SINGAPORE — Singapore’s total employment rate grew in the first quarter of 2023 — the sixth consecutive quarter of increase — even as the Ministry of Manpower (MOM) noted some signs of cooling labour demand.
In MOM’s latest labour market report on Thursday , total employment — excluding migrant domestic workers — went up by 33,000 in the first quarter of this year, compared with 43,500 in the fourth quarter of 2022.
Retrenchments continued to increase in the first quarter to 3,820 — an increase from 2,990 in the fourth quarter of 2022. MOM noted that the labour market tightness eased as job vacancies declined for the fourth consecutive quarter to 99,600 in March 2023.
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