Chart of the Day: Services sector layoffs rose to 7,100 in 2019

The yearly figure was boosted by 1,800 retrenchments in Q4.

This chart from the Ministry of Manpower (MOM) reveals that the number of retrenchments in the services sector grew to 7,100 in 2019, compared to 6,960 in 2018, based on preliminary estimates. It took up the bulk or 66% of all retrenchments in the city.

In Q4 2019, retrenchments in the sector likewise climbed to 1,800, compared to 1,690 in the previous quarter. All broad sectors saw layoffs grow in this quarter.

Islandwise, retrenchments held steady at 10,700 in 2019 compared with the 2018 figure. The figure rose in the manufacturing sector whilst declining in the construction sector.

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