economy

Singapore lost jobs at slower pace in third quarter

Singapore lost jobs at slower pace in third quarter

Singapore lost jobs at a slower pace in the third quarter than in the second quarter, and the domestic labor market is expected to continue to recover for the rest of 2021 and into 2022, albeit unevenly across sectors, the Manpower Ministry said Wednesday. The country’s total employment excluding migrant domestic workers fell 2,400 in the third quarter, compared with a 16,300 decline in the previous quarter. This was because resident employment rose strongly by 19,100 in the third quarter while nonresident employment fell 21,500, a pace similar to that in the prior quarter, the ministry said. The number of retrenchments dropped to 1,900 in the third quarter from 2,340 in the second quarter. Meanwhile, the number of job vacancies rose to 98,700 in September from 92,100 in June on a seasonally adjusted basis, while the seasonally adjusted unemployment rate fell 0.1 percentage point from August to 2.6% in September, the data showed. Download.

economy 2021-12-15 Livemint