At the same time, the number of retrenchments rose to 4,110 in the third quarter, up from 3,200 in the previous quarter. This came as more firms went through reorganisations or restructuring activities, or faced business and cost concerns.
The labour market expanded in 3Q2023 with total employment for residents and non-residents increasing for the eighth straight quarter to 23,600, excluding migrant domestic workers, says the Ministry of Manpower (MOM) in its quarterly labour market report released on Dec 14.
Resident employment grew by 2,800, reversing from the contraction of -1,200 in the quarter before, while non-resident employment continued to grow at 20,800, albeit at a slower pace compared to the past quarters. Most of the increase in resident employment came from the growth sectors while the increase in non-resident employment was mainly from the construction, administrative & support services and food & beverage services sectors.
