The Ministry of Manpower cautions that labour market conditions could 'soften' in the quarters ahead, with firms appearing to adopt a more cautious stance towards hiring and wage increases.
SINGAPORE: The labour market in Singapore remained stable in the second quarter of 2023, with retrenchments declining following three consecutive quarters of increases, the Ministry of Manpower said on Thursday .
"There was a substantial decline in the number of retrenchments in manufacturing, following the larger-scale retrenchments that occurred in previous quarters.Related: The number of jobs grew by 23,700 in the second quarter, lower than the increase of 33,000 seen in the first quarter. Non-resident employment growth was mainly in construction, amid"sustained demand for both public and private sector projects, such as housing", the ministry said.
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