Singapore's job market continued its recovery in the second quarter of this year, according to advance estimates released by the Ministry of Manpower (MOM).
Singapore (VNA) - Singapore's job market continuedits recovery in the second quarter of this year, according to advance estimatesreleased by the Ministry of Manpower (MOM).
In the quarter, the country's total employment, excludingmigrant domestic workers, expanded by 64,400 or 1.9%. Driving this growth wasthe services sector, which saw 27,300 people employed, closely followed by25,200 in construction and 12,200 in manufacturing.
The total employment grew at a faster pace than the firstquarter’s 42,000 or 1.2%.
The report showed that more residents found jobs,especially in growth sectors such as information and communications,professional services, and financial services.
Meanwhile, the unemployment rate, which peaked in October 2020,held steady after reaching pre-COVID-19 levels in February this year.
In its report, MOM said hiring is expected to remain strongin the coming months, as the proportion of companies that indicated they willincrease manpower in the next three months continued to rise by 1.5 percentagepoints in June, compared with March./.
Singapore’s economy expanded 4.8% year on year in the second quarter of 2022, led by the manufacturing sector, according to advance estimates released by the country’s Ministry of Trade and Industry (MTI) on July 14.
Singapore welcomed 1.5 million visitors in the first half of 2022, nearly 12 times higher than the same period last year, the Singapore Tourism Board (STB) reported on July 14.
The Monetary Authority of Singapore (MAS) has recently further tightened its monetary policy by raising the mid-point of the Singapore dollar Nominal Effective Exchange Rate policy band to its prevailing level to fight price pressures.
Singapore has become one of the first countries in the world to be fully covered with standalone 5G after its largest telecoms service provider Singtel has blanketed 95% of outdoor locations here with 5G signals, three years ahead of the end-2025 target.
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