The number of workers retrenched from the manufacturing sector declined over the same six-month period. Read more at straitstimes.com.
SINGAPORE – Singapore’s economy managed to add 4,400 new manufacturing jobs in the first six months of 2023, Deputy Prime Minister Heng Swee Keat said on Wednesday.
Mr Heng also said that in the hyperconnected world of Industry 4.0, “no single manufacturing base is an island”. In addition to the new jobs created, the number of workers retrenched from the manufacturing sector had also declined over the same six-month period. Maybank Research senior economist Chua Hak Bin went further, saying that the manufacturing downturn “appears to have bottomed out in the first half of the year”.
During his address, Mr Heng also highlighted the need for the manufacturing sector to innovate not only for performance, but also for the planet as well as for people.