Singapore Adds 10,700 Jobs in Q2 as Retrenchments Rise to 4,500
Updated
Updated · Singapore Business Review · Aug 3
Singapore Adds 10,700 Jobs in Q2 as Retrenchments Rise to 4,500
3 articles · Updated · Singapore Business Review · Aug 3
Summary
Singapore’s labour market expanded for a 19th straight quarter in Q2, with total employment rising 10,700 after a 9,400 gain in Q1.
Non-resident hiring in construction and manufacturing drove the increase, while resident job growth slowed and was concentrated in transport, healthcare, and public administration and education.
Retrenchments climbed to 4,500 from 3,830, mainly in outward-oriented sectors such as information and communications and manufacturing, though the ministry said most cuts reflected restructuring rather than downturns.
June unemployment held steady at 2%, with resident unemployment at 2.9% and citizen unemployment easing to 3% from 3.1%.
Forward indicators improved modestly: 43.9% of firms plan to hire over the next three months, up from 40.6%, while wage expectations rose to 29.3% but remained below February levels.