Slightly lower employment growth in Q122

Total employment only grew by 42,000 which is 5,900 less from Q421.

Employment continued to grow in Q122, albeit at a lower rate, increasing by only 42,000, data from the Ministry of Manpower (MOM) showed.

Last quarter, employment grew by 47,900.

The growth for this quarter was led by non-residents “as employers back-filled vacancies for jobs that were more reliant on migrant workers when border restrictions were progressively lifted,” said the MOM.

However, the non-resident employment level in Q1 was still 15% below the level in December 2019.

Resident employment, on the other hand, has surpassed pre-pandemic levels by March 2022 by 3.9%.

Across industries, resident employment increases were highest in the Financial Services, Information & Communications, Professional Services, and Health & Social Services.

Meanwhile, the large majority of non-resident employment increases were in Manufacturing and Construction.

With the continuous employment growth, unemployment also stayed on a downward trajectory.

Though the overall unemployment rate remained at 2.2% from March to April, the unemployment rate dipped for citizens from 3.2% to 3.1%.

Singapore also saw an improved unemployment rate across most age groups, except for residents in their 50s and 60 & over whose rates jumped to 3.0% and 3.2%, respectively.

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