Total employment returned to pre-pandemic levels. Read more at straitstimes.com.
SINGAPORE – Despite total employment returning to pre-pandemic levels, the number of retrenchments in the fourth quarter between October and December 2022 doubled from the third quarter.2,990 jobs were cut in the quarter,However, the ministry said that the 6,440 total retrenchments in 2022 remained low compared to the pre-pandemic years of 2018 and 2019, when more than 10,000 jobs were cut each year.
Non-resident employment contributed to the bulk of the increase in total employment at 201,600, although it has yet to reach its 2019 level. With this, the unemployment rate across all three categories has fallen below the average in 2018 and 2019, said the ministry. “A significant proportion of vacancies were in sectors such as construction and manufacturing, which were sectors typically more reliant on foreign workers,” said MOM.
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