Singapore's total employment grows for 5th straight quarter, but MOM notes recent rise in retrenchments

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The projected slowdown in economic growth would likely ease the momentum in the labour market in 2023, says the Manpower Ministry.

SINGAPORE: Singapore's total employment grew in the fourth quarter of 2022 - the fifth consecutive quarter of increase - even as the Ministry of Manpower warns of easing momentum in the labour market in the year ahead.

Resident employment also picked up over the quarter, amid hiring for year-end festivities in sectors such as retail and food and beverage services. "The tight labour market and economic recovery in 2022 has led to continued improvements in the unemployment situation, to its pre-pandemic steady state," MOM noted.

 

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