Singapore's labor market continues to improve in Q3

0 Comment(s)Print E-mail Xinhua, December 15, 2022
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SINGAPORE, Dec. 15 (Xinhua) -- Singapore's labor market continued to improve in the third quarter of 2022, the Labor Market Report Third Quarter 2022 released by the Ministry of Manpower said on Thursday.

The report said that Singapore's total employment continued to expand robustly in the third quarter by 75,900, more than the 66,500 in the previous quarter, with employment increases observed for both non-residents and residents.

Singapore's seasonally-adjusted overall unemployment rate hit 2.1 percent in September, and dipped slightly to two percent in October. Its seasonally-adjusted resident unemployment rate and citizen unemployment rate were 2.9 percent and 3.1 percent respectively in September, and fell to 2.8 percent and 3 percent respectively in October.

On the other hand, with rising total employment as well as significant uncertainties in the economic outlook, the total number of job vacancies decreased in September to 108,200.

The report said that there are signs that the momentum of improvements in the labor market could slow in the quarters ahead. It added that the number of retrenchments was 1,120 in the third quarter, which remained below pre-pandemic levels, but has trended higher with on-going restructuring in the Information and Communications sector. Enditem

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