The latest data marks Singapore’s largest quarterly contraction on record since the SARS pandemic which saw hiring dip by 24,000 in June 2003.
Singapore’s labour market is reeling from the effects of the Covid-19 health-turned-economic crisis, as total employment plummeted by 121,800 in June 2020. This more than four times the 25,600 contraction registered in March, according to preliminary numbers released by the Ministry of Manpower (MOM) in its Labour Market Report on July 29.
