Job vacancies in Singapore hit record high in Q1’2022
Job vacancies in Singapore hit a record high of 128,100 in Q1’2022, while retrenchments in the city-state are low, the Ministry of Manpower (MOM) said in its latest labour report.
Over the quarter, resident employment exceeded pre-pandemic levels, at 3.9% higher than in Dec 2019, before COVID-19 hit. Non-resident employment remained at 15% below that of Dec 2019, it added.
However, total employment in Singapore still remained below pre-COVID-19 levels as foreign labour has yet to fully return, according to MOM.
The unemployment rate fell from 3.6% to 2.2%, declining to pre-pandemic levels. The resident unemployment rate, which covers Singapore citizens and permanent residents, has hit 3%, while the unemployment rate for citizens is 3.1%.
Trends in resident employment were mixed across sectors, and continued to rise in growth industries like financial services, information and communications, professional services, and health and social services.
However, consumer-facing sectors registered a decline due to temporary workers being hired for year-end festivities leaving in the following quarter, MOM said.