, Singapore
Photo by Hasin Farhan on Unsplash

Employment growth moderates in Q2

The number of employed individuals in Singapore rose by 23,700.

Singapore’s employment figures continued to expand in 2Q23, albeit at a slower pace.

Based on the Ministry of Manpower’s (MOM) advanced estimates, employment figures only rose by 23,700 in 2Q23.

Non-residents, particularly from the construction sector, contributed the most to the employment growth for the quarter due to demand for private and public sector projects.

“Majority of the non-resident employment growth in construction pertains to Work Permit Holders. Non-residents employed in sectors with higher non-resident employment growth were typically in lower-paying roles,” the MOM said.

Whilst contracting slightly in 2Q23, resident employment remained well above its pre-pandemic level.

“The contraction occurred mainly in Food & Beverage Services (F&B) and Retail Trade, which is not unusual in the first half of the year,” the MOM said.

“F&B and retail outlets typically increase their hiring of temporary staff in the fourth quarter to cater for year-end festivities, and reduce their number of staff in subsequent quarters, with the easing of consumer demand,” the ministry added.

Meanwhile, unemployment rates did not change in June, remaining at 1.9%. 
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Event News

Event News

SBR National Business Awards 2024 Winner: Wiseasy Technology Pte Ltd Cards & Payments
Lay Cheng Tan, Co-Founder & Chief Investment Officer, and Mayank Raheja, Managing Director (EMEA & SA) of Wiseasy Technology Pte Ltd, provided insights into preventing fraud and inefficiency with the WiseQ QR Payment Solution.
Cards & Payments SBR National Business Awards 2024 Winner: Wiseasy Technology Pte Ltd
Lay Cheng Tan, Co-Founder & Chief Investment Officer, and Mayank Raheja, Managing Director (EMEA & SA) of Wiseasy Technology Pte Ltd, provided insights into preventing fraud and inefficiency with the WiseQ QR Payment Solution.