ever have a non-Chinese as a prime minister? It will come one day because the Singapore society is maturing,” Heng said at the Forbes Global CEO …
Read more »
In pictures: Singapore and China conduct joint military exerciseSINGAPORE: Singapore and China concluded a joint military exercise on Tuesday (Sep 12). The Singapore Army and People's Liberation Army (PLA) conducted Exercise Cooperation in Singapore from Sep 1 to Sep 12. Personnel from the Singapore Armed Forces' (SAF) 3rd Singap
Read more »
King The Land actor Lee Jun-ho to hold first Singapore fan meeting on Dec 8His first solo fan meeting tour will travel to seven other Asian cities. Read more at straitstimes.com.
Read more »
King The Land actor Lee Jun-ho to hold first Singapore fan meeting on Dec 8South Korean actor Lee Jun-ho will be in Singapore on Dec 8. The star of the hit K-drama King The Land (2023), who is also a member of K-pop boy band 2PM, will embark on his first solo fan meeting tour, said his agency JYP Entertainment on Instagram on...
Read more »
Farewell, Madam Halimah: Singapore’s first female president’s last day in officePresident Halimah had served as a powerful symbol of unity for all Singaporeans. Read more at straitstimes.com.
Read more »
Singapore's resident employment contracts for the first time in 3 yearsThe 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.
Read more »