Employment growth doubles in Q3 as resident and non-resident hiring rises

Advanced estimates show that employment grew by 24,100.

Employment growth more than doubled in Q3 as hiring of both residents and non-residents picked up.

Advanced estimates from the Ministry of Manpower (MOM) showed that employment grew by 24,100 in Q3, a wider increase from the 11,300 growth in Q2.

Resident employment grew in sectors like Information & Communications, Professional Services, and Health & Social Services. 

Meanwhile, the Construction, Manufacturing, and Administrative and Support Services sectors drove the increase in non-resident employment.

With higher employment, unemployment rates dropped to 1.8% in September from 1.9% in August.

Unemployment rates for residents and citizens held steady at 2.6% and 2.7%, respectively.

Retrenchments likewise declined, falling to 2,900 in Q3 from 3,270 in Q2.