Chart of the Day: Struggling manufacturing sector sheds over 15,000 jobs in nine months

Blame it on the drop in factory output.

Employment in the manufacturing sector has been consistently shrinking since the fourth quarter 2014, according to the latest labour market report by the Ministry of Manpower.

In the first three quarters of 2015, manufacturers trimmed some 15,600 jobs, causing overall employment level in the sector to drop to 520,300 workers.

This compares with just 4,400 manufacturing jobs lost for the whole of 2014.

The drop in manufacturing jobs can be attributed to the steady decline in manufacturing output. Domestic factory output contracted 6.2% year-on-year in the third quarter, extending the 4.8% decline in the previous quarter.

Manufacturing was the only sector which recorded a drop in employment in Q3. Some 13,300 new services jobs were recorded in te quarter, while the number of construction jobs increased by 3,700.

Singapore's overall employment growth dropped to its slowest pace since the global financial crisis in the third quarter.

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