Employment increases for the first time in one full year

Approximately 4,800 Singaporeans found employment in the first quarter of the year.

Unemployment eased by 0.1% in March, according to labour market estimates released by the Ministry of Manpower.

Total employment (excluding migrant domestic workers) grew in the first quarter as 4,800 Singaporeans found jobs. This is the first increase since the fourth quarter of 2019.

This brings the number of unemployed residents to 95,000 as of March 31, compared to the 104,300 recorded in December 2020.

A bulk of the employment increase came from more residents finding work in the services sector, primarily in information & communications, financial services, and professional services.

Construction saw muted employment growth in the first quarter following a decline in non-resident employment. Manufacturing continued to see employment declines.

Unemployment is still far from pre-pandemic levels, the Ministry said, declining by 0.1% in March to 2.9% overall.

Retrenchments are expected to see a sharp drop in the first quarter by 2,100. This would be the second quarter of declines since retrenchments peaked at 9,120 in the third quarter of last year.

The Ministry is set to release the official labour market figures for the first quarter in mid-June.

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