Singapore job market shows signs of ‘slowing momentum’ as retrenchment rises

The number of retrenchments rose to 1,600 in the third quarter, almost double the previous quarter’s all-time low of 830. - ST

SINGAPORE (The Straits Times/Asia News Network): Employment continued to rise in the third quarter but Singapore’s job market recovery showed signs of a “slowing momentum”, the Ministry of Manpower (MOM) said on Friday (Oct 28), as retrenchments swung up and the unemployment rate climbed.

In advance estimates for the quarter, MOM said total employment – excluding migrant domestic workers – rose 75,600 from the previous quarter.