Singapore’s labour market continues to recover in Q2 2022

International Business News  –  In the second quarter of 2022, Singapore’s labor market continued to recover despite difficulties such as rising inflation, the Russian-Ukrainian conflict and the re-emergence of the new crown pneumonia epidemic, the Ministry of Manpower said in a recent report.

The report said that in the second quarter of this year, Singapore’s total employment increased by about 64,400 people, accounting for 1.9% of the first quarter. Singapore residents have more employment opportunities in the fields of information media, services and finance.

Singapore’s Ministry of Manpower revealed that total employment has reached 99% compared to 2019, indicating a strong recovery in the recruitment market. Singapore’s easing of COVID-19 restrictions has brought many opportunities for SMEs.

In addition, Singapore’s unemployment rate is trending downward and remains at pre-pandemic levels. The overall unemployment rate was 2.1% in June, down from 2.2% in May, and the resident unemployment rate fell from 3% to 2.9%.

Meanwhile, the number of employees quitting their jobs fell to around 1,000 in the second quarter, down from 1,320 in the first quarter.