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The Financial Express

Singapore's resident employment posts strong rebound in Q3

| Updated: December 23, 2020 12:23:41


Evaly and Fianancial Express Evaly and Fianancial Express
File photo used for representational purpose only File photo used for representational purpose only

The employment of Singapore's residents, referring to Singapore citizens and permanent residents, rebounded strongly in the third quarter (Q3) of 2020, according to the Labour Market Report released by the Ministry of Manpower on Thursday.

The resident employment increased 43,200 in the third quarter to 2.34 million in September, which is just 0.4 per cent lower than the 2.35 million in September 2019, reports Xinhua.

However, Singapore's non-resident employment continued to contract and decreased 72,300 in the third quarter, which was more sharply than in the first two quarters of this year.

As a result, the country’s total employment contracted in the third quarter by 29,100, significantly less than the contraction of 103,800 in the previous quarter.

The employment figures do not include foreign domestic workers, according to the report.

The report attributes the rebound in resident employment to the strong support measures of the Singaporean government for local employment.

It said the uncertainty in the economic environment and weak demand conditions will weigh on the recovery of Singapore's labor market, and coronavirus (Covid-19) has also accelerated the pace of business transformation and may cause some jobs not to return.

"As such, labor market recovery may remain protracted beyond the immediate rebound," it added.

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