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It was a mixed picture for the labour market as employment continued to grow but unemployment, including long-term unemployment, and retrenchment numbers went up in the third quarter.
According to finalised data in a Manpower Ministry (MOM) report released yesterday, total employment, excluding foreign domestic workers, grew by 38,600 in the first three quarters of the year, the highest in five years. This reflected the rebound in the construction sector. Excluding that sector, employment growth in the first nine months of the year (30,400) kept pace with the same period last year (30,300).
In the third quarter specifically, total employment grew by 21,700, revised from October’s flash estimate of 22,400.
This is still more than three times compared with the previous quarter (6,200) and higher than the same period last year (16,700).
But unemployment inched up quarter on quarter, with the seasonally adjusted jobless rate rising from 2.2 per cent to 2.3 per cent overall, from 3.1 to 3.2 per cent for citizens and permanent residents, and 3.2 to 3.3 per cent for Singaporeans.
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