More residents found higher-skilled jobs in 2024 as resident employment grew: MOM

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More residents found higher-skilled jobs in 2024 as resident employment grew: MOM

//business-finance.news-articles.net/content/202 .. obs-in-2024-as-resident-employment-grew-mom.html

Published in Business and Finance on Tuesday, March 18th 2025 at 23:20 GMT by CNA
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

More residents were employed in growth sectors like financial services and information and communications, while resident employment fell in lower-skilled sectors.

2025-03-18 195 x 110 / 6122 Bytes

The article from Channel News Asia discusses Singapore's labor market trends for the fourth quarter of 2023. It highlights a continued tightness in the labor market, with an increase in employment, particularly in higher-skilled jobs. Despite this, the unemployment rate remained low, indicating robust job creation. However, there was a slight rise in retrenchments, mainly in sectors like manufacturing and information technology. The vacancy rate also saw a decline, suggesting a potential easing in labor demand. The report also notes a shift towards more permanent employment, with fewer part-time and temporary positions. Overall, the labor market showed resilience, but with signs of adjustments in specific sectors.

Read the Full CNA Article at:
[ https://www.channelnewsasia.com/singapore/labour-market-employment-higher-skilled-jobs-vacancy-retrenchment-q4-2024-5009706 ]